Perimeter Solutions (NYSE:PRM) Shares Down 4.6% – What’s Next?

Shares of Perimeter Solutions, SA (NYSE:PRM) dropped 4.6% during mid-day trading on Monday . The company traded as low as $11.80 and last traded at $11.83. Approximately 211,258 shares traded hands during trading, a decline of 59% from the average daily volume of 509,263 shares. The stock had previously closed at $12.40.

Analyst Ratings Changes

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

Perimeter Solutions Trading Down 3.3 %

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 firm’s 50-day moving average is $13.02 and its 200-day moving average is $11.52. The firm has a market cap of $1.75 billion, a price-to-earnings ratio of -10.61 and a beta of 1.91.

Perimeter Solutions (NYSE:PRM) last released its quarterly 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 company had revenue of $288.42 million for the quarter, compared to analyst estimates of $265.30 million. Perimeter Solutions had a negative net margin of 30.57% and a negative return on equity of 10.08%. During the same quarter last year, the firm posted $0.31 EPS. As a group, sell-side analysts anticipate that Perimeter Solutions, SA will post -1.1 EPS for the current fiscal year.

Insider Activity at Perimeter Solutions

In related news, CEO Haitham Khouri sold 80,156 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $12.16, for a total value of $974,696.96. Following the sale, the chief executive officer now directly owns 249,833 shares of the company’s stock, valued at $3,037,969.28. This trade 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 through the SEC website. Also, Director Tracy Britt Cool sold 50,000 shares of the firm’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $12.81, for a total value of $640,500.00. Following the transaction, the director now directly owns 173,449 shares in the company, valued at approximately $2,221,881.69. This represents a 22.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 210,156 shares of company stock valued at $2,579,197. 8.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. CWM LLC grew its position in Perimeter Solutions by 22.8% during the 3rd quarter. CWM LLC now owns 12,251 shares of the company’s stock worth $165,000 after acquiring an additional 2,276 shares during the last quarter. Bleakley Financial Group LLC raised its holdings in Perimeter Solutions by 14.8% during the 3rd quarter. Bleakley Financial Group LLC now owns 26,602 shares of the company’s stock valued at $358,000 after buying an additional 3,421 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in Perimeter Solutions by 2.6% during the 3rd quarter. PNC Financial Services Group Inc. now owns 139,335 shares of the company’s stock valued at $1,874,000 after buying an additional 3,544 shares during the period. Natixis Advisors LLC increased its position in shares of Perimeter Solutions by 5.9% in the third quarter. Natixis Advisors LLC now owns 64,923 shares of the company’s stock valued at $873,000 after acquiring an additional 3,595 shares during the period. Finally, Quarry LP bought a new position in shares of Perimeter Solutions during the third quarter valued at about $52,000. Hedge funds and other 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.