Perion Network Ltd (NASDAQ:PERI) Short Interest Update

Key Points

• Short interest in Perion Network Ltd increased by 47.7% in August, totaling 524,500 shares, with a days-to-cover ratio of 1.7 days based on average trading volume.
• Recent analyst reports have upgraded Perion's rating from "neutral" to "buy," with several institutions raising their price targets to around $14.00.
• Institutional investors hold approximately 68.12% of Perion's stock, indicating strong institutional interest in the company.

Perion Network Ltd (NASDAQ:PERI - Get Free Report) was the recipient of a large increase in short interest during the month of August. As of August 15th, there was short interest totaling 524,500 shares, anincreaseof47.7% from the July 31st total of 355,200 shares. Based on an average trading volume of 311,800 shares, the days-to-cover ratio is presently 1.7 days. Based on an average trading volume of 311,800 shares, the days-to-cover ratio is presently 1.7 days.

Perion Network Trading Up 0.3%

Shares of NASDAQ PERI traded up $0.03 during mid-day trading on Friday, reaching $9.16. The company had a trading volume of 172,345 shares, compared to its average volume of 396,682. Perion Network has a 52-week low of $6.99 and a 52-week high of $11.79. The stock has a market cap of $410.64 million, a P/E ratio of -76.33, a PEG ratio of 0.81 and a beta of 1.46. The firm has a 50 day simple moving average of $10.20 and a two-hundred day simple moving average of $9.51.

Analysts Set New Price Targets

PERI has been the subject of several research analyst reports. 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. Lake Street Capital increased their price target on shares of Perion Network from $13.00 to $14.00 and gave the stock a "buy" rating in a research report on Tuesday, July 1st. Roth Capital set a $14.00 target price on shares of Perion Network in a research note on Wednesday, May 14th. Needham & Company LLC reiterated a "hold" rating on shares of Perion Network in a report on Wednesday, May 14th. Finally, Wall Street Zen raised Perion Network from a "hold" rating to a "buy" rating in a research report on Saturday, August 16th. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Perion Network currently has an average rating of "Moderate Buy" and a consensus target price of $12.38.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in PERI. Osaic Holdings Inc. boosted its holdings 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 valued at $28,000 after acquiring an additional 1,843 shares in the last quarter. State of Wyoming boosted its holdings in Perion Network by 11.0% in the 2nd quarter. State of Wyoming now owns 22,147 shares of the technology company's stock valued at $225,000 after purchasing an additional 2,196 shares in the last quarter. Two Sigma Advisers LP increased its position 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 period. LPL Financial LLC raised its stake in shares of Perion Network by 2.8% during the 1st quarter. LPL Financial LLC now owns 243,563 shares of the technology company's stock worth $1,983,000 after buying an additional 6,649 shares in the last quarter. Finally, Balyasny Asset Management L.P. lifted its holdings in shares of Perion Network by 20.0% in the 2nd quarter. Balyasny Asset Management L.P. now owns 42,115 shares of the technology company's stock valued at $427,000 after buying an additional 7,028 shares during the period. Hedge funds and other institutional investors own 68.12% of the company's stock.

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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