Perimeter Solutions, SA (NYSE:PRM) Sees Large Decrease in Short Interest

Perimeter Solutions, SA (NYSE:PRM) saw a significant decrease in short interest in September. As of September 15th, there was short interest totalling 2,210,000 shares, a decrease of 19.3% from the August 31st total of 2,740,000 shares. Approximately 1.6% of the company’s shares are sold short. Based on an average daily volume of 744,900 shares, the short-interest ratio is presently 3.0 days.

Analysts Set New Price Targets

A number of equities analysts recently commented on PRM shares. UBS Group raised their target price on Perimeter Solutions from $8.75 to $11.00 and gave the company a “neutral” rating in a report on Friday, August 16th. Morgan Stanley raised their price objective 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.

Institutional Trading of Perimeter Solutions

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Quadrant Capital Group LLC lifted its stake in Perimeter Solutions by 136.5% during the fourth quarter. Quadrant Capital Group LLC now owns 5,540 shares of the company’s stock worth $25,000 after purchasing an additional 3,198 shares during the last quarter. Fidelis Capital Partners LLC acquired a new position in shares of Perimeter Solutions in the 1st quarter valued at $47,000. Lazard Asset Management LLC acquired a new position in shares of Perimeter Solutions in the 1st quarter valued at $78,000. SG Americas Securities LLC purchased a new position in shares of Perimeter Solutions in the 1st quarter valued at $86,000. Finally, Paloma Partners Management Co acquired a new stake in Perimeter Solutions during the 1st quarter worth $87,000. 89.93% of the stock is currently owned by institutional investors and hedge funds.

Perimeter Solutions Stock Up 0.8 %

NYSE PRM traded up $0.11 during trading hours on Friday, hitting $13.24. 827,044 shares of the company were exchanged, compared to its average volume of 743,398. The company has a quick ratio of 1.87, a current ratio of 3.61 and a debt-to-equity ratio of 0.63. The firm has a market cap of $1.92 billion, a price-to-earnings ratio of -57.09 and a beta of 2.00. The company has a 50 day moving average of $10.87 and a two-hundred day moving average of $8.62. Perimeter Solutions has a 52-week low of $2.79 and a 52-week high of $13.40.

Perimeter Solutions (NYSE:PRM) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.11. Perimeter Solutions had a negative net margin of 14.12% and a positive return on equity of 2.94%. The company had revenue of $127.28 million during the quarter, compared to the consensus estimate of $113.41 million. During the same quarter in the previous year, the firm earned ($0.05) earnings per share. Equities research analysts anticipate that Perimeter Solutions will post 0.49 earnings per share for the current year.

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.