Perfect Moment (NASDAQ:PMNT) Trading Up 0.2% – Time to Buy?

Perfect Moment Ltd. (NASDAQ:PMNT)’s stock price was up 0.2% on Friday . The company traded as high as $0.45 and last traded at $0.4410. Approximately 31,187 shares were traded during trading, an increase of 8% from the average daily volume of 28,748 shares. The stock had previously closed at $0.44.

Wall Street Analysts Forecast Growth

Separately, Maxim Group began coverage on shares of Perfect Moment in a research note on Friday, October 3rd. They issued a “buy” rating and a $1.50 target price on the stock. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $1.50.

Perfect Moment Price Performance

The company has a market cap of $15.53 million, a PE ratio of -0.34 and a beta of -3.33. The business has a 50 day moving average of $0.45 and a 200 day moving average of $0.43.

Institutional Investors Weigh In On Perfect Moment

A number of large investors have recently modified their holdings of PMNT. Citadel Advisors LLC bought a new position in Perfect Moment in the third quarter worth about $56,000. Magnus Financial Group LLC boosted its position in Perfect Moment by 26.2% during the 3rd quarter. Magnus Financial Group LLC now owns 164,979 shares of the company’s stock valued at $73,000 after acquiring an additional 34,217 shares in the last quarter. Finally, US Bancorp DE grew its holdings in shares of Perfect Moment by 82.0% during the 3rd quarter. US Bancorp DE now owns 910,225 shares of the company’s stock worth $401,000 after acquiring an additional 410,225 shares during the period. Institutional investors own 23.00% of the company’s stock.

About Perfect Moment

Perfect Moment Inc (NASDAQ: PMNT) is a special purpose acquisition company (SPAC) incorporated in Delaware and based in New York City. The company was formed to raise capital through an initial public offering, with the express purpose of identifying and completing a business combination with one or more businesses in the consumer, retail, sports, wellness or related sectors. As a blank‐check vehicle, Perfect Moment holds IPO proceeds in trust while it evaluates target opportunities that align with its strategic focus on high-growth consumer platforms and service‐based enterprises.

The company completed its initial public offering in early 2021, securing gross proceeds intended to fund a merger or acquisition that would bring a private business public.