Perimeter Solutions (NYSE:PRM) Stock Price Down 5.8% – Here’s Why

by · The Cerbat Gem

Perimeter Solutions, SA (NYSE:PRMGet Free Report)’s stock price traded down 5.8% during mid-day trading on Thursday . The company traded as low as $31.63 and last traded at $31.5570. 516,725 shares changed hands during trading, a decline of 54% from the average session volume of 1,114,767 shares. The stock had previously closed at $33.50.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. UBS Group boosted their price objective on shares of Perimeter Solutions from $30.00 to $34.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Weiss Ratings upgraded Perimeter Solutions from a “sell (d-)” rating to a “sell (d)” rating in a report on Monday, May 11th. Wall Street Zen upgraded Perimeter Solutions from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Zacks Research upgraded Perimeter Solutions from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 14th. Finally, Morgan Stanley upped their target price on shares of Perimeter Solutions from $35.00 to $40.00 and gave the stock an “overweight” rating in a research report on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.00.

Read Our Latest Research Report on PRM

Perimeter Solutions Price Performance

The firm has a 50 day moving average of $26.99 and a two-hundred day moving average of $26.91. The company has a market cap of $5.12 billion, a PE ratio of -23.43 and a beta of 1.93. The company has a current ratio of 3.09, a quick ratio of 1.61 and a debt-to-equity ratio of 1.01.

Perimeter Solutions (NYSE:PRMGet Free Report) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.02 by $0.04. Perimeter Solutions had a negative net margin of 26.93% and a positive return on equity of 18.29%. The company had revenue of $125.07 million for the quarter, compared to the consensus estimate of $121.80 million. Research analysts predict that Perimeter Solutions, SA will post 1.91 earnings per share for the current fiscal year.

Insider Activity at Perimeter Solutions

In other Perimeter Solutions news, insider Jeffrey Emery sold 53,537 shares of the stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $33.45, for a total transaction of $1,790,812.65. Following the sale, the insider directly owned 53,537 shares in the company, valued at approximately $1,790,812.65. This trade represents a 50.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director William N. Thorndike, Jr. sold 100,000 shares of the stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $23.63, for a total value of $2,363,000.00. Following the sale, the director owned 8,635,656 shares in the company, valued at approximately $204,060,551.28. This represents a 1.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 900,000 shares of company stock valued at $25,285,053. 13.10% of the stock is owned by insiders.

Institutional Trading of Perimeter Solutions

A number of institutional investors have recently made changes to their positions in the stock. Arax Advisory Partners boosted its holdings in shares of Perimeter Solutions by 122.8% in the fourth quarter. Arax Advisory Partners now owns 1,047 shares of the company’s stock worth $29,000 after buying an additional 577 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Perimeter Solutions by 51.6% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,143 shares of the company’s stock worth $31,000 after buying an additional 389 shares during the last quarter. Jones Financial Companies Lllp purchased a new position in Perimeter Solutions during the third quarter valued at $27,000. EverSource Wealth Advisors LLC lifted its position in Perimeter Solutions by 20.0% during the first quarter. EverSource Wealth Advisors LLC now owns 2,295 shares of the company’s stock valued at $56,000 after purchasing an additional 383 shares in the last quarter. Finally, Larson Financial Group LLC lifted its position in Perimeter Solutions by 55.7% during the fourth quarter. Larson Financial Group LLC now owns 2,514 shares of the company’s stock valued at $69,000 after purchasing an additional 899 shares in the last quarter. Hedge funds and other institutional investors own 89.93% of the company’s stock.

Perimeter Solutions Company Profile

(Get Free Report)

Perimeter Solutions Ltd. (NYSE: PRM) is a global specialty chemicals company focused on delivering performance-driven solutions for the oil and gas, coatings, plastics, water treatment and packaging markets. Established as an independent publicly traded company in December 2019 following its spin-off from NewMarket Corporation, Perimeter Solutions has positioned itself as a leading provider of highly engineered chemical products designed to optimize upstream oil recovery, protect infrastructure and enhance the performance of industrial processes.

The company’s core product portfolio spans several key segments.

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