Perimeter Solutions (NYSE:PRM) Trading Up 14.5% Following Earnings Beat

Perimeter Solutions, SA (NYSE:PRM)’s stock price was up 14.5% during mid-day trading on Thursday after the company announced better than expected quarterly earnings. The stock traded as high as $11.76 and last traded at $11.74. Approximately 1,016,594 shares traded hands during mid-day trading, an increase of 10% from the average daily volume of 920,199 shares. The stock had previously closed at $10.25.

The company reported $0.03 earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.12. The firm had revenue of $72.03 million for the quarter, compared to analysts’ expectations of $75.00 million. Perimeter Solutions had a negative net margin of 1.05% and a negative return on equity of 7.62%.

Wall Street Analysts Forecast Growth

Separately, UBS Group upgraded Perimeter Solutions from a “neutral” rating to a “buy” rating and set a $14.00 price objective for the company in a research note on Wednesday, March 26th.

Insider Activity at Perimeter Solutions

In other news, Director Vivek Raj sold 250,000 shares of the firm’s 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 sale, the director now directly owns 471,226 shares in the company, valued at $4,321,142.42. This trade represents a 34.66 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 8.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Perimeter Solutions

Institutional investors and hedge funds have recently bought and sold shares of the business. Comerica Bank bought a new position in shares of Perimeter Solutions in the fourth quarter worth about $38,000. Harbor Investment Advisory LLC boosted its stake in Perimeter Solutions by 25.6% in the 1st quarter. Harbor Investment Advisory LLC now owns 9,315 shares of the company’s stock worth $94,000 after purchasing an additional 1,899 shares during the period. Xponance Inc. bought a new position in Perimeter Solutions in the 1st quarter worth approximately $101,000. Gilbert & Cook Inc. purchased a new stake in Perimeter Solutions during the 1st quarter valued at approximately $104,000. Finally, New York State Teachers Retirement System bought a new stake in shares of Perimeter Solutions during the first quarter valued at approximately $123,000. 89.93% of the stock is owned by institutional investors.

Perimeter Solutions Price Performance

The company has a quick ratio of 2.95, a current ratio of 3.91 and a debt-to-equity ratio of 0.67. The firm’s fifty day moving average price is $9.86 and its 200 day moving average price is $11.65. The stock has a market cap of $1.73 billion, a PE ratio of -83.14 and a beta of 1.88.

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.