Perimeter Solutions (NYSE:PRM) Stock Price Down 13.6% – Should You Sell?

Perimeter Solutions, SA (NYSE:PRM) fell 13.6% on Thursday . The company traded as low as $22.58 and last traded at $22.7960. 204,669 shares were traded during trading, a decline of 75% from the average session volume of 816,744 shares. The stock had previously closed at $26.37.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on PRM. Zacks Research lowered Perimeter Solutions from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 17th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Perimeter Solutions in a research note on Thursday, January 22nd. UBS Group lowered shares of Perimeter Solutions from a “buy” rating to a “neutral” rating and boosted their price target for the company from $30.00 to $31.00 in a report on Monday, January 12th. Finally, Morgan Stanley set a $35.00 price target on shares of Perimeter Solutions in a research report on Monday, December 15th. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Perimeter Solutions presently has an average rating of “Hold” and a consensus price target of $33.00.

Perimeter Solutions Stock Down 0.2%

The company’s fifty day simple moving average is $27.29 and its 200-day simple moving average is $24.83. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.22 and a quick ratio of 1.72. The firm has a market capitalization of $3.47 billion, a PE ratio of -16.51 and a beta of 1.96.

Perimeter Solutions (NYSE:PRM) last issued its quarterly earnings data on Thursday, February 26th. The company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.09 by $0.04. The firm had revenue of $102.75 million during the quarter, compared to analyst estimates of $94.05 million. Perimeter Solutions had a positive return on equity of 17.68% and a negative net margin of 31.61%. On average, analysts forecast that Perimeter Solutions, SA will post 0.71 EPS for the current year.

Insider Buying and Selling

In other Perimeter Solutions news, CFO Kyle Sable sold 100,000 shares of the firm’s stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $28.47, for a total value of $2,847,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 10.00% of the company’s stock.

Hedge Funds Weigh In On Perimeter Solutions

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Invesco Ltd. grew its position in Perimeter Solutions by 157.3% during the 4th quarter. Invesco Ltd. now owns 1,294,686 shares of the company’s stock worth $35,643,000 after purchasing an additional 791,558 shares during the last quarter. State of Tennessee Department of Treasury acquired a new stake in shares of Perimeter Solutions during the fourth quarter worth $139,000. Mackenzie Financial Corp acquired a new stake in shares of Perimeter Solutions during the fourth quarter worth $242,000. Empowered Funds LLC purchased a new stake in shares of Perimeter Solutions during the fourth quarter valued at $417,000. Finally, Voloridge Investment Management LLC acquired a new position in shares of Perimeter Solutions in the 4th quarter valued at $6,681,000. 89.93% of the stock is owned by hedge funds and other institutional investors.

Perimeter Solutions Company Profile

Perimeter Solutions Ltd. (NYSE: PRM) is a global specialty chemicals company focused on delivering performance-driven solutions for the oil and gas, coatings, plastics, water treatment and packaging markets. Established as an independent publicly traded company in December 2019 following its spin-off from NewMarket Corporation, Perimeter Solutions has positioned itself as a leading provider of highly engineered chemical products designed to optimize upstream oil recovery, protect infrastructure and enhance the performance of industrial processes.

The company’s core product portfolio spans several key segments.