Perimeter Solutions (NYSE:PRM) Shares Gap Up - Here's What Happened

Perimeter Solutions, SA (NYSE:PRM - Get Free Report)'s stock 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 changing hands.

Wall Street Analyst Weigh In

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 research report on Wednesday.

Perimeter Solutions Stock Down 3.2 %

The firm has a market capitalization of $1.54 billion, a PE ratio of -73.39 and a beta of 1.93. The company has a current ratio of 3.91, a quick ratio of 2.95 and a debt-to-equity ratio of 0.67. The firm has a 50-day moving average of $10.97 and a two-hundred day moving average of $12.24.

Perimeter Solutions (NYSE:PRM - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The company reported $0.11 earnings per share (EPS) for the quarter, topping 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 company had revenue of $86.23 million during the quarter, compared to analyst estimates of $77.01 million. On average, equities research analysts forecast that Perimeter Solutions, SA will post 0.71 EPS for the current year.

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Insider Activity

In related news, Director Vivek Raj sold 250,000 shares of the company'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 directly owns 471,226 shares of the company's stock, valued at $4,321,142.42. This represents a 34.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 8.70% of the company's stock.

Institutional Trading of Perimeter Solutions

A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in Perimeter Solutions by 136.8% during the 4th quarter. Vanguard Group Inc. now owns 8,211,593 shares of the company's stock worth $104,944,000 after buying an additional 4,744,069 shares during the last quarter. Corient Private Wealth LLC bought a new stake in Perimeter Solutions in the 4th quarter valued at about $41,780,000. JPMorgan Chase & Co. boosted its stake in Perimeter Solutions by 19.9% during the 4th quarter. JPMorgan Chase & Co. now owns 5,856,611 shares of the company's stock valued at $74,847,000 after purchasing an additional 971,623 shares during the period. Bessemer Group Inc. increased its stake in shares of Perimeter Solutions by 10,103.3% in the fourth quarter. Bessemer Group Inc. now owns 923,811 shares of the company's stock valued at $11,806,000 after purchasing an additional 914,757 shares during the period. Finally, Catawba River Capital acquired a new position in shares of Perimeter Solutions during the fourth quarter worth approximately $7,658,000. 89.93% of the stock is owned by institutional investors and hedge funds.

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.