Perimeter Solutions (NYSE:PRM) Shares Gap Up – Still a Buy?

Perimeter Solutions, SA (NYSE:PRM) gapped up before the market opened on Friday . The stock had previously closed at $11.98, but opened at $12.59. Perimeter Solutions shares last traded at $12.62, with a volume of 432,361 shares traded.

Wall Street Analysts Forecast Growth

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

Perimeter Solutions Trading Up 4.9 %

The company has a debt-to-equity ratio of 0.67, a current ratio of 3.91 and a quick ratio of 2.95. The business’s fifty day simple moving average is $12.89 and its 200 day simple moving average is $11.59. The stock has a market cap of $1.84 billion, a price-to-earnings ratio of -11.12 and a beta of 1.91.

Perimeter Solutions (NYSE:PRM) last issued its 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). The business had revenue of $288.42 million during the quarter, compared to the consensus estimate of $265.30 million. Perimeter Solutions had a negative return on equity of 10.08% and a negative net margin of 30.57%. During the same period in the prior year, the business earned $0.31 EPS. On average, research analysts predict that Perimeter Solutions, SA will post -1.1 EPS for the current year.

Insiders Place Their Bets

In related news, Director Tracy Britt Cool sold 50,000 shares of Perimeter Solutions stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $12.81, for a total transaction of $640,500.00. Following the completion of the sale, the director now owns 173,449 shares of the company’s stock, valued at approximately $2,221,881.69. This trade represents a 22.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Haitham Khouri sold 80,156 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $12.16, for a total value of $974,696.96. Following the completion of the transaction, the chief executive officer now owns 249,833 shares in the company, valued at $3,037,969.28. This represents a 24.29 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 210,156 shares of company stock worth $2,579,197. Company insiders own 8.70% of the company’s stock.

Institutional Trading of Perimeter Solutions

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Quarry LP acquired a new position in Perimeter Solutions during the 3rd quarter worth $52,000. Orion Portfolio Solutions LLC bought a new stake in shares of Perimeter Solutions in the 3rd quarter valued at about $138,000. Landscape Capital Management L.L.C. acquired a new stake in Perimeter Solutions during the 3rd quarter worth $148,000. Jag Capital Management LLC acquired a new position in shares of Perimeter Solutions in the 3rd quarter valued at approximately $158,000. Finally, CWM LLC lifted its holdings in shares of Perimeter Solutions by 22.8% in the third quarter. CWM LLC now owns 12,251 shares of the company’s stock valued at $165,000 after purchasing an additional 2,276 shares in the last quarter. 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.