Perimeter Solutions (NYSE:PRM) Shares Up 5.6% – What’s Next?

Perimeter Solutions, SA (NYSE:PRM) rose 5.6% on Thursday . The company traded as high as $10.51 and last traded at $10.58. Approximately 275,690 shares were traded during mid-day trading, a decline of 67% from the average daily volume of 837,361 shares. The stock had previously closed at $10.02.

Analyst Upgrades and Downgrades

Separately, UBS Group raised shares of Perimeter Solutions from a “neutral” rating to a “buy” rating and set a $14.00 target price for the company in a research note on Wednesday.

Perimeter Solutions Stock Down 3.2 %

The stock’s fifty day moving average price is $10.97 and its 200-day moving average price is $12.23. The company has a market capitalization of $1.54 billion, a price-to-earnings ratio of -73.39 and a beta of 1.93. The company has a quick ratio of 2.95, a current ratio of 3.91 and a debt-to-equity ratio of 0.67.

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

Insider Activity at Perimeter Solutions

In related news, Director Vivek Raj sold 250,000 shares of the stock in a transaction on Friday, March 14th. The stock was sold at an average price of $9.17, for a total value of $2,292,500.00. Following the sale, the director now owns 471,226 shares in the company, valued at approximately $4,321,142.42. This represents a 34.66 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 8.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Perimeter Solutions

Several large investors have recently modified their holdings of the stock. Pennant Select LLC lifted its holdings in shares of Perimeter Solutions by 41.6% during the third quarter. Pennant Select LLC now owns 814,000 shares of the company’s stock worth $10,948,000 after buying an additional 239,000 shares in the last quarter. Entropy Technologies LP acquired a new position in Perimeter Solutions during the fourth quarter worth about $305,000. Barclays PLC lifted its holdings in shares of Perimeter Solutions by 305.3% in the third quarter. Barclays PLC now owns 206,967 shares of the company’s stock worth $2,784,000 after acquiring an additional 155,899 shares during the last quarter. Bleakley Financial Group LLC boosted its position in Perimeter Solutions by 6.7% in the fourth quarter. Bleakley Financial Group LLC now owns 28,380 shares of the company’s stock valued at $363,000 after buying an additional 1,778 shares in the last quarter. Finally, FMR LLC boosted its holdings in shares of Perimeter Solutions by 2,993.1% during the 3rd quarter. FMR LLC now owns 307,426 shares of the company’s stock valued at $4,135,000 after acquiring an additional 297,487 shares in the last quarter. 89.93% of the stock is owned by 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.