Perimeter Solutions (NYSE:PRM) Stock Price Up 3% – Still a Buy?

Perimeter Solutions, SA (NYSE:PRM)’s share price rose 3% on Wednesday . The company traded as high as $12.17 and last traded at $12.07. Approximately 93,382 shares traded hands during trading, a decline of 85% from the average daily volume of 642,168 shares. The stock had previously closed at $11.72.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley raised their price objective 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 Stock Performance

The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.95 and a current ratio of 3.91. The stock has a fifty day simple moving average of $12.95 and a two-hundred day simple moving average of $11.58. The stock has a market cap of $1.81 billion, a PE ratio of -10.96 and a beta of 1.91.

Perimeter Solutions (NYSE:PRM) last announced its earnings results on Tuesday, November 12th. The company reported ($0.61) earnings per share for the quarter, missing the consensus estimate 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 analysts’ expectations of $265.30 million. During the same quarter last year, the company posted $0.31 earnings per share. Equities analysts anticipate that Perimeter Solutions, SA will post -1.1 EPS for the current fiscal year.

Insider Activity

In other news, Director Tracy Britt Cool sold 50,000 shares of the company’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 sale, the director now owns 173,449 shares in the company, valued at approximately $2,221,881.69. This represents a 22.38 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Haitham Khouri sold 80,000 shares of the stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $12.05, for a total transaction of $964,000.00. Following the transaction, the chief executive officer now directly owns 429,989 shares in the company, valued at $5,181,367.45. The trade was a 15.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 210,156 shares of company stock worth $2,579,197 over the last ninety days. Corporate insiders own 8.70% of the company’s stock.

Institutional Trading of Perimeter Solutions

Several institutional investors and hedge funds have recently bought and sold shares of the company. DF Dent & Co. Inc. increased its holdings in shares of Perimeter Solutions by 27.4% in the 3rd quarter. DF Dent & Co. Inc. now owns 2,341,963 shares of the company’s stock valued at $31,499,000 after acquiring an additional 504,146 shares during the last quarter. Senator Investment Group LP lifted its stake in Perimeter Solutions by 0.5% during the second quarter. Senator Investment Group LP now owns 2,125,000 shares of the company’s stock worth $16,639,000 after purchasing an additional 10,700 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Perimeter Solutions by 59.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,878,518 shares of the company’s stock worth $14,708,000 after purchasing an additional 698,622 shares during the period. Pennant Select LLC increased its stake in Perimeter Solutions by 41.6% during the third quarter. Pennant Select LLC now owns 814,000 shares of the company’s stock valued at $10,948,000 after purchasing an additional 239,000 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Perimeter Solutions by 4.3% during the second quarter. Bank of New York Mellon Corp now owns 509,868 shares of the company’s stock worth $3,992,000 after purchasing an additional 21,012 shares during the period. 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.