Short Interest in Perfect Corp. (NYSE:PERF) Declines By 53.2%

Key Points

• Perfect Corp. saw a significant decline in short interest, with a decrease of 53.2% from 65,400 shares to 30,600 shares as of August 31st.
• A recent upgrade from "buy" to "hold" by Wall Street Zen reflects a change in analyst sentiment regarding Perfect Corp.'s stock.
• During mid-day trading, Perfect's stock increased by 7.8%, reaching a price of $2.07, with a market cap of $176.07 million.

Perfect Corp. (NYSE:PERF - Get Free Report) was the recipient of a significant decrease in short interest in August. As of August 31st, there was short interest totaling 30,600 shares, a decrease of 53.2% from the August 15th total of 65,400 shares. Approximately 0.1% of the company's stock are sold short. Based on an average daily volume of 261,500 shares, the days-to-cover ratio is presently 0.1 days. Based on an average daily volume of 261,500 shares, the days-to-cover ratio is presently 0.1 days. Approximately 0.1% of the company's stock are sold short.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen lowered Perfect from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd.

Perfect Trading Up 7.8%

Perfect stock traded up $0.15 during mid-day trading on Friday, hitting $2.07. The company's stock had a trading volume of 248,614 shares, compared to its average volume of 134,931. Perfect has a 52-week low of $1.51 and a 52-week high of $3.44. The stock's 50 day moving average is $2.10. The firm has a market cap of $176.07 million, a P/E ratio of 34.51, a PEG ratio of 3.00 and a beta of 0.47.

Institutional Investors Weigh In On Perfect

A hedge fund recently bought a new stake in Perfect stock. BNP Paribas Financial Markets purchased a new position in shares of Perfect Corp. (NYSE:PERF - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 13,100 shares of the company's stock, valued at approximately $30,000.

About Perfect

Perfect Corp. is a software as a service technology company, which engages in the business of developing makeup virtual try-on solutions. Its solutions include virtual try-ons for makeup, nail art, hairstyles, beard dye and styling, eyewear, jewelry, advanced skin diagnostic technology, foundation shade finder, and interactive artificial reality makeup application tutorial platform.

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