Perion Network Ltd (NASDAQ:PERI - Get Free Report) was the target of a large growth in short interest in August. As of August 31st, there was short interest totaling 707,900 shares, a growth of 35.0% from the August 15th total of 524,500 shares. Approximately 1.6% of the shares of the stock are sold short. Based on an average daily trading volume, of 320,000 shares, the days-to-cover ratio is presently 2.2 days. Based on an average daily trading volume, of 320,000 shares, the days-to-cover ratio is presently 2.2 days. Approximately 1.6% of the shares of the stock are sold short.
Wall Street Analysts Forecast Growth
A number of research analysts have weighed in on the company. Wall Street Zen raised Perion Network from a "hold" rating to a "buy" rating in a report on Saturday, August 16th. Lake Street Capital boosted their price objective on Perion Network from $13.00 to $14.00 and gave the stock a "buy" rating in a report on Tuesday, July 1st. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Perion Network has a consensus rating of "Moderate Buy" and an average price target of $12.38.
View Our Latest Research Report on Perion Network
Institutional Investors Weigh In On Perion Network
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Osaic Holdings Inc. grew its stake in shares of Perion Network by 209.9% in the second quarter. Osaic Holdings Inc. now owns 2,721 shares of the technology company's stock worth $28,000 after acquiring an additional 1,843 shares during the last quarter. State of Wyoming grew its stake in shares of Perion Network by 11.0% in the second quarter. State of Wyoming now owns 22,147 shares of the technology company's stock worth $225,000 after acquiring an additional 2,196 shares during the last quarter. BNP Paribas Financial Markets grew its stake in shares of Perion Network by 582.3% in the second quarter. BNP Paribas Financial Markets now owns 64,644 shares of the technology company's stock worth $656,000 after acquiring an additional 55,170 shares during the last quarter. Balyasny Asset Management L.P. grew its stake in shares of Perion Network by 20.0% in the second quarter. Balyasny Asset Management L.P. now owns 42,115 shares of the technology company's stock worth $427,000 after acquiring an additional 7,028 shares during the last quarter. Finally, Jump Financial LLC grew its stake in shares of Perion Network by 38.8% in the second quarter. Jump Financial LLC now owns 81,498 shares of the technology company's stock worth $827,000 after acquiring an additional 22,789 shares during the last quarter. 68.12% of the stock is owned by hedge funds and other institutional investors.
Perion Network Price Performance
PERI stock traded up $0.03 during midday trading on Friday, hitting $9.83. The stock had a trading volume of 167,836 shares, compared to its average volume of 260,027. The firm has a market cap of $440.63 million, a price-to-earnings ratio of -81.92, a price-to-earnings-growth ratio of 0.87 and a beta of 1.46. The business has a 50-day moving average of $9.90 and a two-hundred day moving average of $9.58. Perion Network has a 52-week low of $6.99 and a 52-week high of $11.79.
About Perion Network
(
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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.
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