The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Perimeter Solutions SA shares valued at $13,840,000 were purchased by WindAcre Partnership Master Fu on May 09. At $8.65 per share, WindAcre Partnership Master Fu acquired 1,600,000 shares. The insider’s holdings grew to 21,600,000 shares worth approximately $186.19 million following the completion of this transaction.
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As published in their initiating research note from Morgan Stanley on June 09, 2022, Perimeter Solutions SA [PRM] has been an Overweight and the price target has been revised to $14. This represents a 38.43% premium over Wednesday’s closing price. Analysts at UBS started covering the stock with ‘”a Buy”‘ outlook in a report released in mid April.
Analyzing PRM’s Price Performance
On Wednesday, Perimeter Solutions SA [NYSE: PRM] plunged -4.12% to $8.62. The stock’s lowest price that day was $8.62, but it reached a high of $9.15 in the same session. During the last five days, there has been a drop of approximately -13.97%. Over the course of the year, Perimeter Solutions SA shares have dropped approximately -37.94%. A 50-day SMA is recorded $10.59, while a 200-day SMA reached $11.42. Nevertheless, trading volume fell to 1.8 million shares from 2.44 million shares the previous day.
Support And Resistance Levels for Perimeter Solutions SA (PRM)
According to the 24-hour chart, there is a support level at 8.44, which, if violated, would cause prices to drop to 8.27. In the upper region, resistance lies at 8.97. The next price resistance is at 9.33. RSI (Relative Strength Index) is 31.76 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.70, which suggests the price will decrease in the coming days. Percent R is at 100.00%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Perimeter Solutions SA subject to short interest?
Stocks of Perimeter Solutions SA saw a sharp rise in short interest on Jul 14, 2022 jumping by 2.67 million shares to 4.77 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 2.1 million shares. A jump of 55.97% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 3.35 of the overall float, the days-to-cover ratio (short ratio) jumped to 3.35.
Which companies own the most shares of Perimeter Solutions SA (PRM)?
According to The WindAcre Partnership LLC filings, the company currently owns 21,600,000 shares, which is about 13.28% of the total PRM shares outstanding. The investor’s shares have appreciated by 1,600,000 from its previous 13-F filing of 20000000.0 shares. With the completion of the sale transaction, Select Equity Group LP’s stake is now worth $133,050,431. Capital Research & Management Co acquire a 25.04% interest valued at $112.89 million while Principal Global Investors LLC sold a -12,289 stake. A total of -2,136,774 shares of Perimeter Solutions SA were sold by Tiger Eye Capital LLC during the quarter, and 0 by Meritage Group LP. In its current portfolio, Matrix Capital Management Co. LP holds 7,462,500 shares valued at $72.76 million.
In terms of Perimeter Solutions SA share price expectations, FactSet research, analysts set an average price target of $14.25 in the next 12 months, up nearly 58.51% from the previous closing price of $8.99. Analysts anticipate Perimeter Solutions SA stock to reach $14.50 by 2022, with the lowest price target being $14.00. In spite of this, 2 analysts ranked Perimeter Solutions SA stock as a Buy at the end of 2022.