Perimeter Solutions, SA (NYSE:PRM) Short Interest Down 19.3% in September

Perimeter Solutions, SA (NYSE:PRM) saw a significant drop in short interest in September. As of September 15th, there was short interest totalling 2,210,000 shares, a drop of 19.3% from the August 31st total of 2,740,000 shares. Approximately 1.6% of the company’s stock are sold short. Based on an average daily trading volume, of 744,900 shares, the short-interest ratio is currently 3.0 days.

Perimeter Solutions Stock Performance

PRM traded up $0.11 during trading on Friday, reaching $13.24. The company’s stock had a trading volume of 827,063 shares, compared to its average volume of 601,635. Perimeter Solutions has a 52-week low of $2.79 and a 52-week high of $13.40. The company’s fifty day moving average price is $10.97 and its 200-day moving average price is $8.69. The company has a market capitalization of $1.92 billion, a price-to-earnings ratio of -57.57 and a beta of 2.00. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.87 and a current ratio of 3.61.

Perimeter Solutions (NYSE:PRM) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.11. Perimeter Solutions had a positive return on equity of 2.94% and a negative net margin of 14.12%. The company had revenue of $127.28 million for the quarter, compared to analyst estimates of $113.41 million. During the same quarter in the previous year, the company earned ($0.05) EPS. On average, equities analysts forecast that Perimeter Solutions will post 0.49 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Perimeter Solutions

A number of institutional investors have recently added to or reduced their stakes in the business. Principal Financial Group Inc. boosted its holdings in Perimeter Solutions by 0.5% in the 1st quarter. Principal Financial Group Inc. now owns 10,573,592 shares of the company’s stock valued at $78,456,000 after purchasing an additional 54,626 shares in the last quarter. Pennant Investors LP raised its position in shares of Perimeter Solutions by 43.8% during the 4th quarter. Pennant Investors LP now owns 2,300,000 shares of the company’s stock worth $10,580,000 after purchasing an additional 700,000 shares during the last quarter. Senator Investment Group LP raised its position in shares of Perimeter Solutions by 0.5% during the 2nd quarter. Senator Investment Group LP now owns 2,125,000 shares of the company’s stock worth $16,639,000 after purchasing an additional 10,700 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Perimeter Solutions by 59.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,878,518 shares of the company’s stock worth $14,708,000 after purchasing an additional 698,622 shares during the last quarter. Finally, Wellington Management Group LLP raised its position in shares of Perimeter Solutions by 6.7% during the 4th quarter. Wellington Management Group LLP now owns 1,551,489 shares of the company’s stock worth $7,137,000 after purchasing an additional 97,372 shares during the last quarter. Hedge funds and other institutional investors own 89.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Morgan Stanley lifted their target price on Perimeter Solutions from $14.00 to $18.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. UBS Group raised their price target on Perimeter Solutions from $8.75 to $11.00 and gave the stock a “neutral” rating in a report on Friday, August 16th.

About Perimeter Solutions

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.