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

Key Points

• Perma-Fix Environmental Services shares rose above their 200-day moving average, reaching $15.82 before closing at $15.64, compared with a 200-day average of $13.75.
• Despite the technical breakout, analyst sentiment remains negative: the company has a consensus “Sell” rating, while its latest quarterly results narrowly missed earnings expectations and showed a 37.04% negative net margin.
• Institutional investors own approximately 25.52% of the company, with several funds increasing their positions during the first and second quarters.

Perma-Fix Environmental Services, Inc. (NASDAQ:PESI - Get Free Report) shares crossed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $13.75 and traded as high as $15.82. Perma-Fix Environmental Services shares last traded at $15.64, with a volume of 147,905 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Weiss Ratings reiterated a "sell (d-)" rating on shares of Perma-Fix Environmental Services in a research note on Tuesday, September 22nd. Wall Street Zen raised Perma-Fix Environmental Services from a "strong sell" rating to a "sell" rating in a research report on Saturday, September 12th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Perma-Fix Environmental Services presently has a consensus rating of "Sell".

Perma-Fix Environmental Services Trading Down 0.1%

The stock has a 50 day moving average of $17.45 and a 200-day moving average of $13.75. The company has a market capitalization of $331.88 million, a P/E ratio of -13.84 and a beta of 0.47. The company has a current ratio of 1.67, a quick ratio of 1.58 and a debt-to-equity ratio of 0.05.

Perma-Fix Environmental Services (NASDAQ:PESI - Get Free Report) last issued its quarterly earnings results on Wednesday, August 12th. The industrial products company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.31) by ($0.01). The firm had revenue of $12.89 million for the quarter, compared to analysts' expectations of $12.90 million. Perma-Fix Environmental Services had a negative net margin of 37.04% and a negative return on equity of 35.46%.

Institutional Trading of Perma-Fix Environmental Services

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Capital Advisors Ltd. LLC purchased a new stake in Perma-Fix Environmental Services during the 1st quarter valued at approximately $53,000. Corsair Capital Management L.P. boosted its holdings in shares of 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 purchasing an additional 16,000 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of Perma-Fix Environmental Services by 3.5% in the first quarter. Bank of America Corp DE now owns 45,190 shares of the industrial products company's stock worth $483,000 after purchasing an additional 1,524 shares during the last quarter. Pale Fire Capital SE boosted its stake in Perma-Fix Environmental Services by 12.5% during the first quarter. Pale Fire Capital SE now owns 48,626 shares of the industrial products company's stock valued at $520,000 after buying an additional 5,406 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new stake in Perma-Fix Environmental Services in the 2nd quarter worth approximately $544,000. Institutional investors own 25.52% of the company's stock.

About Perma-Fix Environmental Services

Perma-Fix Environmental Services, Inc is an environmental services company that specializes in the treatment, processing and disposal of nuclear and other hazardous waste. The company provides solutions for radioactive, mixed and chemically hazardous waste streams, helping customers manage materials that require specialized handling, treatment and regulatory compliance.

Its services include waste characterization, transportation coordination, treatment, stabilization, decontamination and disposal.

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