Perimeter Solutions (NYSE:PRM) Trading Up 3% – Here’s Why

Shares of Perimeter Solutions, SA (NYSE:PRM) shot up 3% on Wednesday . The stock traded as high as $12.17 and last traded at $12.07. 93,382 shares traded hands during trading, a decline of 85% from the average session volume of 642,168 shares. The stock had previously closed at $11.72.

Wall Street Analyst Weigh In

Separately, Morgan Stanley lifted their price target on shares of Perimeter Solutions from $14.00 to $18.00 and gave the company an “overweight” rating in a research report on Monday, September 16th.

Perimeter Solutions Stock Up 5.6 %

The business has a 50-day simple moving average of $12.95 and a 200-day simple moving average of $11.58. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.95 and a current ratio of 3.91. The company has a market cap of $1.81 billion, a price-to-earnings ratio of -10.96 and a beta of 1.91.

Perimeter Solutions (NYSE:PRM) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.61) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by ($1.22). Perimeter Solutions had a negative return on equity of 10.08% and a negative net margin of 30.57%. The firm had revenue of $288.42 million during the quarter, compared to analysts’ expectations of $265.30 million. During the same quarter in the prior year, the firm earned $0.31 EPS. On average, equities analysts anticipate that Perimeter Solutions, SA will post -1.1 earnings per share for the current fiscal year.

Insider Activity at Perimeter Solutions

In other news, Director Tracy Britt Cool sold 50,000 shares of the company’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $12.81, for a total value of $640,500.00. Following the completion of the transaction, the director now owns 173,449 shares in the company, valued at approximately $2,221,881.69. This represents a 22.38 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Haitham Khouri sold 80,000 shares of the company’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $12.05, for a total transaction of $964,000.00. Following the completion of the transaction, the chief executive officer now owns 429,989 shares of the company’s stock, valued at $5,181,367.45. This represents a 15.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 210,156 shares of company stock valued at $2,579,197 over the last quarter. 8.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Perimeter Solutions

Several hedge funds have recently made changes to their positions in the business. DF Dent & Co. Inc. raised its stake in Perimeter Solutions by 27.4% during the 3rd quarter. DF Dent & Co. Inc. now owns 2,341,963 shares of the company’s stock valued at $31,499,000 after acquiring an additional 504,146 shares during the last quarter. Senator Investment Group LP lifted its holdings in shares of Perimeter Solutions by 0.5% during the second quarter. Senator Investment Group LP now owns 2,125,000 shares of the company’s stock worth $16,639,000 after purchasing an additional 10,700 shares during the period. Dimensional Fund Advisors LP grew its position in Perimeter Solutions by 59.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,878,518 shares of the company’s stock valued at $14,708,000 after buying an additional 698,622 shares during the last quarter. Pennant Select LLC increased its stake in Perimeter Solutions by 41.6% in the 3rd quarter. Pennant Select LLC now owns 814,000 shares of the company’s stock valued at $10,948,000 after buying an additional 239,000 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in Perimeter Solutions by 4.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 509,868 shares of the company’s stock valued at $3,992,000 after buying an additional 21,012 shares during the period. Institutional investors and hedge funds own 89.93% of the company’s stock.

About Perimeter Solutions

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.