Perimeter Solutions (NYSE:PRM) Shares Gap Up - Time to Buy?

Perimeter Solutions, SA (NYSE:PRM - Get Free Report)'s stock price gapped up before the market opened 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 trading hands.

Analyst Ratings Changes

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

Perimeter Solutions Stock Up 0.3 %

The company has a debt-to-equity ratio of 0.67, a current ratio of 3.91 and a quick ratio of 1.87. The company has a market capitalization of $1.78 billion, a price-to-earnings ratio of -10.76 and a beta of 2.02. The firm has a 50-day moving average price of $12.91 and a two-hundred day moving average price of $10.16.

Insider Buying and Selling at Perimeter Solutions

In other Perimeter Solutions news, CEO Haitham Khouri sold 80,156 shares of Perimeter Solutions stock in a transaction 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 sale, the chief executive officer now directly owns 249,833 shares in the company, valued at approximately $3,037,969.28. The trade was a 24.29 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 8.70% of the company's stock.

Hedge Funds Weigh In On Perimeter Solutions

Several hedge funds have recently modified their holdings of the stock. DF Dent & Co. Inc. boosted its position in Perimeter Solutions by 27.4% during the third quarter. DF Dent & Co. Inc. now owns 2,341,963 shares of the company's stock valued at $31,499,000 after purchasing an additional 504,146 shares during the last quarter. Senator Investment Group LP boosted its holdings in shares of Perimeter Solutions by 0.5% in the 2nd quarter. Senator Investment Group LP now owns 2,125,000 shares of the company's stock valued at $16,639,000 after buying an additional 10,700 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Perimeter Solutions by 59.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,878,518 shares of the company's stock valued at $14,708,000 after buying an additional 698,622 shares in the last quarter. Pennant Select LLC increased its holdings in Perimeter Solutions by 41.6% during the third quarter. Pennant Select LLC now owns 814,000 shares of the company's stock worth $10,948,000 after buying an additional 239,000 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in Perimeter Solutions by 4.3% during the second quarter. Bank of New York Mellon Corp now owns 509,868 shares of the company's stock worth $3,992,000 after acquiring an additional 21,012 shares in the last quarter. Institutional investors own 89.93% of the company's stock.

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.