Perfect Moment (NASDAQ:PMNT) Trading Up 1.5% – Should You Buy?

Perfect Moment Ltd. (NASDAQ:PMNT)’s share price was up 1.5% during trading on Thursday . The stock traded as high as $0.4780 and last traded at $0.4780. Approximately 24,438 shares traded hands during mid-day trading, a decline of 99% from the average daily volume of 2,059,578 shares. The stock had previously closed at $0.4710.

Wall Street Analyst Weigh In

Separately, Maxim Group assumed coverage on Perfect Moment in a research note on Friday, October 3rd. They issued a “buy” rating and a $1.50 price target for the company. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $1.50.

Perfect Moment Stock Performance

The stock has a market capitalization of $16.55 million, a price-to-earnings ratio of -0.36 and a beta of -3.40. The company has a fifty day simple moving average of $0.47 and a two-hundred day simple moving average of $0.44.

Institutional Trading of Perfect Moment

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Citadel Advisors LLC bought a new position in Perfect Moment in the third quarter valued at approximately $56,000. Magnus Financial Group LLC boosted its holdings in shares of Perfect Moment by 26.2% in the 3rd quarter. Magnus Financial Group LLC now owns 164,979 shares of the company’s stock valued at $73,000 after purchasing an additional 34,217 shares in the last quarter. Finally, US Bancorp DE increased its stake in shares of Perfect Moment by 82.0% in the 3rd quarter. US Bancorp DE now owns 910,225 shares of the company’s stock valued at $401,000 after purchasing an additional 410,225 shares during the last quarter. Institutional investors own 23.00% of the company’s stock.

Perfect Moment Company Profile

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.