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

Perimeter Solutions, SA (NYSE:PRM) shot up 3% on Wednesday . The company traded as high as $12.17 and last traded at $12.07. 93,382 shares changed hands during mid-day 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 upped their target price on shares of Perimeter Solutions from $14.00 to $18.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th.

Perimeter Solutions Stock Performance

The business’s fifty day moving average is $12.89 and its two-hundred day moving average is $11.59. The company has a current ratio of 3.91, a quick ratio of 2.95 and a debt-to-equity ratio of 0.67. The company has a market capitalization of $1.85 billion, a PE ratio of -11.18 and a beta of 1.91.

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

Insider Buying and Selling at Perimeter Solutions

In other Perimeter Solutions news, CEO Haitham Khouri sold 80,156 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $12.16, for a total transaction of $974,696.96. Following the sale, the chief executive officer now directly owns 249,833 shares in the company, valued at $3,037,969.28. This represents a 24.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Tracy Britt Cool sold 50,000 shares of the firm’s stock in a transaction that occurred 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 sale, the director now directly owns 173,449 shares of the company’s stock, valued at $2,221,881.69. The trade was a 22.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 210,156 shares of company stock valued at $2,579,197 over the last ninety days. 8.70% of the stock is currently owned by company insiders.

Institutional Trading of Perimeter Solutions

Several institutional investors have recently added to or reduced their stakes in the company. 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 worth $10,948,000 after buying an additional 239,000 shares during the period. GSA Capital Partners LLP purchased a new position in Perimeter Solutions during the 3rd quarter worth $945,000. Dimensional Fund Advisors LP raised its position in Perimeter Solutions by 59.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,878,518 shares of the company’s stock valued at $14,708,000 after purchasing an additional 698,622 shares in the last quarter. Barclays PLC lifted its holdings in shares of Perimeter Solutions by 305.3% in the 3rd quarter. Barclays PLC now owns 206,967 shares of the company’s stock worth $2,784,000 after buying an additional 155,899 shares during the period. Finally, FMR LLC grew its position 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 worth $4,135,000 after buying an additional 297,487 shares in the last quarter. Institutional investors 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.