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

Perma-Fix Environmental Services, Inc. (NASDAQ:PESI)’s share price passed above its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $13.87 and traded as high as $14.39. Perma-Fix Environmental Services shares last traded at $14.05, with a volume of 358,495 shares.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Perma-Fix Environmental Services in a research note on Tuesday, September 22nd. Zacks Research raised shares of Perma-Fix Environmental Services to a “hold” rating in a report on Friday, October 2nd. Finally, Wall Street Zen raised Perma-Fix Environmental Services from a “strong sell” rating to a “sell” rating in a report on Saturday. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Reduce”.

Perma-Fix Environmental Services Stock Up 9.4%

The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.58 and a current ratio of 1.67. The firm’s 50-day simple moving average is $15.26 and its 200 day simple moving average is $13.87. The company has a market capitalization of $298.11 million, a PE ratio of -11.81 and a beta of 0.59.

Perma-Fix Environmental Services (NASDAQ:PESI) last announced its quarterly earnings results on Thursday, November 5th. The industrial products company reported ($0.16) EPS for the quarter, topping the consensus estimate of ($0.21) by $0.05. The business had revenue of $17.95 million for the quarter, compared to analyst estimates of $14.90 million. Perma-Fix Environmental Services had a negative return on equity of 39.57% and a negative net margin of 39.55%. As a group, equities research analysts forecast that Perma-Fix Environmental Services, Inc. will post -1.02 earnings per share for the current year.

Institutional Trading of Perma-Fix Environmental Services

Large investors have recently made changes to their positions in the stock. CenterBook Partners LP acquired a new position in shares of Perma-Fix Environmental Services in the third quarter valued at approximately $5,615,000. Pale Fire Capital SE boosted its holdings in Perma-Fix Environmental Services by 14.4% in the second quarter. Pale Fire Capital SE now owns 55,627 shares of the industrial products company’s stock valued at $795,000 after acquiring an additional 7,001 shares during the last quarter. Diamond Hill Capital Management LLC Investment Advisor acquired a new position in Perma-Fix Environmental Services during the second quarter valued at approximately $9,182,000. Bank of New York Mellon Corp purchased a new stake in Perma-Fix Environmental Services during the 2nd quarter worth $544,000. Finally, Bank of America Corp DE boosted its position in shares of Perma-Fix Environmental Services by 3.5% in the first quarter. Bank of America Corp DE now owns 45,190 shares of the industrial products company’s stock worth $483,000 after buying an additional 1,524 shares during the period. Institutional investors and hedge funds own 25.52% of the company’s stock.

About Perma-Fix Environmental Services

Perma-Fix Environmental Services, Inc provides treatment, processing and disposal services for radioactive, mixed and hazardous waste. The company serves customers that generate waste through nuclear energy production, government and defense programs, research, medical activities and other industrial operations.

Its services include the treatment of low-level radioactive waste and mixed waste, which contains both radioactive and hazardous components. Perma-Fix uses specialized technologies and licensed treatment facilities to process waste streams, reduce their volume or hazardous characteristics, and prepare them for compliant disposal.