Perimeter Solutions ( (PRM) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.
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Perimeter Solutions shares came under pressure after UBS cut its rating on the stock to neutral, cooling investor sentiment despite solid top-line growth. The downgrade overshadowed otherwise positive operational news.
The company posted fourth-quarter revenue of $102.8 million, up from $86.2 million a year earlier. It also closed the acquisition of Medical Manufacturing Technologies, financed it with new notes, secured a fresh credit facility, and resolved an outstanding lawsuit.
More about Perimeter Solutions
YTD Price Performance: -4.21%
Average Trading Volume: 852,798
Technical Sentiment Signal: Buy
Current Market Cap: $3.9B
For further insights into PRM stock on TipRanks’ Stock Analysis page.
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