Perimeter Solutions (NYSE:PRM) Trading Down 13.6% – Here’s What Happened

Shares of Perimeter Solutions, SA (NYSE:PRM) were down 13.6% during trading on Thursday . The company traded as low as $22.58 and last traded at $22.7960. Approximately 204,669 shares changed hands during mid-day trading, a decline of 75% from the average daily volume of 816,744 shares. The stock had previously closed at $26.37.

Analyst Ratings Changes

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

Perimeter Solutions Stock Down 8.1%

The company has a 50-day moving average of $27.47 and a 200-day moving average of $24.80. The company has a current ratio of 2.22, a quick ratio of 1.72 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $3.58 billion, a price-to-earnings ratio of 57.59 and a beta of 1.96.

Perimeter Solutions (NYSE:PRM) last announced 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. The firm had revenue of $102.75 million during the quarter, compared to analyst estimates of $94.05 million. Perimeter Solutions had a net margin of 12.26% and a return on equity of 17.33%. On average, equities analysts predict that Perimeter Solutions, SA will post 0.71 earnings per share for the current fiscal year.

Insider Buying and Selling at Perimeter Solutions

In other news, CFO Kyle Sable sold 100,000 shares of the business’s stock in a transaction on 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 document filed with the SEC, which can be accessed through the SEC website. 10.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PRM. Jones Financial Companies Lllp acquired a new stake in Perimeter Solutions during the 3rd quarter worth about $27,000. Arax Advisory Partners boosted its stake in shares of Perimeter Solutions by 122.8% in the fourth 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. grew its holdings in Perimeter Solutions by 51.6% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,143 shares of the company’s stock worth $31,000 after acquiring an additional 389 shares during the period. EverSource Wealth Advisors LLC acquired a new stake in Perimeter Solutions during the second quarter worth about $42,000. Finally, Comerica Bank raised its position in Perimeter Solutions by 45.0% during 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 in the last quarter. 89.93% of the stock is currently 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.