Perimeter Solutions (NYSE:PRM) Shares Up 3% - Here's What Happened

Shares of Perimeter Solutions, SA (NYSE:PRM - Get Free Report) were up 3% on Wednesday . The company traded as high as $12.17 and last traded at $12.07. Approximately 93,382 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 642,168 shares. The stock had previously closed at $11.72.

Analysts Set New Price Targets

Separately, Morgan Stanley upped their target price on shares of Perimeter Solutions from $14.00 to $18.00 and gave the company an "overweight" rating in a research note on Monday, September 16th.

Perimeter Solutions Price Performance

The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.95 and a current ratio of 3.91. The firm has a market capitalization of $1.75 billion, a price-to-earnings ratio of -10.59 and a beta of 1.91. The company has a 50-day moving average of $12.95 and a 200-day moving average of $11.58.

Perimeter Solutions (NYSE:PRM - Get Free Report) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.61) earnings per share for the quarter, missing the consensus estimate of $0.61 by ($1.22). The firm had revenue of $288.42 million for the quarter, compared to the consensus estimate of $265.30 million. Perimeter Solutions had a negative return on equity of 10.08% and a negative net margin of 30.57%. During the same quarter in the previous year, the business earned $0.31 EPS. As a group, research analysts anticipate that Perimeter Solutions, SA will post -1.1 EPS for the current fiscal year.

Insider Buying and Selling at Perimeter Solutions

In related news, Director Tracy Britt Cool sold 50,000 shares of Perimeter Solutions stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $12.81, for a total transaction of $640,500.00. Following the completion of the sale, the director now owns 173,449 shares of the company's stock, valued at approximately $2,221,881.69. This trade represents a 22.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Haitham Khouri sold 80,156 shares of the firm's stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $12.16, for a total value of $974,696.96. Following the transaction, the chief executive officer now owns 249,833 shares in the company, valued at approximately $3,037,969.28. The trade was a 24.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 210,156 shares of company stock worth $2,579,197. Insiders own 8.70% of the company's stock.

Institutional Investors Weigh In On Perimeter Solutions

Several large investors have recently bought and sold shares of the business. Quarry LP bought a new position in shares of Perimeter Solutions in the third quarter worth approximately $52,000. Orion Portfolio Solutions LLC bought a new stake in Perimeter Solutions during the third quarter worth approximately $138,000. Landscape Capital Management L.L.C. bought a new position in Perimeter Solutions during the third quarter valued at $148,000. Jag Capital Management LLC purchased a new stake in shares of Perimeter Solutions in the third quarter worth approximately $158,000. Finally, CWM LLC grew its holdings in shares of Perimeter Solutions by 22.8% in the third quarter. CWM LLC now owns 12,251 shares of the company's stock worth $165,000 after purchasing an additional 2,276 shares during the last quarter. 89.93% of the stock is currently owned by institutional investors.

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.