Perimeter Solutions (NYSE:PRM) Shares Gap Up – Here’s Why

Perimeter Solutions, SA (NYSE:PRM) gapped up prior to trading on Friday . The stock had previously closed at $12.12, but opened at $12.47. Perimeter Solutions shares last traded at $12.38, with a volume of 367,160 shares traded.

Analyst Ratings Changes

A number of brokerages have recently commented on PRM. UBS Group upped their price target on Perimeter Solutions from $8.75 to $11.00 and gave the stock a “neutral” rating in a report on Friday, August 16th. Morgan Stanley upped their target price on shares of Perimeter Solutions from $14.00 to $18.00 and gave the company an “overweight” rating in a research note on Monday, September 16th.

Perimeter Solutions Stock Performance

The firm has a 50 day moving average of $12.89 and a 200-day moving average of $10.13. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.87 and a current ratio of 3.91.

Institutional Investors Weigh In On Perimeter Solutions

Several institutional investors and hedge funds have recently bought and sold shares of the business. Lazard Asset Management LLC acquired a new position in Perimeter Solutions in the first quarter worth about $78,000. SG Americas Securities LLC acquired a new position in shares of Perimeter Solutions in the 1st quarter worth approximately $86,000. Paloma Partners Management Co bought a new position in shares of Perimeter Solutions during the 1st quarter worth approximately $87,000. Versor Investments LP acquired a new stake in Perimeter Solutions in the 2nd quarter valued at $102,000. Finally, Bayesian Capital Management LP grew its position in Perimeter Solutions by 40.1% in the first quarter. Bayesian Capital Management LP now owns 19,201 shares of the company’s stock valued at $142,000 after acquiring an additional 5,500 shares during the period. Institutional investors own 89.93% of the company’s stock.

Perimeter Solutions Company Profile

Perimeter Solutions, SA manufactures and supplies firefighting products and lubricant additives in the United States, Germany, and internationally. It operates in two segments, Fire Safety and Specialty Products. The Fire Safety segment provides fire retardants and firefighting foams, as well as specialized equipment and services for federal, state, provincial, local/municipal, and commercial customers.