Perimeter Solutions, SA (NYSE:PRM) Sees Significant Drop in Short Interest

Perimeter Solutions, SA (NYSE:PRM) was the recipient of a large decline in short interest in the month of September. As of September 15th, there was short interest totalling 2,210,000 shares, a decline of 19.3% from the August 31st total of 2,740,000 shares. Approximately 1.6% of the company’s shares are sold short. Based on an average daily trading volume, of 744,900 shares, the days-to-cover ratio is presently 3.0 days.

Hedge Funds Weigh In On Perimeter Solutions

Institutional investors and hedge funds have recently made changes to their positions in the stock. Quadrant Capital Group LLC lifted its stake in Perimeter Solutions by 136.5% in the fourth quarter. Quadrant Capital Group LLC now owns 5,540 shares of the company’s stock worth $25,000 after acquiring an additional 3,198 shares during the last quarter. Aristides Capital LLC purchased a new stake in shares of Perimeter Solutions during the 4th quarter worth $280,000. CenterBook Partners LP grew its stake in shares of Perimeter Solutions by 278.8% during the fourth quarter. CenterBook Partners LP now owns 393,127 shares of the company’s stock worth $1,808,000 after purchasing an additional 289,348 shares in the last quarter. Evercore Wealth Management LLC purchased a new position in Perimeter Solutions in the fourth quarter valued at $345,000. Finally, Pennant Select LLC acquired a new stake in Perimeter Solutions in the fourth quarter valued at $2,645,000. 89.93% of the stock is owned by institutional investors and hedge funds.

Perimeter Solutions Trading Up 0.8 %

Shares of NYSE:PRM traded up $0.11 during trading on Friday, hitting $13.24. The company’s stock had a trading volume of 827,063 shares, compared to its average volume of 601,635. Perimeter Solutions has a fifty-two week low of $2.79 and a fifty-two week high of $13.40. The business has a 50 day moving average price of $10.97 and a two-hundred day moving average price of $8.67. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.87 and a current ratio of 3.61.

Perimeter Solutions (NYSE:PRM) last released its earnings results on Thursday, August 1st. The company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.03 by $0.11. Perimeter Solutions had a positive return on equity of 2.94% and a negative net margin of 14.12%. The firm had revenue of $127.28 million during the quarter, compared to analysts’ expectations of $113.41 million. During the same period in the previous year, the firm posted ($0.05) EPS. On average, sell-side analysts forecast that Perimeter Solutions will post 0.49 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently commented on PRM shares. UBS Group raised their target price 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 increased their price target on shares of Perimeter Solutions from $14.00 to $18.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th.

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.