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Mark Duff, President and CEO of Perma-Fix Environmental Services Inc. (NASDAQ:PESI), recently acquired a total of 2,050 shares of the company’s common stock, according to a recent SEC filing. The transactions, which took place on March 21, involved purchases at prices ranging from $7.02 to $7.05 per share, amounting to a total investment of $14,417. The purchase comes as the stock trades near its 52-week low of $6.91, having declined 40% over the past six months. According to InvestingPro data, analysts maintain a Strong Buy rating with an $18 price target.
Following these transactions, Duff’s direct ownership in the company increased to 133,659 shares. This move reflects Duff’s continued confidence in the hazardous waste management company, which is headquartered in Atlanta, Georgia. With a current market capitalization of $130.48 million, PESI maintains strong liquidity with a current ratio of 2.29, and technical indicators suggest the stock is currently oversold. Discover more insights and 12 additional ProTips for PESI with InvestingPro.
In other recent news, Perma-Fix Environmental Services, Inc. reported fourth-quarter earnings that did not meet analyst expectations. The company posted a loss of $0.22 per share, compared to the anticipated loss of $0.11 per share. Revenue for the quarter was $14.7 million, falling short of the consensus forecast of $17.7 million and a significant drop from $22.7 million in the same quarter the previous year. This revenue decline was attributed to the completion of two large projects at the end of 2023 and lower waste volumes in its Treatment Segment. Gross profit also decreased to $594,000 from $4.3 million a year earlier. Despite these results, Perma-Fix expressed optimism for 2025, citing expected growth and profitability, particularly in the second half of the year. The company also noted progress with its PFAS destruction technology and recent nuclear services contract wins as positive developments. For the full year 2024, Perma-Fix reported a net loss of $20 million on revenue of $59.1 million, compared to a net income of $485,000 on revenue of $89.7 million in 2023.
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