Perimeter Solutions (NYSE:PRM) Shares Gap Up – Here’s Why

Perimeter Solutions, SA (NYSE:PRM) gapped up prior to trading on Friday . The stock had previously closed at $12.12, but opened at $12.47. Perimeter Solutions shares last traded at $12.38, with a volume of 367,160 shares traded.

Analyst Ratings Changes

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

Perimeter Solutions Price Performance

The stock’s fifty day moving average is $12.89 and its 200-day moving average is $10.13. The company has a quick ratio of 1.87, a current ratio of 3.91 and a debt-to-equity ratio of 0.67.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in PRM. ProShare Advisors LLC grew its holdings in Perimeter Solutions by 7.3% during the first quarter. ProShare Advisors LLC now owns 27,126 shares of the company’s stock valued at $201,000 after purchasing an additional 1,851 shares during the last quarter. CWM LLC grew its stake in Perimeter Solutions by 22.8% in the 3rd quarter. CWM LLC now owns 12,251 shares of the company’s stock valued at $165,000 after buying an additional 2,276 shares during the last quarter. Bleakley Financial Group LLC raised its holdings in Perimeter Solutions by 14.8% in the 3rd quarter. Bleakley Financial Group LLC now owns 26,602 shares of the company’s stock worth $358,000 after acquiring an additional 3,421 shares during the period. PNC Financial Services Group Inc. lifted its position in Perimeter Solutions by 2.6% during the 3rd quarter. PNC Financial Services Group Inc. now owns 139,335 shares of the company’s stock worth $1,874,000 after acquiring an additional 3,544 shares during the last quarter. Finally, Natixis Advisors LLC boosted its holdings in Perimeter Solutions by 5.9% during the third quarter. Natixis Advisors LLC now owns 64,923 shares of the company’s stock valued at $873,000 after acquiring an additional 3,595 shares during the period. 89.93% of the stock is owned by institutional investors.

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.