Perma-Fix Environmental Services (NASDAQ:PESI) Shares Pass Above 200-Day Moving Average – Here’s Why

Perma-Fix Environmental Services, Inc. (NASDAQ:PESI) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $11.20 and traded as high as $14.80. Perma-Fix Environmental Services shares last traded at $13.42, with a volume of 106,866 shares changing hands.

Analysts Set New Price Targets

Separately, StockNews.com raised Perma-Fix Environmental Services to a “sell” rating in a research note on Friday.

Perma-Fix Environmental Services Price Performance

The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.52 and a current ratio of 1.56. The company has a 50-day simple moving average of $12.16 and a 200-day simple moving average of $11.20. The company has a market cap of $212.04 million, a price-to-earnings ratio of -26.84 and a beta of 0.49.

Perma-Fix Environmental Services (NASDAQ:PESI) last released its earnings results on Thursday, August 8th. The industrial products company reported ($0.26) earnings per share (EPS) for the quarter. Perma-Fix Environmental Services had a negative return on equity of 15.78% and a negative net margin of 9.82%. The business had revenue of $13.99 million for the quarter.

Hedge Funds Weigh In On Perma-Fix Environmental Services

Several institutional investors and hedge funds have recently added to or reduced their stakes in PESI. Essex Investment Management Co. LLC increased its position in Perma-Fix Environmental Services by 1.6% during the 1st quarter. Essex Investment Management Co. LLC now owns 189,450 shares of the industrial products company’s stock worth $2,253,000 after purchasing an additional 2,914 shares during the period. Fermata Advisors LLC increased its position in Perma-Fix Environmental Services by 22.9% during the 2nd quarter. Fermata Advisors LLC now owns 15,086 shares of the industrial products company’s stock worth $153,000 after purchasing an additional 2,811 shares during the period. Bank of New York Mellon Corp acquired a new position in Perma-Fix Environmental Services during the 2nd quarter worth approximately $338,000. Van ECK Associates Corp acquired a new stake in shares of Perma-Fix Environmental Services in the 2nd quarter worth approximately $1,641,000. Finally, Rhumbline Advisers acquired a new stake in shares of Perma-Fix Environmental Services in the 2nd quarter worth approximately $134,000. Institutional investors and hedge funds own 25.52% of the company’s stock.

Perma-Fix Environmental Services Company Profile

Perma-Fix Environmental Services, Inc, through its subsidiaries, operates as an environmental and technology know-how company in the United States. The company through Treatment and Services segments. The Treatment segment offers nuclear, low-level radioactive, mixed waste, hazardous and non-hazardous waste treatment, and processing and disposal services through treatment and storage facilities.