Perimeter Solutions (NYSE:PRM) Trading Down 12.5% – Here’s Why

Perimeter Solutions, SA (NYSE:PRM)’s share price was down 12.5% on Tuesday . The stock traded as low as $11.80 and last traded at $12.32. Approximately 363,975 shares changed hands during trading, a decline of 50% from the average daily volume of 729,201 shares. The stock had previously closed at $14.08.

Analyst Upgrades and Downgrades

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

Perimeter Solutions Trading Down 1.1 %

The company’s 50-day moving average is $12.87 and its 200-day moving average is $10.12. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.87 and a current ratio of 3.61. The firm has a market cap of $1.76 billion, a price-to-earnings ratio of -10.71 and a beta of 2.02.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP boosted its stake in shares of Perimeter Solutions by 59.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,878,518 shares of the company’s stock valued at $14,708,000 after purchasing an additional 698,622 shares during the last quarter. FMR LLC grew its holdings in Perimeter Solutions by 2,993.1% during the 3rd quarter. FMR LLC now owns 307,426 shares of the company’s stock worth $4,135,000 after acquiring an additional 297,487 shares during the period. Maverick Capital Ltd. raised its position in shares of Perimeter Solutions by 239.3% during the 2nd quarter. Maverick Capital Ltd. now owns 227,477 shares of the company’s stock valued at $1,781,000 after acquiring an additional 160,432 shares during the last quarter. Senator Investment Group LP raised its position in shares of Perimeter Solutions by 5.7% during the 1st quarter. Senator Investment Group LP now owns 2,114,300 shares of the company’s stock valued at $15,688,000 after acquiring an additional 114,300 shares during the last quarter. Finally, GSA Capital Partners LLP acquired a new position in shares of Perimeter Solutions in the 3rd quarter valued at $945,000. 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.