Perimeter Solutions, SA (NYSE:PRM) Short Interest Down 23.0% in November

Perimeter Solutions, SA (NYSE:PRM) was the target of a significant drop in short interest during the month of November. As of November 15th, there was short interest totalling 1,670,000 shares, a drop of 23.0% from the October 31st total of 2,170,000 shares. Approximately 1.2% of the company’s shares are short sold. Based on an average daily volume of 769,800 shares, the days-to-cover ratio is presently 2.2 days.

Perimeter Solutions Stock Performance

NYSE:PRM traded up $0.20 during mid-day trading on Friday, hitting $12.80. The company’s stock had a trading volume of 328,892 shares, compared to its average volume of 1,136,049. The business’s fifty day moving average is $13.11 and its two-hundred day moving average is $10.57. The stock has a market cap of $1.87 billion, a price-to-earnings ratio of -11.33 and a beta of 2.02. The company has a debt-to-equity ratio of 0.67, a current ratio of 3.91 and a quick ratio of 2.95. Perimeter Solutions has a 1 year low of $3.84 and a 1 year high of $14.44.

Perimeter Solutions (NYSE:PRM) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.61) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by ($1.22). The company had revenue of $288.42 million during the quarter, compared to analyst estimates of $265.30 million. Perimeter Solutions had a negative net margin of 30.57% and a negative return on equity of 10.08%. During the same period in the previous year, the firm posted $0.31 earnings per share. Analysts anticipate that Perimeter Solutions will post 0.62 EPS for the current fiscal year.

Insider Transactions at Perimeter Solutions

In other Perimeter Solutions news, Director Tracy Britt Cool sold 50,000 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $12.81, for a total value of $640,500.00. Following the completion of the sale, the director now directly owns 173,449 shares in the company, valued at approximately $2,221,881.69. This represents a 22.38 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Haitham Khouri sold 80,000 shares of Perimeter Solutions stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $12.05, for a total value of $964,000.00. Following the completion of the sale, the chief executive officer now owns 429,989 shares of the company’s stock, valued at $5,181,367.45. The trade was a 15.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 210,156 shares of company stock worth $2,579,197. 8.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Perimeter Solutions

Hedge funds have recently bought and sold shares of the business. Quarry LP purchased a new position in Perimeter Solutions during the third quarter valued at $52,000. Lazard Asset Management LLC acquired a new stake in Perimeter Solutions in the 1st quarter worth about $78,000. Versor Investments LP purchased a new stake in Perimeter Solutions during the 2nd quarter worth approximately $102,000. Orion Portfolio Solutions LLC acquired a new position in shares of Perimeter Solutions during the third quarter valued at approximately $138,000. Finally, Bayesian Capital Management LP lifted its position in shares of Perimeter Solutions by 40.1% in the first quarter. Bayesian Capital Management LP now owns 19,201 shares of the company’s stock valued at $142,000 after acquiring an additional 5,500 shares in the last quarter. Hedge funds and other institutional investors own 89.93% of the company’s stock.

Analyst Ratings Changes

PRM has been the subject of several recent analyst reports. UBS Group boosted their price objective on shares of Perimeter Solutions from $8.75 to $11.00 and gave the stock a “neutral” rating in a research note on Friday, August 16th. Morgan Stanley upped their price target on Perimeter Solutions from $14.00 to $18.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th.

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.