Perimeter Solutions (NYSE:PRM) Shares Gap Up – Should You Buy?

Shares of Perimeter Solutions, SA (NYSE:PRM) gapped up before the market opened on Wednesday . The stock had previously closed at $9.11, but opened at $10.08. Perimeter Solutions shares last traded at $10.43, with a volume of 368,915 shares.

Wall Street Analyst Weigh In

Separately, UBS Group raised Perimeter Solutions from a “neutral” rating to a “buy” rating and set a $14.00 price objective on the stock in a report on Wednesday.

Perimeter Solutions Trading Up 5.8 %

The company has a market cap of $1.59 billion, a P/E ratio of -75.74 and a beta of 1.93. The firm has a 50-day moving average of $11.04 and a 200 day moving average of $12.24. The company has a current ratio of 3.91, a quick ratio of 2.95 and a debt-to-equity ratio of 0.67.

Perimeter Solutions (NYSE:PRM) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.21. The company had revenue of $86.23 million during the quarter, compared to analyst estimates of $77.01 million. Perimeter Solutions had a negative net margin of 1.05% and a negative return on equity of 7.62%. On average, analysts predict that Perimeter Solutions, SA will post 0.71 earnings per share for the current fiscal year.

Insider Activity

In other Perimeter Solutions news, Director Vivek Raj sold 250,000 shares of Perimeter Solutions stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $9.17, for a total transaction of $2,292,500.00. Following the sale, the director now directly owns 471,226 shares of the company’s stock, valued at approximately $4,321,142.42. The trade was a 34.66 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 8.70% of the company’s stock.

Institutional Trading of Perimeter Solutions

Several institutional investors have recently added to or reduced their stakes in PRM. Comerica Bank purchased a new position in Perimeter Solutions during the fourth quarter valued at $38,000. Quarry LP bought a new stake in shares of Perimeter Solutions during the third quarter worth $52,000. McAdam LLC purchased a new position in Perimeter Solutions during the 4th quarter worth $131,000. Tower Research Capital LLC TRC raised its holdings in shares of Perimeter Solutions by 90.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 10,665 shares of the company’s stock valued at $136,000 after purchasing an additional 5,054 shares in the last quarter. Finally, Quantinno Capital Management LP purchased a new stake in shares of Perimeter Solutions in the 4th quarter worth approximately $136,000. 89.93% of the stock is currently owned by hedge funds and other institutional investors.

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.