Perma-Fix Environmental Services (NASDAQ:PESI) Stock Passes Above Two Hundred Day Moving Average – Here’s Why

Perma-Fix Environmental Services, Inc. (NASDAQ:PESI)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $13.46 and traded as high as $18.76. Perma-Fix Environmental Services shares last traded at $18.25, with a volume of 161,656 shares traded.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on PESI. Wall Street Zen raised shares of Perma-Fix Environmental Services from a “strong sell” rating to a “sell” rating in a research report on Saturday. Weiss Ratings raised shares of Perma-Fix Environmental Services from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, June 25th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Sell”.

Perma-Fix Environmental Services Price Performance

The company has a quick ratio of 1.58, a current ratio of 1.67 and a debt-to-equity ratio of 0.05. The business has a 50-day moving average price of $16.98 and a two-hundred day moving average price of $13.50. The company has a market capitalization of $398.30 million, a price-to-earnings ratio of -16.61 and a beta of 0.47.

Perma-Fix Environmental Services (NASDAQ:PESI) last posted its quarterly earnings results on Wednesday, August 12th. The industrial products company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.31) by ($0.01). The business had revenue of $12.89 million during the quarter, compared to analyst estimates 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 Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Diamond Hill Capital Management LLC Investment Advisor purchased a new position in Perma-Fix Environmental Services during the 2nd quarter worth $9,182,000. North Star Investment Management Corp. boosted its holdings in Perma-Fix Environmental Services by 2,639.4% during the first quarter. North Star Investment Management Corp. now owns 120,532 shares of the industrial products company’s stock worth $1,288,000 after purchasing an additional 116,132 shares during the last quarter. MYDA Advisors LLC grew its position in Perma-Fix Environmental Services by 100.0% in the 4th quarter. MYDA Advisors LLC now owns 100,000 shares of the industrial products company’s stock worth $1,259,000 after purchasing an additional 50,000 shares in the last quarter. Potomac Capital Management Inc. bought a new position in shares of Perma-Fix Environmental Services during the 4th quarter worth approximately $4,303,000. Finally, Rothschild Wealth LLC purchased a new position in shares of Perma-Fix Environmental Services in the 4th quarter worth approximately $2,094,000. Hedge funds and other institutional investors own 25.52% of the company’s stock.

Perma-Fix Environmental Services Company Profile

Perma-Fix Environmental Services, Inc (NASDAQ: PESI) is a specialized provider of environmental and nuclear waste management solutions. The company offers a comprehensive suite of services, including treatment, recycling, processing, volume reduction and disposal of hazardous, radioactive and mixed wastes. Its capabilities span thermal, chemical and physical treatment technologies, supported by a network of licensed facilities designed to handle complex waste streams.

Founded in 1994 and headquartered in Atlanta, Georgia, Perma-Fix has grown both organically and through strategic acquisitions.