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ATLANTA—Louis F. Centofanti, Executive Vice President of Strategic Initiatives at Perma-Fix Environmental Services Inc. (NASDAQ:PESI), recently purchased 1,000 shares of the company’s common stock. The transaction, valued at approximately $7,310, took place on March 17 at a price of $7.31 per share. The purchase comes as the stock trades near its 52-week low, having declined about 35% over the past six months. According to InvestingPro data, analysts maintain an $18 price target for the stock, which currently trades at $7.28.
Following this acquisition, Centofanti directly owns 218,765 shares of Perma-Fix stock. Additionally, indirect holdings, attributed to his spouse, total 62,800 shares. The transaction reflects Centofanti’s ongoing investment in the hazardous waste management company, headquartered in Atlanta, Georgia. InvestingPro analysis shows the company maintains a strong liquidity position with more cash than debt on its balance sheet. Discover more insights about PESI and 1,400+ other stocks through comprehensive Pro Research Reports on 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, missing the analyst estimate of a $0.11 per share loss. Revenue for the quarter was $14.7 million, falling short of the consensus forecast of $17.7 million and down from $22.7 million in the same period last year. The decline in revenue was attributed to the completion of two large projects at the end of 2023 that were not replaced with projects of similar value, as well as lower waste volumes in its Treatment Segment. Gross profit also saw a decline, dropping to $594,000 from $4.3 million a year earlier. Despite these results, the company expressed optimism for 2025, citing significant opportunities and progress in various projects. Perma-Fix highlighted anticipated growth and profitability in 2025, with expectations of a particularly strong second half as the U.S. Department of Energy’s Direct-Feed Low-Activity Waste program ramps up. The company also noted advancements in its PFAS destruction technology and recent contract wins in nuclear services 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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