Maxim Group Cuts Perfect Moment (NASDAQ:PMNT) Price Target to $0.40

Perfect Moment (NASDAQ:PMNT) had its price target lowered by equities researchers at Maxim Group from $1.50 to $0.40 in a research note issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Maxim Group’s price objective suggests a potential upside of 240.43% from the company’s previous close.

Perfect Moment Price Performance

Shares of Perfect Moment stock remained flat at $0.12 on Tuesday. The company’s stock had a trading volume of 99,946 shares, compared to its average volume of 5,878,337. The firm has a market cap of $6.14 million, a P/E ratio of -0.09 and a beta of -1.92. Perfect Moment has a 52-week low of $0.07 and a 52-week high of $0.72. The business has a 50 day moving average price of $0.23 and a 200-day moving average price of $0.29.

Institutional Trading of Perfect Moment

An institutional investor recently bought a new position in Perfect Moment stock. Citadel Advisors LLC purchased a new stake in shares of Perfect Moment Ltd. (NASDAQ:PMNT) in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 126,151 shares of the company’s stock, valued at approximately $56,000. Citadel Advisors LLC owned approximately 0.36% of Perfect Moment at the end of the most recent quarter. Hedge funds and other institutional investors own 23.00% of the company’s stock.

About Perfect Moment

Perfect Moment Inc (NASDAQ: PMNT) is a special purpose acquisition company (SPAC) incorporated in Delaware and based in New York City. The company was formed to raise capital through an initial public offering, with the express purpose of identifying and completing a business combination with one or more businesses in the consumer, retail, sports, wellness or related sectors. As a blank?check vehicle, Perfect Moment holds IPO proceeds in trust while it evaluates target opportunities that align with its strategic focus on high-growth consumer platforms and service?based enterprises.

The company completed its initial public offering in early 2021, securing gross proceeds intended to fund a merger or acquisition that would bring a private business public.