Perma-Fix Environmental Services (NASDAQ:PESI) Share Price Passes Above 200-Day Moving Average - Here's Why

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 two hundred day moving average during trading on Thursday . The stock has a two hundred 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.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded 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 1.4%

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 $214.81 million, a P/E ratio of -10.29 and a beta of 0.27. The company's 50 day simple moving average is $11.09 and its 200-day simple moving average is $9.45.

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

Several institutional investors have recently added to or reduced their stakes in the company. Prescott Group Capital Management L.L.C. lifted its stake in Perma-Fix Environmental Services by 4.0% in the first quarter. Prescott Group Capital Management L.L.C. now owns 777,142 shares of the industrial products company's stock worth $5,650,000 after purchasing an additional 30,200 shares during the last quarter. Alyeska Investment Group L.P. purchased a new stake in shares of Perma-Fix Environmental Services in the fourth quarter valued at approximately $7,749,000. Heartland Advisors Inc. boosted its holdings in shares of Perma-Fix Environmental Services by 13.9% in the first quarter. Heartland Advisors Inc. now owns 455,400 shares of the industrial products company's stock valued at $3,311,000 after purchasing an additional 55,400 shares during the period. Geode Capital Management LLC boosted its holdings in shares of 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 period. Finally, Diamond Hill Capital Management Inc. boosted its holdings in shares of Perma-Fix Environmental Services by 32.1% in 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 purchasing an additional 101,145 shares during the period. Institutional investors own 25.52% of the company's stock.

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.