Perion Network Ltd (NASDAQ:PERI) Sees Large Increase in Short Interest

Perion Network Ltd (NASDAQ:PERI) saw a large increase in short interest in the month of August. As of August 31st, there was short interest totaling 707,900 shares, an increase of 35.0% from the August 15th total of 524,500 shares. Approximately 1.6% of the company’s stock are sold short. Based on an average daily trading volume, of 320,000 shares, the short-interest ratio is presently 2.2 days. Based on an average daily trading volume, of 320,000 shares, the short-interest ratio is presently 2.2 days. Approximately 1.6% of the company’s stock are sold short.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on PERI shares. Lake Street Capital raised their target price on Perion Network from $13.00 to $14.00 and gave the company a “buy” rating in a research note on Tuesday, July 1st. Wall Street Zen upgraded Perion Network from a “hold” rating to a “buy” rating in a research note on Saturday, August 16th. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $12.38.

Hedge Funds Weigh In On Perion Network

Hedge funds and other institutional investors have recently modified their holdings of the business. Osaic Holdings Inc. boosted its stake in shares of Perion Network by 209.9% in the 2nd quarter. Osaic Holdings Inc. now owns 2,721 shares of the technology company’s stock worth $28,000 after buying an additional 1,843 shares during the last quarter. Caption Management LLC purchased a new position in shares of Perion Network in the 1st quarter worth approximately $60,000. R Squared Ltd purchased a new position in shares of Perion Network in the 2nd quarter worth approximately $116,000. Magnetar Financial LLC purchased a new position in shares of Perion Network in the 2nd quarter worth approximately $144,000. Finally, Worth Venture Partners LLC purchased a new position in shares of Perion Network in the 2nd quarter worth approximately $178,000. Hedge funds and other institutional investors own 68.12% of the company’s stock.

Perion Network Stock Up 3.2%

Shares of NASDAQ PERI opened at $9.80 on Friday. Perion Network has a twelve month low of $6.99 and a twelve month high of $11.79. The stock’s 50 day moving average price is $9.92 and its 200-day moving average price is $9.56. The company has a market capitalization of $439.33 million, a PE ratio of -81.67, a PEG ratio of 0.84 and a beta of 1.46.

About Perion Network

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.