Perma-Fix Environmental Services (NASDAQ:PESI) Share Price Passes Above 200 Day Moving Average – Here’s Why

Shares of Perma-Fix Environmental Services, Inc. (NASDAQ:PESI) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $10.32 and traded as high as $14.07. Perma-Fix Environmental Services shares last traded at $13.97, with a volume of 193,151 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Perma-Fix Environmental Services in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has a consensus rating of “Sell”.

Perma-Fix Environmental Services Trading Down 1.0%

The firm has a market cap of $258.03 million, a PE ratio of -12.36 and a beta of 0.24. The firm has a fifty day simple moving average of $10.89 and a two-hundred day simple moving average of $10.32. The company has a current ratio of 2.04, a quick ratio of 1.97 and a debt-to-equity ratio of 0.03.

Perma-Fix Environmental Services (NASDAQ:PESI) last released its quarterly earnings results on Thursday, August 7th. The industrial products company reported ($0.14) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.14). Perma-Fix Environmental Services had a negative net margin of 31.25% and a negative return on equity of 21.73%. The company had revenue of $14.59 million during the quarter, compared to the consensus estimate of $16.40 million.

Hedge Funds Weigh In On Perma-Fix Environmental Services

Institutional investors and hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC purchased a new stake in Perma-Fix Environmental Services during the first quarter valued at approximately $33,000. North Star Investment Management Corp. purchased a new stake in shares of Perma-Fix Environmental Services in the 3rd quarter worth $44,000. Corebridge Financial Inc. increased its stake in shares of Perma-Fix Environmental Services by 14.7% in the 1st quarter. Corebridge Financial Inc. now owns 8,284 shares of the industrial products company’s stock worth $60,000 after purchasing an additional 1,061 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Perma-Fix Environmental Services by 18.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,849 shares of the industrial products company’s stock worth $72,000 after purchasing an additional 1,515 shares during the period. Finally, Pale Fire Capital SE purchased a new position in Perma-Fix Environmental Services during the first quarter valued at $73,000. Hedge funds and other institutional investors own 25.52% of the company’s stock.

About Perma-Fix Environmental Services

Perma-Fix Environmental Services, Inc, through its subsidiaries, operates as an environmental and technology know-how company in the United States. The company through Treatment and Services segments. The Treatment segment offers nuclear, low-level radioactive, mixed waste, hazardous and non-hazardous waste treatment, and processing and disposal services through treatment and storage facilities.