Perimeter Solutions (NYSE:PRM) Shares Gap Up – Should You Buy?

Perimeter Solutions, SA (NYSE:PRM) shares gapped up prior to trading on Friday . The stock had previously closed at $12.12, but opened at $12.47. Perimeter Solutions shares last traded at $12.38, with a volume of 367,160 shares.

Analyst Upgrades and Downgrades

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

Perimeter Solutions Price Performance

The firm has a fifty day moving average of $12.91 and a 200 day moving average of $10.19. The company has a current ratio of 3.91, a quick ratio of 1.87 and a debt-to-equity ratio of 0.67. The company has a market capitalization of $1.78 billion, a P/E ratio of -10.76 and a beta of 2.02.

Perimeter Solutions (NYSE:PRM) last issued its earnings results on Tuesday, November 12th. The company reported ($0.61) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($1.22). The company 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 prior year, the business posted $0.31 EPS. On average, equities research analysts anticipate that Perimeter Solutions, SA will post 0.6 EPS for the current year.

Insider Buying and Selling 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 transaction, the chief executive officer now directly owns 249,833 shares in the company, valued at approximately $3,037,969.28. This trade represents a 24.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 8.70% of the company’s stock.

Hedge Funds Weigh In On Perimeter Solutions

Institutional investors have recently bought and sold shares of the stock. Quarry LP purchased a new stake in Perimeter Solutions in the 3rd quarter worth approximately $52,000. Lazard Asset Management LLC bought a new stake in Perimeter Solutions during the 1st quarter valued at approximately $78,000. SG Americas Securities LLC purchased a new position in Perimeter Solutions in the 1st quarter worth approximately $86,000. Paloma Partners Management Co bought a new position in Perimeter Solutions in the 1st quarter worth approximately $87,000. Finally, Versor Investments LP purchased a new stake in Perimeter Solutions during the 2nd quarter valued at approximately $102,000. 89.93% of the stock is owned by institutional investors.

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.