Perion Network Ltd (NASDAQ:PERI) Short Interest Down 43.6% in July

Perion Network Ltd (NASDAQ:PERI) was the target of a large decline in short interest in the month of July. As of July 31st, there was short interest totalling 62,100 shares, a decline of 43.6% from the June 30th total of 110,100 shares. Based on an average daily volume of 162,400 shares, the short-interest ratio is currently 0.4 days. Currently, 0.4% of the shares of the company are short sold.

A number of research firms have commented on PERI. ValuEngine downgraded shares of Perion Network from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Zacks Investment Research downgraded shares of Perion Network from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Lake Street Capital assumed coverage on shares of Perion Network in a research report on Monday, July 8th. They issued a “buy” rating and a $6.00 target price for the company. Finally, TheStreet raised shares of Perion Network from a “d+” rating to a “c+” rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $5.42.

Shares of PERI stock traded up $0.20 during mid-day trading on Tuesday, reaching $5.61. 539,700 shares of the company’s stock traded hands, compared to its average volume of 113,803. Perion Network has a 12 month low of $2.47 and a 12 month high of $5.86. The firm’s 50 day moving average price is $3.91. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.23. The stock has a market cap of $135.71 million, a price-to-earnings ratio of 18.10, a PEG ratio of 2.73 and a beta of 1.04.

Perion Network (NASDAQ:PERI) last issued its quarterly earnings data on Wednesday, August 7th. The technology company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.08. Perion Network had a net margin of 4.55% and a return on equity of 7.51%. The firm had revenue of $63.57 million during the quarter, compared to the consensus estimate of $59.40 million. On average, research analysts anticipate that Perion Network will post 0.32 earnings per share for the current year.

Hedge funds have recently modified their holdings of the company. Meitav Dash Investments Ltd. grew its position in shares of Perion Network by 30.3% during the 1st quarter. Meitav Dash Investments Ltd. now owns 17,210 shares of the technology company’s stock valued at $47,000 after acquiring an additional 4,000 shares during the period. Jane Street Group LLC grew its position in shares of Perion Network by 30.4% during the 4th quarter. Jane Street Group LLC now owns 47,182 shares of the technology company’s stock valued at $123,000 after acquiring an additional 10,991 shares during the period. Wells Fargo & Company MN bought a new stake in shares of Perion Network during the 2nd quarter valued at $58,000. Renaissance Technologies LLC grew its position in shares of Perion Network by 5.5% during the 2nd quarter. Renaissance Technologies LLC now owns 1,274,659 shares of the technology company’s stock valued at $3,709,000 after acquiring an additional 66,340 shares during the period. Finally, Seizert Capital Partners LLC bought a new stake in shares of Perion Network during the 2nd quarter valued at $316,000. 10.88% of the stock is owned by hedge funds and other institutional investors.

Perion Network Company Profile

Perion Network Ltd. is a global technology company, which engages in the provision of advertising solutions to brands and publishers through innovative platforms. It is committed to providing data-driven execution, from high-impact ad formats to branded search and a unified social and mobile programmatic platform.

Further Reading: Gross Domestic Product (GDP)

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