Perma-Fix Environmental Services (NASDAQ:PESI) Shares Cross Above 200 Day Moving Average – Here’s Why

Perma-Fix Environmental Services, Inc. (NASDAQ:PESI) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $11.24 and traded as high as $12.34. Perma-Fix Environmental Services shares last traded at $12.28, with a volume of 69,375 shares changing hands.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Perma-Fix Environmental Services in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, Perma-Fix Environmental Services currently has an average rating of “Sell”.

Perma-Fix Environmental Services Trading Up 1.0%

The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.97 and a current ratio of 2.04. The firm has a market capitalization of $229.62 million, a PE ratio of -10.97 and a beta of 0.25. The stock’s 50-day simple moving average is $11.99 and its 200-day simple moving average is $11.25.

Perma-Fix Environmental Services (NASDAQ:PESI) last announced its earnings results on Monday, November 10th. The industrial products company reported ($0.10) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.02. Perma-Fix Environmental Services had a negative net margin of 31.25% and a negative return on equity of 21.73%. The firm had revenue of $17.45 million for the quarter, compared to analyst estimates of $16.30 million.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Ancora Advisors LLC boosted its holdings in shares of Perma-Fix Environmental Services by 92.8% during the 1st quarter. Ancora Advisors LLC now owns 157,845 shares of the industrial products company’s stock valued at $1,148,000 after buying an additional 75,967 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Perma-Fix Environmental Services by 14.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 46,244 shares of the industrial products company’s stock valued at $336,000 after acquiring an additional 6,009 shares during the period. Nuveen LLC bought a new stake in Perma-Fix Environmental Services during the first quarter worth about $123,000. Corebridge Financial Inc. grew its holdings in Perma-Fix Environmental Services by 14.7% in the first quarter. Corebridge Financial Inc. now owns 8,284 shares of the industrial products company’s stock worth $60,000 after purchasing an additional 1,061 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in Perma-Fix Environmental Services by 5.5% in the first quarter. Bank of New York Mellon Corp now owns 33,883 shares of the industrial products company’s stock worth $246,000 after purchasing an additional 1,757 shares during the period. Hedge funds and other institutional investors own 25.52% of the company’s stock.

Perma-Fix Environmental Services Company Profile

Perma-Fix Environmental Services, Inc, through its subsidiaries, operates as an environmental and technology know-how company in the United States. The company through Treatment and Services segments. The Treatment segment offers nuclear, low-level radioactive, mixed waste, hazardous and non-hazardous waste treatment, and processing and disposal services through treatment and storage facilities.