Perma-Pipe International (NASDAQ:PPIH) Shares Cross Above 200 Day Moving Average - Should You Sell?

Key Points

• Perma-Pipe International's stock price has exceeded its 200-day moving average, trading at $23.84, with a high of $24.24 during the session.
• Wall Street analysts have downgraded Perma-Pipe International from a "strong-buy" rating to a "hold" rating, signaling a potential shift in investor sentiment.
• The company reported $0.10 EPS and $47.90 million in revenue for its latest quarter, highlighting a solid earnings performance despite the analyst downgrade.

Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $19.07 and traded as high as $24.24. Perma-Pipe International shares last traded at $23.84, with a volume of 239,082 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen cut shares of Perma-Pipe International from a "strong-buy" rating to a "hold" rating in a research note on Saturday.

Perma-Pipe International Stock Down 1.5%

The stock has a market capitalization of $189.90 million, a PE ratio of 19.02 and a beta of 0.53. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.64 and a current ratio of 1.88. The stock's 50-day moving average price is $26.66 and its two-hundred day moving average price is $19.14.

Perma-Pipe International (NASDAQ:PPIH - Get Free Report) last released its quarterly earnings data on Monday, September 15th. The industrial products company reported $0.10 earnings per share for the quarter. The business had revenue of $47.90 million during the quarter. Perma-Pipe International had a net margin of 5.55% and a return on equity of 13.92%.

Hedge Funds Weigh In On Perma-Pipe International

Institutional investors and hedge funds have recently made changes to their positions in the business. Raymond James Financial Inc. boosted its holdings in shares of Perma-Pipe International by 1,960.8% in the first quarter. Raymond James Financial Inc. now owns 657,501 shares of the industrial products company's stock worth $8,173,000 after buying an additional 625,596 shares during the last quarter. Jane Street Group LLC purchased a new position in Perma-Pipe International during the fourth quarter valued at approximately $178,000. Citadel Advisors LLC lifted its holdings in shares of Perma-Pipe International by 116.2% in the fourth quarter. Citadel Advisors LLC now owns 23,886 shares of the industrial products company's stock worth $357,000 after buying an additional 12,836 shares in the last quarter. Ellsworth Advisors LLC purchased a new position in shares of Perma-Pipe International in the first quarter worth $581,000. Finally, American Century Companies Inc. raised its stake in Perma-Pipe International by 81.3% during the first quarter. American Century Companies Inc. now owns 57,465 shares of the industrial products company's stock valued at $714,000 after purchasing an additional 25,763 shares in the last quarter. Hedge funds and other institutional investors own 28.43% of the company's stock.

Perma-Pipe International Company Profile

Perma-Pipe International Holdings, Inc, together with its subsidiaries, engineers, designs, manufactures, and sells specialty piping and leak detection systems. It offers insulated and jacketed district heating and cooling piping systems for energy distribution from central energy plants to various locations; and primary and secondary containment piping systems for transporting chemicals, hazardous fluids, and petroleum products, as well as engages in the coating and insulation of oil and gas gathering and transmission pipelines.