Perimeter Solutions, SA (NYSE:PRM) Sees Large Increase in Short Interest

Perimeter Solutions, SA (NYSE:PRM) saw a large growth in short interest in February. As of February 28th, there was short interest totalling 3,320,000 shares, a growth of 17.7% from the February 13th total of 2,820,000 shares. Based on an average trading volume of 1,150,000 shares, the days-to-cover ratio is currently 2.9 days. Approximately 2.4% of the company’s stock are short sold.

Perimeter Solutions Stock Performance

PRM stock traded up $0.38 during trading hours on Wednesday, hitting $9.40. 412,547 shares of the stock were exchanged, compared to its average volume of 827,785. The firm has a market capitalization of $1.41 billion, a P/E ratio of -66.64 and a beta of 1.93. The company has a current ratio of 3.91, a quick ratio of 2.95 and a debt-to-equity ratio of 0.67. The company has a 50-day simple moving average of $11.49 and a two-hundred day simple moving average of $12.34. Perimeter Solutions has a 12 month low of $6.03 and a 12 month high of $14.44.

Perimeter Solutions (NYSE:PRM) last announced its earnings results on Thursday, February 20th. The company reported $0.11 EPS for the quarter, beating the consensus estimate of ($0.10) by $0.21. The business had revenue of $86.23 million for the quarter, compared to analysts’ expectations of $77.01 million. Perimeter Solutions had a negative return on equity of 7.62% and a negative net margin of 1.05%. On average, analysts forecast that Perimeter Solutions will post 0.71 earnings per share for the current fiscal year.

Insider Transactions at Perimeter Solutions

In related news, Director Vivek Raj sold 250,000 shares of the business’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of $9.17, for a total transaction of $2,292,500.00. Following the transaction, the director now directly owns 471,226 shares in the company, valued at approximately $4,321,142.42. The trade was a 34.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 8.70% of the company’s stock.

Hedge Funds Weigh In On Perimeter Solutions

Institutional investors and hedge funds have recently made changes to their positions in the stock. Comerica Bank purchased a new position in Perimeter Solutions during the 4th quarter worth $38,000. Quarry LP purchased a new position in shares of Perimeter Solutions during the 3rd quarter valued at $52,000. McAdam LLC purchased a new stake in Perimeter Solutions in the 4th quarter worth about $131,000. Tower Research Capital LLC TRC raised its stake in Perimeter Solutions by 90.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 10,665 shares of the company’s stock valued at $136,000 after acquiring an additional 5,054 shares during the period. Finally, Quantinno Capital Management LP bought a new position in Perimeter Solutions during the fourth quarter worth about $136,000. Institutional investors own 89.93% of the company’s stock.

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.