Perma-Fix Environmental Services (NASDAQ:PESI) Issues Earnings Results

Key Points

• Perma-Fix Environmental Services missed quarterly earnings expectations: EPS was $(0.32), versus the consensus estimate of $(0.31), while revenue of $12.89 million was essentially in line with expectations.
• The stock surged during Wednesday trading, rising $1.98 to $19.43 on volume far above average. Shares remained below the 12-month high of $21.32.
• Analyst sentiment remains negative: the stock carries an average “Sell” rating, while institutional investors own 25.52% of the company.

Perma-Fix Environmental Services (NASDAQ:PESI - Get Free Report) released its earnings results on Wednesday. The industrial products company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.31) by ($0.01), Zacks reports. Perma-Fix Environmental Services had a negative return on equity of 28.55% and a negative net margin of 30.06%.The company had revenue of $12.89 million during the quarter, compared to the consensus estimate of $12.90 million.

Perma-Fix Environmental Services Stock Performance

Shares of NASDAQ PESI traded up $1.98 during trading on Wednesday, hitting $19.43. The company had a trading volume of 1,889,582 shares, compared to its average volume of 267,016. The stock has a 50 day simple moving average of $13.89 and a 200 day simple moving average of $12.99. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.17 and a current ratio of 1.25. Perma-Fix Environmental Services has a 12 month low of $8.02 and a 12 month high of $21.32. The firm has a market capitalization of $411.92 million, a P/E ratio of -20.24 and a beta of 0.46.

Hedge Funds Weigh In On Perma-Fix Environmental Services

A number of hedge funds have recently modified their holdings of the company. Mak Capital One LLC raised its stake in Perma-Fix Environmental Services by 12.6% during the 4th quarter. Mak Capital One LLC now owns 918,673 shares of the industrial products company's stock valued at $11,566,000 after purchasing an additional 103,097 shares during the period. Jane Street Group LLC grew its holdings in Perma-Fix Environmental Services by 147.8% during the 4th quarter. Jane Street Group LLC now owns 144,239 shares of the industrial products company's stock valued at $1,816,000 after buying an additional 86,038 shares in the last quarter. Informed Momentum Co LLC bought a new stake in shares of Perma-Fix Environmental Services during the fourth quarter valued at approximately $816,000. Van ECK Associates Corp lifted its holdings in shares of Perma-Fix Environmental Services by 27.5% in the third quarter. Van ECK Associates Corp now owns 220,289 shares of the industrial products company's stock worth $2,225,000 after buying an additional 47,492 shares in the last quarter. Finally, Bank of America Corp DE boosted its position in shares of Perma-Fix Environmental Services by 431.9% during the third quarter. Bank of America Corp DE now owns 47,739 shares of the industrial products company's stock worth $482,000 after acquiring an additional 38,764 shares during the last quarter. 25.52% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on PESI. Weiss Ratings upgraded shares of Perma-Fix Environmental Services from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Thursday, June 25th. Wall Street Zen cut shares of Perma-Fix Environmental Services from a "sell" rating to a "strong sell" rating in a report on Sunday, May 17th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has an average rating of "Sell".

About Perma-Fix Environmental Services

Perma-Fix Environmental Services, Inc NASDAQ: PESI is a specialized provider of environmental and nuclear waste management solutions. The company offers a comprehensive suite of services, including treatment, recycling, processing, volume reduction and disposal of hazardous, radioactive and mixed wastes. Its capabilities span thermal, chemical and physical treatment technologies, supported by a network of licensed facilities designed to handle complex waste streams.

Founded in 1994 and headquartered in Atlanta, Georgia, Perma-Fix has grown both organically and through strategic acquisitions.

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