Perimeter Solutions (NYSE:PRM) Trading 5.6% Higher – Should You Buy?

Perimeter Solutions, SA (NYSE:PRM)’s stock price shot up 5.6% during mid-day trading on Thursday . The company traded as high as $10.51 and last traded at $10.58. 275,690 shares traded hands during mid-day trading, a decline of 67% from the average session volume of 837,361 shares. The stock had previously closed at $10.02.

Analysts Set New Price Targets

Separately, UBS Group raised Perimeter Solutions from a “neutral” rating to a “buy” rating and set a $14.00 target price on the stock in a research report on Wednesday.

Perimeter Solutions Stock Performance

The company has a 50-day moving average of $11.09 and a 200-day moving average of $12.25. 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 has a market capitalization of $1.59 billion, a price-to-earnings ratio of -75.74 and a beta of 1.93.

Perimeter Solutions (NYSE:PRM) last released its quarterly earnings results on Thursday, February 20th. The company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.21. The company had revenue of $86.23 million for the quarter, compared to analysts’ expectations of $77.01 million. Perimeter Solutions had a negative return on equity of 7.62% and a negative net margin of 1.05%. On average, equities research analysts forecast that Perimeter Solutions, SA will post 0.71 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Vivek Raj sold 250,000 shares of Perimeter Solutions stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $9.17, for a total value of $2,292,500.00. Following the transaction, the director now directly owns 471,226 shares in the company, valued at approximately $4,321,142.42. The trade was a 34.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 8.70% of the company’s stock.

Hedge Funds Weigh In On Perimeter Solutions

A number of hedge funds have recently made changes to their positions in PRM. Comerica Bank bought a new position in Perimeter Solutions in the fourth quarter valued at about $38,000. Quarry LP bought a new stake in Perimeter Solutions during the 3rd quarter worth about $52,000. McAdam LLC bought a new stake in shares of Perimeter Solutions during the 4th quarter worth approximately $131,000. Tower Research Capital LLC TRC grew its holdings in Perimeter Solutions by 90.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 10,665 shares of the company’s stock worth $136,000 after purchasing an additional 5,054 shares during the period. Finally, Quantinno Capital Management LP acquired a new stake in shares of Perimeter Solutions during the 4th quarter worth about $136,000. Institutional investors and hedge funds own 89.93% of the company’s stock.

Perimeter Solutions Company Profile

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.