Perion Network Ltd. (NASDAQ:PERI) Short Interest Update

Perion Network Ltd. (NASDAQ:PERI) was the recipient of a large growth in short interest during the month of February. As of February 28th, there was short interest totalling 943,400 shares, a growth of 48.9% from the February 13th total of 633,400 shares. Based on an average daily volume of 394,500 shares, the days-to-cover ratio is presently 2.4 days. Currently, 2.2% of the company’s shares are short sold.

Perion Network Trading Up 4.3 %

Shares of PERI stock traded up $0.36 on Friday, reaching $8.75. The company had a trading volume of 394,718 shares, compared to its average volume of 440,339. The company has a 50-day moving average of $8.86 and a 200-day moving average of $8.53. Perion Network has a 12 month low of $7.47 and a 12 month high of $23.03. The stock has a market cap of $392.22 million, a PE ratio of 33.66, a PEG ratio of 0.76 and a beta of 1.53.

Perion Network (NASDAQ:PERI) last posted its earnings results on Wednesday, February 19th. The technology company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.15). The firm had revenue of $129.58 million during the quarter, compared to analyst estimates of $130.44 million. Perion Network had a return on equity of 5.55% and a net margin of 2.53%. Sell-side analysts anticipate that Perion Network will post 0.51 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have issued reports on PERI shares. Lake Street Capital restated a “buy” rating and set a $10.50 target price (down from $11.00) on shares of Perion Network in a research report on Wednesday, February 19th. Needham & Company LLC restated a “hold” rating on shares of Perion Network in a report on Thursday, February 20th. Finally, StockNews.com lowered shares of Perion Network from a “hold” rating to a “sell” rating in a report on Thursday, February 20th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $12.25.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PERI. Russell Investments Group Ltd. bought a new stake in shares of Perion Network in the fourth quarter worth about $41,000. SBI Securities Co. Ltd. bought a new position in shares of Perion Network during the 4th quarter valued at about $45,000. Perritt Capital Management Inc acquired a new position in shares of Perion Network in the 4th quarter valued at approximately $127,000. Point72 Asset Management L.P. bought a new stake in Perion Network during the 3rd quarter worth approximately $134,000. Finally, XTX Topco Ltd acquired a new stake in Perion Network during the 3rd quarter worth approximately $150,000. 68.12% of the stock is currently owned by institutional investors.

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.