Perma-Fix Environmental Services (NASDAQ:PESI) Shares Cross Above 200 Day Moving Average - Here's What Happened

Key Points

• Perma-Fix Environmental Services shares surged above their 200-day moving average, reaching a high of $12.49 during trading, with the last recorded price at $12.16.
• Wall Street analysts have upgraded the stock from a "sell" rating to a "hold" rating, indicating a positive outlook amidst recent trading activity.
• The company reported a quarterly earnings per share of ($0.14), meeting expectations, but fell short on revenue with $14.59 million against an anticipated $16.40 million.

Perma-Fix Environmental Services, Inc. (NASDAQ:PESI - Get Free Report)'s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $9.51 and traded as high as $12.49. Perma-Fix Environmental Services shares last traded at $12.16, with a volume of 147,550 shares changing hands.

Wall Street Analyst Weigh In

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

Perma-Fix Environmental Services Trading Up 4.2%

The company has a quick ratio of 1.97, a current ratio of 2.04 and a debt-to-equity ratio of 0.03. The firm has a market cap of $224.60 million, a P/E ratio of -10.76 and a beta of 0.27. The company's 50 day simple moving average is $11.23 and its 200-day simple moving average is $9.51.

Perma-Fix Environmental Services (NASDAQ:PESI - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The industrial products company reported ($0.14) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.14). The business 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 net margin of 31.25% and a negative return on equity of 21.73%.

Institutional Trading of Perma-Fix Environmental Services

Institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC bought a new stake in Perma-Fix Environmental Services in the first quarter worth about $33,000. Corebridge Financial Inc. lifted its stake in Perma-Fix Environmental Services by 14.7% in the first quarter. Corebridge Financial Inc. now owns 8,284 shares of the industrial products company's stock worth $60,000 after purchasing an additional 1,061 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted 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 worth $72,000 after purchasing an additional 1,515 shares during the last quarter. Pale Fire Capital SE bought a new stake in Perma-Fix Environmental Services in the first quarter worth about $73,000. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of Perma-Fix Environmental Services during the first quarter valued at approximately $77,000. 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.

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