Short Interest in Perimeter Solutions, SA (NYSE:PRM) Rises By 22.1%

Perimeter Solutions, SA (NYSE:PRM) was the target of a large increase in short interest in December. As of December 31st, there was short interest totaling 3,188,992 shares, an increase of 22.1% from the December 15th total of 2,611,965 shares. Based on an average trading volume of 840,289 shares, the days-to-cover ratio is presently 3.8 days. Currently, 2.4% of the company’s stock are short sold. Currently, 2.4% of the company’s stock are short sold. Based on an average trading volume of 840,289 shares, the days-to-cover ratio is presently 3.8 days.

Insiders Place Their Bets

In other Perimeter Solutions news, CFO Kyle Sable sold 100,000 shares of Perimeter Solutions stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $28.47, for a total transaction of $2,847,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 10.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Equitable Trust Co. lifted its position in Perimeter Solutions by 5.4% during the second quarter. Equitable Trust Co. now owns 2,253,341 shares of the company’s stock valued at $31,367,000 after purchasing an additional 116,220 shares during the last quarter. Avidian Wealth Enterprises LLC purchased a new stake in shares of Perimeter Solutions during the 2nd quarter valued at $204,000. Bleakley Financial Group LLC lifted its holdings in shares of Perimeter Solutions by 23.0% during the 2nd quarter. Bleakley Financial Group LLC now owns 29,940 shares of the company’s stock worth $417,000 after acquiring an additional 5,595 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Perimeter Solutions by 6.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 464,826 shares of the company’s stock worth $6,470,000 after acquiring an additional 26,758 shares during the last quarter. Finally, Nordea Investment Management AB grew its position in Perimeter Solutions by 3.2% in the third quarter. Nordea Investment Management AB now owns 555,662 shares of the company’s stock worth $12,102,000 after acquiring an additional 17,295 shares in the last quarter. 89.93% of the stock is currently owned by hedge funds and other institutional investors.

Perimeter Solutions Stock Performance

PRM traded down $0.69 on Monday, hitting $28.65. The company’s stock had a trading volume of 963,868 shares, compared to its average volume of 658,723. The firm has a market cap of $4.24 billion, a P/E ratio of 68.20 and a beta of 1.97. Perimeter Solutions has a 12 month low of $8.76 and a 12 month high of $29.88. The company has a quick ratio of 1.72, a current ratio of 2.22 and a debt-to-equity ratio of 0.61. The company’s 50 day simple moving average is $27.69 and its 200-day simple moving average is $22.87.

Perimeter Solutions (NYSE:PRM) last issued its quarterly earnings data on Thursday, October 30th. The company reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.14. The business had revenue of $315.44 million for the quarter, compared to analysts’ expectations of $238.27 million. Perimeter Solutions had a return on equity of 17.33% and a net margin of 12.26%. Analysts forecast that Perimeter Solutions will post 0.71 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Morgan Stanley set a $35.00 price target on Perimeter Solutions in a research report on Monday, December 15th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Perimeter Solutions in a report on Wednesday, October 8th. Zacks Research cut Perimeter Solutions from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 17th. Finally, UBS Group lowered shares of Perimeter Solutions from a “buy” rating to a “neutral” rating and raised their price target for the stock from $30.00 to $31.00 in a research note on Monday, January 12th. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Perimeter Solutions has an average rating of “Hold” and an average target price of $33.00.

Perimeter Solutions Company Profile

Perimeter Solutions Ltd. (NYSE: PRM) is a global specialty chemicals company focused on delivering performance-driven solutions for the oil and gas, coatings, plastics, water treatment and packaging markets. Established as an independent publicly traded company in December 2019 following its spin-off from NewMarket Corporation, Perimeter Solutions has positioned itself as a leading provider of highly engineered chemical products designed to optimize upstream oil recovery, protect infrastructure and enhance the performance of industrial processes.

The company’s core product portfolio spans several key segments.