Perion Network Ltd (NASDAQ:PERI) Short Interest Down 41.3% in July

Key Points

• Short interest in Perion Network Ltd (NASDAQ:PERI) declined significantly by 41.3% in July, from 605,500 shares to 355,200 shares.
• A number of institutional investors have recently increased their stakes or acquired new positions in Perion Network, bringing institutional ownership to 68.12%.
• Wall Street analysts are optimistic about the company, with a consensus rating of "Moderate Buy" and an average price target of $12.38, reflecting potential growth.

Perion Network Ltd (NASDAQ:PERI - Get Free Report) was the recipient of a large drop in short interest in July. As of July 31st, there was short interest totaling 355,200 shares, adropof41.3% from the July 15th total of 605,500 shares. Based on an average daily volume of 410,800 shares, the short-interest ratio is currently 0.9 days. Approximately0.8% of the shares of the stock are short sold. Approximately0.8% of the shares of the stock are short sold. Based on an average daily volume of 410,800 shares, the short-interest ratio is currently 0.9 days.

Institutional Trading of Perion Network

A number of institutional investors have recently modified their holdings of PERI. Value Base Ltd. acquired a new stake in Perion Network in the first quarter valued at $18,799,000. Phoenix Financial Ltd. increased its position in Perion Network by 2.5% during the first quarter. Phoenix Financial Ltd. now owns 2,279,380 shares of the technology company's stock worth $18,554,000 after buying an additional 54,909 shares during the last quarter. Sphera Management Technology Funds Ltd acquired a new position in Perion Network during the fourth quarter worth approximately $995,000. Systematic Financial Management LP increased its position in Perion Network by 38.3% during the fourth quarter. Systematic Financial Management LP now owns 648,085 shares of the technology company's stock worth $5,489,000 after buying an additional 179,557 shares during the last quarter. Finally, GHP Investment Advisors Inc. increased its position in Perion Network by 98.3% during the first quarter. GHP Investment Advisors Inc. now owns 68,107 shares of the technology company's stock worth $554,000 after buying an additional 33,765 shares during the last quarter. 68.12% of the stock is currently owned by institutional investors.

Perion Network Trading Up 4.2%

PERI stock opened at $9.15 on Monday. The firm has a market cap of $410.19 million, a PE ratio of -76.25, a P/E/G ratio of 0.89 and a beta of 1.43. The business's 50-day moving average price is $10.38 and its two-hundred day moving average price is $9.54. Perion Network has a 1-year low of $6.99 and a 1-year high of $11.79.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on PERI shares. Wall Street Zen upgraded Perion Network from a "hold" rating to a "buy" rating in a research report on Saturday. Needham & Company LLC restated a "hold" rating on shares of Perion Network in a research report on Wednesday, May 14th. Roth Mkm upgraded Perion Network from a "neutral" rating to a "buy" rating and raised their price target for the stock from $9.00 to $14.00 in a research report on Wednesday, May 14th. Roth Capital set a $14.00 price target on Perion Network in a research report on Wednesday, May 14th. Finally, Lake Street Capital raised their price target on Perion Network from $13.00 to $14.00 and gave the stock a "buy" rating in a research report on Tuesday, July 1st. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $12.38.

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.

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