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

Key Points

• Perma-Fix Environmental Services shares briefly moved above their 200-day moving average of $13.93, reaching $14.22 before closing at $13.30 on 230,513 shares of volume.
• Analyst sentiment remains negative overall: ratings include “hold,” “sell,” and “strong sell,” producing an average MarketBeat rating of “Reduce.”
• The company reported a quarterly loss of $0.32 per share, slightly worse than expectations, alongside a negative net margin of 37.04%; institutional investors own 25.52% of the stock.

Perma-Fix Environmental Services, Inc. (NASDAQ:PESI - Get Free Report)'s stock price passed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $13.93 and traded as high as $14.22. Perma-Fix Environmental Services shares last traded at $13.30, with a volume of 230,513 shares.

Analyst Ratings Changes

Several research firms have commented on PESI. Weiss Ratings restated a "sell (d-)" rating on shares of Perma-Fix Environmental Services in a report on Tuesday, September 22nd. Zacks Research upgraded Perma-Fix Environmental Services to a "hold" rating in a report on Friday, October 2nd. Finally, Wall Street Zen cut Perma-Fix Environmental Services from a "sell" rating to a "strong sell" rating in a report on Saturday, October 3rd. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Reduce".

Perma-Fix Environmental Services Trading Down 3.3%

The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.58 and a current ratio of 1.67. The company's fifty day simple moving average is $17.15 and its 200-day simple moving average is $13.93. The company has a market capitalization of $282.23 million, a P/E ratio of -11.77 and a beta of 0.56.

Perma-Fix Environmental Services (NASDAQ:PESI - Get Free Report) last posted its earnings results on Wednesday, August 12th. The industrial products company reported ($0.32) EPS for the quarter, missing analysts' consensus estimates of ($0.31) by ($0.01). Perma-Fix Environmental Services had a negative net margin of 37.04% and a negative return on equity of 35.46%. The business had revenue of $12.89 million for the quarter, compared to analysts' expectations of $12.90 million. Research analysts predict that Perma-Fix Environmental Services, Inc. will post -1.02 earnings per share for the current year.

Hedge Funds Weigh In On Perma-Fix Environmental Services

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Pale Fire Capital SE increased its holdings in Perma-Fix Environmental Services by 14.4% during the second quarter. Pale Fire Capital SE now owns 55,627 shares of the industrial products company's stock valued at $795,000 after buying an additional 7,001 shares during the period. Diamond Hill Capital Management LLC Investment Advisor purchased a new stake in Perma-Fix Environmental Services during the second quarter worth $9,182,000. Bank of New York Mellon Corp purchased a new stake in Perma-Fix Environmental Services during the second quarter worth $544,000. Bank of America Corp DE lifted its holdings in Perma-Fix Environmental Services by 3.5% during the first quarter. Bank of America Corp DE now owns 45,190 shares of the industrial products company's stock worth $483,000 after buying an additional 1,524 shares during the period. Finally, Corsair Capital Management L.P. boosted its position in Perma-Fix Environmental Services by 73.9% during the 1st quarter. Corsair Capital Management L.P. now owns 37,649 shares of the industrial products company's stock valued at $402,000 after acquiring an additional 16,000 shares in the last quarter. 25.52% of the stock is currently owned by institutional investors.

Perma-Fix Environmental Services Company Profile

Perma-Fix Environmental Services, Inc NASDAQ: PESI provides nuclear and industrial waste management services. The company treats and processes radioactive, mixed, hazardous, and other difficult-to-manage waste streams for government and commercial customers, with an emphasis on reducing waste volume and preparing materials for compliant disposal.

Its services include waste treatment, stabilization, remediation, waste characterization, decontamination, engineering, consulting, and project management.

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