Perma-Fix Environmental Services (NASDAQ:PESI) Posts Quarterly Earnings Results, Hits Expectations

Key Points

• Perma-Fix Environmental Services reported a quarterly loss of ($0.14) earnings per share, matching analysts' expectations despite revenues coming in below forecasts at $14.59 million.
• The stock price declined by 0.4% to $11.18 following the earnings announcement, with a trading volume lower than its average.
• Wall Street analysts upgraded Perma-Fix from a "sell" to a "hold" rating, indicating a more favorable outlook for the company's stock.

Perma-Fix Environmental Services (NASDAQ:PESI - Get Free Report) released its quarterly earnings data on Thursday. The industrial products company reported ($0.14) earnings per share for the quarter, meeting the consensus estimate of ($0.14), Zacks reports. The firm had revenue of $14.59 million during the quarter, compared to the consensus estimate of $16.40 million. Perma-Fix Environmental Services had a negative return on equity of 21.95% and a negative net margin of 31.25%.

Perma-Fix Environmental Services Stock Down 0.4%

PESI traded down $0.05 on Friday, hitting $11.18. The company had a trading volume of 83,423 shares, compared to its average volume of 156,767. The stock has a fifty day moving average price of $10.92 and a 200-day moving average price of $9.41. Perma-Fix Environmental Services has a 12-month low of $6.25 and a 12-month high of $16.25. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.12 and a current ratio of 2.18. The stock has a market capitalization of $206.27 million, a price-to-earnings ratio of -9.89 and a beta of 0.27.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded Perma-Fix Environmental Services from a "sell" rating to a "hold" rating in a report on Friday, June 6th.

Hedge Funds Weigh In On Perma-Fix Environmental Services

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Perma-Fix Environmental Services by 18.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,849 shares of the industrial products company's stock valued at $72,000 after purchasing an additional 1,515 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new position in Perma-Fix Environmental Services in the first quarter valued at about $77,000. Rhumbline Advisers grew its stake in Perma-Fix Environmental Services by 18.4% in the first quarter. Rhumbline Advisers now owns 17,204 shares of the industrial products company's stock valued at $125,000 after purchasing an additional 2,671 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in Perma-Fix Environmental Services by 7.3% in the second quarter. Geode Capital Management LLC now owns 421,959 shares of the industrial products company's stock valued at $4,440,000 after purchasing an additional 28,781 shares during the last quarter. Hedge funds and other institutional investors own 25.52% of the company's stock.

Perma-Fix Environmental Services Company Profile

Perma-Fix Environmental Services, Inc, through its subsidiaries, operates as an environmental and technology know-how company in the United States. The company through Treatment and Services segments. The Treatment segment offers nuclear, low-level radioactive, mixed waste, hazardous and non-hazardous waste treatment, and processing and disposal services through treatment and storage facilities.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.