Perimeter Solutions, SA (NYSE:PRM) Short Interest Update

Perimeter Solutions, SA (NYSE:PRM) saw a large decline in short interest in the month of November. As of November 15th, there was short interest totalling 1,670,000 shares, a decline of 23.0% from the October 31st total of 2,170,000 shares. Approximately 1.2% of the shares of the company are short sold. Based on an average daily volume of 769,800 shares, the days-to-cover ratio is presently 2.2 days.

Analyst Ratings Changes

Several analysts have weighed in on PRM shares. UBS Group raised their price target on Perimeter Solutions from $8.75 to $11.00 and gave the company a “neutral” rating in a report on Friday, August 16th. Morgan Stanley raised their target price on shares of Perimeter Solutions from $14.00 to $18.00 and gave the company an “overweight” rating in a research note on Monday, September 16th.

Perimeter Solutions Stock Performance

NYSE PRM opened at $12.60 on Friday. The company has a market capitalization of $1.84 billion, a P/E ratio of -11.15 and a beta of 2.02. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.95 and a current ratio of 3.91. Perimeter Solutions has a 52-week low of $3.84 and a 52-week high of $14.44. The company has a fifty day moving average of $13.11 and a 200-day moving average of $10.50.

Perimeter Solutions (NYSE:PRM) last posted 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). The firm had revenue of $288.42 million during the quarter, compared to analysts’ expectations of $265.30 million. Perimeter Solutions had a negative return on equity of 10.08% and a negative net margin of 30.57%. During the same quarter in the previous year, the company posted $0.31 earnings per share. As a group, equities research analysts predict that Perimeter Solutions will post 0.62 EPS for the current fiscal year.

Insider Activity at Perimeter Solutions

In other Perimeter Solutions news, CEO Haitham Khouri sold 80,156 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $12.16, for a total value of $974,696.96. Following the sale, the chief executive officer now directly owns 249,833 shares in the company, valued at $3,037,969.28. This represents a 24.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Tracy Britt Cool sold 50,000 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $12.81, for a total transaction of $640,500.00. Following the transaction, the director now owns 173,449 shares of the company’s stock, valued at $2,221,881.69. This trade represents a 22.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 210,156 shares of company stock worth $2,579,197. 8.70% of the stock is owned by company insiders.

Institutional Trading of Perimeter Solutions

Hedge funds and other institutional investors have recently bought and sold shares of the company. PEAK6 Investments LLC purchased a new stake in shares of Perimeter Solutions in the 1st quarter valued at $192,000. Lazard Asset Management LLC bought a new stake in shares of Perimeter Solutions in the first quarter worth about $78,000. Price T Rowe Associates Inc. MD boosted its holdings in Perimeter Solutions by 15.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 43,511 shares of the company’s stock valued at $323,000 after acquiring an additional 5,773 shares in the last quarter. Bayesian Capital Management LP increased its position in Perimeter Solutions by 40.1% during the 1st quarter. Bayesian Capital Management LP now owns 19,201 shares of the company’s stock valued at $142,000 after purchasing an additional 5,500 shares during the period. Finally, Simplicity Wealth LLC raised its holdings in Perimeter Solutions by 24.8% in the 2nd quarter. Simplicity Wealth LLC now owns 23,181 shares of the company’s stock worth $182,000 after purchasing an additional 4,600 shares in the last quarter. Hedge funds and other 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.