Perimeter Solutions (NYSE:PRM) Stock Price Up 5.6% – Here’s What Happened

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

Analyst Upgrades and Downgrades

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

Perimeter Solutions Stock Down 3.2 %

The stock’s 50-day moving average price is $10.97 and its 200-day moving average price is $12.23. 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 stock has a market cap of $1.54 billion, a price-to-earnings ratio of -73.39 and a beta of 1.93.

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

Insider Activity at Perimeter Solutions

In related news, Director Vivek Raj sold 250,000 shares of the stock in a transaction on Friday, March 14th. The shares were sold at an average price of $9.17, for a total transaction of $2,292,500.00. Following the transaction, the director now directly owns 471,226 shares of the company’s stock, valued at $4,321,142.42. This represents a 34.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in PRM. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Perimeter Solutions by 25.6% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 313,239 shares of the company’s stock valued at $4,003,000 after purchasing an additional 63,919 shares during the period. Voloridge Investment Management LLC grew its holdings in shares of Perimeter Solutions by 26.6% during the fourth quarter. Voloridge Investment Management LLC now owns 174,651 shares of the company’s stock valued at $2,232,000 after buying an additional 36,652 shares during the last quarter. Squarepoint Ops LLC bought a new stake in shares of Perimeter Solutions during the fourth quarter worth about $1,911,000. Two Sigma Advisers LP acquired a new stake in shares of Perimeter Solutions in the 4th quarter worth about $258,000. Finally, State of Wyoming lifted its position in Perimeter Solutions by 241.6% in the 4th quarter. State of Wyoming now owns 34,827 shares of the company’s stock valued at $445,000 after acquiring an additional 24,632 shares in the last quarter. 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.