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

Perimeter Solutions, SA (NYSE:PRM) saw a significant increase in short interest in the month of 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. Approximately 2.4% of the company’s shares are sold short. Based on an average daily volume of 840,289 shares, the days-to-cover ratio is presently 3.8 days. Based on an average daily volume of 840,289 shares, the days-to-cover ratio is presently 3.8 days. Approximately 2.4% of the company’s shares are sold short.

Insider Buying and Selling

In related news, CFO Kyle Sable sold 100,000 shares of the firm’s 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 10.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Perimeter Solutions

Large investors have recently bought and sold shares of the company. Principal Financial Group Inc. boosted its holdings in Perimeter Solutions by 0.5% during the third quarter. Principal Financial Group Inc. now owns 11,012,789 shares of the company’s stock worth $246,577,000 after buying an additional 57,244 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Perimeter Solutions by 4.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 5,145,141 shares of the company’s stock valued at $115,188,000 after acquiring an additional 221,290 shares during the period. Geode Capital Management LLC boosted its stake in shares of Perimeter Solutions by 3.1% during the 2nd quarter. Geode Capital Management LLC now owns 3,292,279 shares of the company’s stock worth $45,834,000 after acquiring an additional 98,953 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of Perimeter Solutions by 35.8% during the 2nd quarter. Bank of America Corp DE now owns 2,274,018 shares of the company’s stock worth $31,654,000 after acquiring an additional 599,972 shares in the last quarter. Finally, Equitable Trust Co. increased its stake in Perimeter Solutions by 5.4% in the 2nd 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 in the last quarter. Hedge funds and other institutional investors own 89.93% of the company’s stock.

Wall Street Analyst Weigh In

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

Perimeter Solutions Stock Down 1.1%

Shares of NYSE PRM opened at $28.30 on Wednesday. The business has a 50-day moving average price of $27.74 and a 200 day moving average price of $22.96. The stock has a market cap of $4.19 billion, a PE ratio of 67.37 and a beta of 1.97. The company has a quick ratio of 1.72, a current ratio of 2.22 and a debt-to-equity ratio of 0.61. Perimeter Solutions has a 52-week low of $8.76 and a 52-week high of $29.88.

Perimeter Solutions (NYSE:PRM) last announced its earnings results on Thursday, October 30th. The company reported $0.82 EPS for the quarter, beating 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 net margin of 12.26% and a return on equity of 17.33%. Equities research analysts forecast that Perimeter Solutions will post 0.71 earnings per share for the current year.

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.