Perimeter Solutions (NYSE:PRM) Shares Gap Up – Here’s Why

Shares of Perimeter Solutions, SA (NYSE:PRM) gapped up prior to trading 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 trading hands.

Wall Street Analyst Weigh In

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

Perimeter Solutions Price Performance

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 business has a 50-day simple moving average of $12.89 and a 200 day simple moving average of $11.59. The stock has a market cap of $1.84 billion, a P/E 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 the consensus estimate of $0.61 by ($1.22). Perimeter Solutions had a negative return on equity of 10.08% and a negative net margin of 30.57%. The company had revenue of $288.42 million for the quarter, compared to the consensus estimate of $265.30 million. During the same period in the prior year, the company earned $0.31 earnings per share. On average, analysts forecast that Perimeter Solutions, SA will post -1.1 earnings per share for the current year.

Insider Activity at Perimeter Solutions

In other news, CEO Haitham Khouri sold 80,000 shares of the business’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $12.05, for a total transaction of $964,000.00. Following the completion of the sale, the chief executive officer now directly owns 429,989 shares of the company’s stock, valued at $5,181,367.45. The trade was a 15.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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 transaction of $640,500.00. Following the completion of the transaction, the director now directly owns 173,449 shares in the company, valued at approximately $2,221,881.69. The trade was a 22.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 210,156 shares of company stock valued at $2,579,197 in the last three months. Corporate insiders own 8.70% of the company’s stock.

Institutional Investors Weigh In On Perimeter Solutions

Several institutional investors have recently bought and sold shares of the stock. Pennant Select LLC raised its holdings in shares of Perimeter Solutions by 41.6% in 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. GSA Capital Partners LLP bought a new stake in Perimeter Solutions in the 3rd quarter worth about $945,000. Dimensional Fund Advisors LP lifted its position in shares of Perimeter Solutions by 59.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,878,518 shares of the company’s stock worth $14,708,000 after buying an additional 698,622 shares in the last quarter. Barclays PLC boosted its stake in shares of Perimeter Solutions by 305.3% in the 3rd quarter. Barclays PLC now owns 206,967 shares of the company’s stock worth $2,784,000 after buying an additional 155,899 shares during the last quarter. Finally, FMR LLC grew its holdings in shares of Perimeter Solutions by 2,993.1% in the third quarter. FMR LLC now owns 307,426 shares of the company’s stock valued at $4,135,000 after acquiring an additional 297,487 shares in the last quarter. Institutional investors 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.