Perimeter Solutions (NYSE:PRM) Shares Gap Up – Here’s What Happened

Perimeter Solutions, SA (NYSE:PRM)’s share price gapped up prior to trading 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.

Analyst Upgrades and Downgrades

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

Perimeter Solutions Trading Up 12.7 %

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

Perimeter Solutions (NYSE:PRM) last released its earnings results on Thursday, February 20th. The company reported $0.11 EPS for the quarter, beating the consensus estimate of ($0.10) by $0.21. Perimeter Solutions had a negative net margin of 1.05% and a negative return on equity of 7.62%. The firm had revenue of $86.23 million during the quarter, compared to analysts’ expectations of $77.01 million. Sell-side analysts expect that Perimeter Solutions, SA will post 0.71 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Vivek Raj sold 250,000 shares of the business’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of $9.17, for a total value of $2,292,500.00. Following the sale, the director now owns 471,226 shares in the company, valued at approximately $4,321,142.42. The trade was a 34.66 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 8.70% of the company’s stock.

Institutional Investors Weigh In On Perimeter Solutions

A number of large investors have recently bought and sold shares of PRM. Comerica Bank bought a new position in shares of Perimeter Solutions in the fourth quarter worth about $38,000. Quarry LP acquired a new position in Perimeter Solutions during the 3rd quarter worth $52,000. McAdam LLC bought a new position in Perimeter Solutions in the 4th quarter valued at $131,000. Tower Research Capital LLC TRC increased its stake in shares of Perimeter Solutions by 90.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 10,665 shares of the company’s stock valued at $136,000 after buying an additional 5,054 shares during the period. Finally, Quantinno Capital Management LP acquired a new position in shares of Perimeter Solutions during the fourth quarter valued at $136,000. 89.93% of the stock is currently 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.