Perion Network Ltd. (NASDAQ:PERI) Short Interest Update

Perion Network Ltd. (NASDAQ:PERI - Get Free Report) saw a significant decrease in short interest in May. As of May 15th, there was short interest totalling 742,100 shares, a decrease of 31.9% from the April 30th total of 1,090,000 shares. Based on an average daily trading volume, of 538,000 shares, the days-to-cover ratio is currently 1.4 days. Currently, 1.7% of the company's shares are sold short.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in PERI. Perkins Capital Management Inc. raised its holdings in Perion Network by 4.2% during the 4th quarter. Perkins Capital Management Inc. now owns 55,450 shares of the technology company's stock worth $470,000 after purchasing an additional 2,240 shares during the last quarter. Two Sigma Advisers LP raised its holdings in Perion Network by 2.2% during the 4th quarter. Two Sigma Advisers LP now owns 116,600 shares of the technology company's stock worth $988,000 after purchasing an additional 2,500 shares during the last quarter. Orion Portfolio Solutions LLC raised its holdings in Perion Network by 8.5% during the 4th quarter. Orion Portfolio Solutions LLC now owns 34,707 shares of the technology company's stock worth $294,000 after purchasing an additional 2,711 shares during the last quarter. Russell Investments Group Ltd. bought a new stake in Perion Network during the 4th quarter worth about $41,000. Finally, SBI Securities Co. Ltd. bought a new stake in Perion Network during the 4th quarter worth about $45,000. 68.12% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on PERI. Lake Street Capital upped their price objective on shares of Perion Network from $10.50 to $13.00 and gave the company a "buy" rating in a research note on Wednesday, May 14th. Roth Mkm upgraded Perion Network from a "neutral" rating to a "buy" rating and upped their target price for the company from $9.00 to $14.00 in a report on Wednesday, May 14th. Wall Street Zen upgraded Perion Network from a "sell" rating to a "hold" rating in a report on Wednesday, May 21st. Roth Capital set a $14.00 target price on Perion Network in a report on Wednesday, May 14th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Perion Network in a report on Wednesday, May 14th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $12.13.

Perion Network Trading Down 3.5%

NASDAQ:PERI traded down $0.37 during mid-day trading on Thursday, hitting $10.34. The company's stock had a trading volume of 171,118 shares, compared to its average volume of 474,603. Perion Network has a fifty-two week low of $6.99 and a fifty-two week high of $12.51. The company has a market capitalization of $463.49 million, a price-to-earnings ratio of 39.81, a P/E/G ratio of 0.76 and a beta of 1.47. The stock has a fifty day moving average of $9.34 and a 200-day moving average of $8.92.

Perion Network Company Profile

Perion Network Ltd. provides digital advertising solutions to brands, agencies, and publishers in North America, Europe, and internationally. It offers Wildfire, a content monetization platform; search monetization solutions, including website monetization, search mediation, and app monetization; and cross-channel digital advertising software as a service platform.