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

Key Points

• Perma-Fix Environmental Services' stock price has recently surpassed its 200-day moving average, reaching a high of $11.90 before last trading at $11.80.
• Analysts upgraded the company's rating from "sell" to "hold", indicating a cautious outlook on the stock's performance.
• The company reported earnings of ($0.14) per share for the last quarter, matching analysts' expectations but falling short on revenue, which was $14.59 million against estimates of $16.40 million.

Perma-Fix Environmental Services, Inc. (NASDAQ:PESI - Get Free Report) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $9.44 and traded as high as $11.90. Perma-Fix Environmental Services shares last traded at $11.80, with a volume of 63,039 shares traded.

Analyst Ratings Changes

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

Perma-Fix Environmental Services Trading Down 1.9%

The company's fifty day simple moving average is $11.12 and its two-hundred day simple moving average is $9.45. 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 company has a market capitalization of $209.17 million, a price-to-earnings ratio of -10.04 and a beta of 0.27.

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

Hedge Funds Weigh In On Perma-Fix Environmental Services

Large investors have recently modified their holdings of the business. GAMMA Investing LLC bought a new position in shares of Perma-Fix Environmental Services in the 1st quarter valued at about $33,000. Corebridge Financial Inc. boosted its holdings in shares of Perma-Fix Environmental Services by 14.7% during the 1st quarter. Corebridge Financial Inc. now owns 8,284 shares of the industrial products company's stock worth $60,000 after buying an additional 1,061 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Perma-Fix Environmental Services by 21.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,334 shares of the industrial products company's stock valued at $92,000 after purchasing an additional 1,479 shares during the period. Pale Fire Capital SE bought a new stake in Perma-Fix Environmental Services in the 1st quarter valued at about $73,000. Finally, Cubist Systematic Strategies LLC bought a new position in Perma-Fix Environmental Services during the 1st quarter worth $77,000. 25.52% of the stock is currently owned by institutional investors and hedge funds.

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.