Perimeter Solutions (NYSE:PRM) Shares Down 13.6% – What’s Next?

Perimeter Solutions, SA (NYSE:PRM)’s share price fell 13.6% during trading on Thursday . The stock traded as low as $22.58 and last traded at $22.7960. 204,669 shares traded hands during mid-day trading, a decline of 75% from the average session volume of 816,744 shares. The stock had previously closed at $26.37.

Wall Street Analyst Weigh In

PRM has been the subject of several analyst reports. Zacks Research cut shares of Perimeter Solutions from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 17th. Morgan Stanley set a $35.00 price objective on shares of Perimeter Solutions in a report on Monday, December 15th. Weiss Ratings reissued a “hold (c-)” rating on shares of Perimeter Solutions in a research note on Thursday, January 22nd. Finally, UBS Group cut Perimeter Solutions from a “buy” rating to a “neutral” rating and raised their target price for the company from $30.00 to $31.00 in a research report on Monday, January 12th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $33.00.

Perimeter Solutions Stock Performance

The company has a quick ratio of 1.72, a current ratio of 2.22 and a debt-to-equity ratio of 0.61. The firm has a 50-day moving average price of $27.47 and a two-hundred day moving average price of $24.80. The firm has a market cap of $3.58 billion, a PE ratio of 57.59 and a beta of 1.96.

Perimeter Solutions (NYSE:PRM) last posted its quarterly earnings data on Thursday, February 26th. The company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.09 by $0.04. Perimeter Solutions had a return on equity of 17.33% and a net margin of 12.26%.The firm had revenue of $102.75 million during the quarter, compared to the consensus estimate of $94.05 million. Research analysts forecast that Perimeter Solutions, SA will post 0.71 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Kyle Sable sold 100,000 shares of the company’s stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $28.47, for a total transaction of $2,847,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 10.00% of the company’s stock.

Institutional Trading of Perimeter Solutions

Hedge funds and other institutional investors have recently modified their holdings of the stock. Jones Financial Companies Lllp purchased a new position in Perimeter Solutions during the third quarter worth about $27,000. Arax Advisory Partners increased its holdings in shares of Perimeter Solutions by 122.8% during the 4th 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. raised its position in shares of Perimeter Solutions by 51.6% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,143 shares of the company’s stock valued at $31,000 after buying an additional 389 shares during the period. EverSource Wealth Advisors LLC acquired a new position in Perimeter Solutions in the second quarter valued at approximately $42,000. Finally, Comerica Bank lifted its holdings in Perimeter Solutions by 45.0% in the first quarter. Comerica Bank now owns 4,267 shares of the company’s stock valued at $43,000 after acquiring an additional 1,324 shares during the last quarter. 89.93% of the stock is owned by institutional investors and hedge funds.

Perimeter Solutions Company Profile

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.