Perimeter Solutions (NYSE:PRM) Shares Up 14.5% on Earnings Beat

Perimeter Solutions, SA (NYSE:PRM)’s share price rose 14.5% during trading on Thursday following a stronger than expected earnings report. The company traded as high as $11.76 and last traded at $11.74. Approximately 1,016,594 shares traded hands during mid-day trading, an increase of 10% from the average daily volume of 920,199 shares. The stock had previously closed at $10.25.

The company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.12. The company had revenue of $72.03 million for the quarter, compared to analyst estimates of $75.00 million. Perimeter Solutions had a negative return on equity of 7.62% and a negative net margin of 1.05%.

Wall Street Analyst Weigh In

Separately, UBS Group raised shares of Perimeter Solutions from a “neutral” rating to a “buy” rating and set a $14.00 price target on the stock in a research report on Wednesday, March 26th.

Insiders Place Their Bets

In other Perimeter Solutions news, Director Vivek Raj sold 250,000 shares of the firm’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $9.17, for a total value of $2,292,500.00. Following the transaction, the director now directly owns 471,226 shares of the company’s stock, valued at $4,321,142.42. This trade represents a 34.66 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 8.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Comerica Bank acquired a new stake in shares of Perimeter Solutions in the 4th quarter valued at $38,000. Harbor Investment Advisory LLC grew its position in Perimeter Solutions by 25.6% in the first quarter. Harbor Investment Advisory LLC now owns 9,315 shares of the company’s stock valued at $94,000 after acquiring an additional 1,899 shares during the last quarter. Xponance Inc. acquired a new position in Perimeter Solutions during the first quarter worth about $101,000. Gilbert & Cook Inc. bought a new position in shares of Perimeter Solutions in the first quarter worth about $104,000. Finally, New York State Teachers Retirement System acquired a new stake in shares of Perimeter Solutions in the 1st quarter valued at approximately $123,000. 89.93% of the stock is owned by institutional investors.

Perimeter Solutions Stock Up 15.1 %

The firm’s fifty day moving average is $9.82 and its 200-day moving average is $11.66. The company has a market capitalization of $1.75 billion, a P/E ratio of -84.24 and a beta of 1.88. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.95 and a current ratio of 3.91.

Perimeter Solutions Company Profile

Perimeter Solutions, SA manufactures and supplies firefighting products and lubricant additives in the United States, Germany, and internationally. It operates in two segments, Fire Safety and Specialty Products. The Fire Safety segment provides fire retardants and firefighting foams, as well as specialized equipment and services for federal, state, provincial, local/municipal, and commercial customers.