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

Perimeter Solutions, SA (NYSE:PRM)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $9.11, but opened at $10.08. Perimeter Solutions shares last traded at $10.43, with a volume of 368,915 shares.

Wall Street Analysts Forecast Growth

Separately, UBS Group upgraded shares of Perimeter Solutions from a “neutral” rating to a “buy” rating and set a $14.00 price objective on the stock in a report on Wednesday.

Perimeter Solutions Trading Up 12.7 %

The business has a 50 day moving average of $11.16 and a 200 day moving average of $12.26. The company has a debt-to-equity ratio of 0.67, a current ratio of 3.91 and a quick ratio of 2.95. The firm has a market capitalization of $1.54 billion, a price-to-earnings ratio of -74.46 and a beta of 1.93.

Perimeter Solutions (NYSE:PRM) last posted its earnings results on Thursday, February 20th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.21. The company had revenue of $86.23 million during the quarter, compared to analyst estimates of $77.01 million. Perimeter Solutions had a negative return on equity of 7.62% and a negative net margin of 1.05%. As a group, research analysts predict 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 the firm’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $9.17, for a total transaction of $2,292,500.00. Following the sale, the director now owns 471,226 shares of the company’s stock, valued at $4,321,142.42. This trade represents a 34.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 8.70% of the company’s stock.

Institutional Trading of Perimeter Solutions

Large investors have recently bought and sold shares of the business. Comerica Bank acquired a new position in shares of Perimeter Solutions in the fourth quarter valued at approximately $38,000. Quarry LP acquired a new stake in shares of Perimeter Solutions during the third quarter worth $52,000. McAdam LLC acquired a new position in Perimeter Solutions in the 4th quarter worth $131,000. Tower Research Capital LLC TRC increased its holdings in Perimeter Solutions by 90.1% during the 4th 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 in the last quarter. Finally, Quantinno Capital Management LP acquired a new stake in shares of Perimeter Solutions in the 4th quarter valued at about $136,000. 89.93% of the stock is owned by institutional investors.

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.