Perimeter Solutions (NYSE:PRM) Trading Down 5% – What’s Next?

Perimeter Solutions, SA (NYSE:PRM) dropped 5% on Tuesday . The stock traded as low as $30.18 and last traded at $30.0450. 454,498 shares changed hands during trading, a decline of 65% from the average daily volume of 1,295,026 shares. The stock had previously closed at $31.63.

Analysts Set New Price Targets

PRM has been the topic of several research reports. Weiss Ratings cut shares of Perimeter Solutions from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, August 12th. CJS Securities initiated coverage on shares of Perimeter Solutions in a research note on Tuesday, June 9th. They issued a “market outperform” rating and a $48.00 price objective for the company. Wall Street Zen cut shares of Perimeter Solutions from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Zacks Research downgraded shares of Perimeter Solutions from a “hold” rating to a “strong sell” rating in a report on Monday, August 10th. Finally, JPMorgan Chase & Co. dropped their price target on Perimeter Solutions from $50.00 to $45.00 and set an “overweight” rating for the company in a research report on Monday, August 3rd. Four research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $41.75.

Perimeter Solutions Trading Down 5.0%

The company’s 50 day moving average price is $32.78 and its two-hundred day moving average price is $30.74. The firm has a market cap of $4.92 billion, a PE ratio of -13.49 and a beta of 1.90. The company has a quick ratio of 0.93, a current ratio of 1.57 and a debt-to-equity ratio of 1.19.

Perimeter Solutions (NYSE:PRM) last issued its quarterly earnings results on Friday, July 31st. The company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.08). Perimeter Solutions had a negative net margin of 44.86% and a positive return on equity of 19.15%. The firm had revenue of $213.81 million for the quarter, compared to the consensus estimate of $216.89 million. As a group, sell-side analysts forecast that Perimeter Solutions, SA will post 1.54 EPS for the current year.

Insider Activity at Perimeter Solutions

In other news, major shareholder Windacre Partnership Llc sold 3,393,479 shares of the stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $34.66, for a total value of $117,617,982.14. Following the sale, the insider directly owned 18,461,121 shares in the company, valued at approximately $639,862,453.86. This represents a 15.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold a total of 5,705,979 shares of company stock worth $195,617,982 over the last quarter. Corporate insiders own 13.10% of the company’s stock.

Hedge Funds Weigh In On Perimeter Solutions

Hedge funds have recently bought and sold shares of the business. EverSource Wealth Advisors LLC increased its stake in shares of Perimeter Solutions by 20.0% in the first quarter. EverSource Wealth Advisors LLC now owns 2,295 shares of the company’s stock worth $56,000 after acquiring an additional 383 shares during the period. GAMMA Investing LLC boosted its holdings in Perimeter Solutions by 9.0% in the second quarter. GAMMA Investing LLC now owns 5,127 shares of the company’s stock valued at $183,000 after purchasing an additional 425 shares during the last quarter. Allworth Financial LP boosted its holdings in Perimeter Solutions by 14.1% in the fourth quarter. Allworth Financial LP now owns 4,100 shares of the company’s stock valued at $113,000 after purchasing an additional 508 shares during the last quarter. Financial Management Professionals Inc. acquired a new stake in Perimeter Solutions during the 2nd quarter worth about $26,000. Finally, Larson Financial Group LLC grew its position in Perimeter Solutions by 55.7% during the 4th quarter. Larson Financial Group LLC now owns 2,514 shares of the company’s stock worth $69,000 after purchasing an additional 899 shares during the period. Institutional investors own 89.93% of the company’s stock.

Perimeter Solutions Company Profile

Perimeter Solutions, Inc is a specialty chemicals and fire-safety company that develops, manufactures and supplies products used in wildfire control, industrial fire protection and chemical applications. The company serves customers across North America and international markets through a portfolio of fire-safety and specialty chemical products.

Its fire-safety business provides firefighting foams, fire retardants and related solutions for wildland firefighting, aviation, military, industrial and municipal applications.