Perma-Fix Environmental Services (NASDAQ:PESI) Stock Passes Above 200 Day Moving Average - What's Next?

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 share 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 traded.

Analysts Set New Price Targets

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

Perma-Fix Environmental Services Trading Up 1.5%

The firm has a market cap of $224.23 million, a P/E ratio of -10.70 and a beta of 0.27. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.04 and a quick ratio of 1.97. The stock has a 50 day moving average of $11.34 and a 200 day moving average of $9.55.

Perma-Fix Environmental Services (NASDAQ:PESI - Get Free Report) last released its earnings results on Thursday, August 7th. The industrial products company reported ($0.14) EPS for the quarter, meeting analysts' consensus estimates of ($0.14). Perma-Fix Environmental Services had a negative return on equity of 21.73% and a negative net margin of 31.25%.The business had revenue of $14.59 million for the quarter, compared to analysts' expectations of $16.40 million.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of PESI. Alyeska Investment Group L.P. bought a new position in shares of Perma-Fix Environmental Services during the fourth quarter valued at about $7,749,000. AWM Investment Company Inc. bought a new position in shares of Perma-Fix Environmental Services during the fourth quarter valued at about $4,428,000. Polar Asset Management Partners Inc. bought a new position in shares of Perma-Fix Environmental Services during the fourth quarter valued at about $1,937,000. Diamond Hill Capital Management Inc. grew its stake in shares of Perma-Fix Environmental Services by 32.1% during the first quarter. Diamond Hill Capital Management Inc. now owns 416,662 shares of the industrial products company's stock valued at $3,029,000 after buying an additional 101,145 shares during the last quarter. Finally, Ancora Advisors LLC grew its stake in shares of Perma-Fix Environmental Services by 92.8% during the first quarter. Ancora Advisors LLC now owns 157,845 shares of the industrial products company's stock valued at $1,148,000 after buying an additional 75,967 shares during the last quarter. 25.52% of the stock is owned by institutional investors.

About Perma-Fix Environmental Services

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.