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

Shares of Perimeter Solutions, SA (NYSE:PRM) shot up 3% during mid-day trading on Wednesday . The stock traded as high as $12.17 and last traded at $12.07. 93,382 shares changed hands during trading, a decline of 85% from the average session volume of 642,168 shares. The stock had previously closed at $11.72.

Analysts Set New Price Targets

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

Perimeter Solutions Price Performance

The company has a market cap of $1.85 billion, a PE ratio of -11.18 and a beta of 1.91. The company has a quick ratio of 2.95, a current ratio of 3.91 and a debt-to-equity ratio of 0.67. The firm has a 50 day simple moving average of $12.89 and a 200-day simple moving average of $11.59.

Perimeter Solutions (NYSE:PRM) last issued its quarterly earnings data 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). Perimeter Solutions had a negative return on equity of 10.08% and a negative net margin of 30.57%. The firm had revenue of $288.42 million during the quarter, compared to analysts’ expectations of $265.30 million. During the same period in the previous year, the firm earned $0.31 EPS. As a group, research analysts predict that Perimeter Solutions, SA will post -1.1 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Tracy Britt Cool sold 50,000 shares of Perimeter Solutions stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $12.81, for a total transaction of $640,500.00. Following the completion of the sale, the director now owns 173,449 shares of the company’s stock, valued at $2,221,881.69. The trade was a 22.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Haitham Khouri sold 80,000 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $12.05, for a total transaction of $964,000.00. Following the completion of the transaction, the chief executive officer now owns 429,989 shares in the company, valued at approximately $5,181,367.45. This trade represents a 15.69 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 210,156 shares of company stock worth $2,579,197. Insiders own 8.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PRM. Quarry LP purchased a new stake in shares of Perimeter Solutions during the 3rd quarter worth about $52,000. Orion Portfolio Solutions LLC purchased a new position in Perimeter Solutions during the third quarter worth approximately $138,000. Landscape Capital Management L.L.C. acquired a new stake in Perimeter Solutions in the third quarter valued at approximately $148,000. Jag Capital Management LLC purchased a new stake in shares of Perimeter Solutions in the third quarter valued at approximately $158,000. Finally, CWM LLC increased its position in shares of Perimeter Solutions by 22.8% in the third quarter. CWM LLC now owns 12,251 shares of the company’s stock valued at $165,000 after buying an additional 2,276 shares in the last quarter. 89.93% of the stock is currently owned by institutional investors and hedge funds.

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.