Short Interest in Perion Network Ltd. (NASDAQ:PERI) Decreases By 20.4%

Perion Network Ltd. (NASDAQ:PERI) was the target of a significant decrease in short interest during the month of December. As of December 15th, there was short interest totalling 604,800 shares, a decrease of 20.4% from the November 30th total of 759,800 shares. Based on an average daily volume of 306,200 shares, the days-to-cover ratio is currently 2.0 days.

Perion Network Price Performance

Shares of Perion Network stock traded down $0.01 during trading hours on Tuesday, hitting $8.47. The company’s stock had a trading volume of 257,234 shares, compared to its average volume of 622,086. Perion Network has a 12 month low of $7.47 and a 12 month high of $31.38. The company has a market capitalization of $407.64 million, a PE ratio of 9.11, a price-to-earnings-growth ratio of 0.45 and a beta of 1.47. The stock has a 50 day moving average of $8.55 and a 200 day moving average of $8.41.

Institutional Trading of Perion Network

Large investors have recently bought and sold shares of the business. Squarepoint Ops LLC boosted its holdings in shares of Perion Network by 997.5% in the second quarter. Squarepoint Ops LLC now owns 133,815 shares of the technology company’s stock valued at $1,117,000 after buying an additional 121,622 shares during the period. Y.D. More Investments Ltd boosted its stake in Perion Network by 580.4% in the 2nd quarter. Y.D. More Investments Ltd now owns 264,379 shares of the technology company’s stock worth $2,191,000 after purchasing an additional 225,520 shares during the period. GSA Capital Partners LLP increased its holdings in Perion Network by 436.2% during the 3rd quarter. GSA Capital Partners LLP now owns 76,463 shares of the technology company’s stock worth $603,000 after purchasing an additional 62,204 shares in the last quarter. PDT Partners LLC raised its stake in shares of Perion Network by 58.8% in the 3rd quarter. PDT Partners LLC now owns 175,345 shares of the technology company’s stock valued at $1,382,000 after purchasing an additional 64,936 shares during the period. Finally, Public Employees Retirement System of Ohio bought a new stake in shares of Perion Network in the third quarter valued at about $658,000. 68.12% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PERI. Stifel Nicolaus reduced their target price on Perion Network from $9.00 to $7.50 and set a “hold” rating on the stock in a report on Monday, October 14th. Needham & Company LLC reiterated a “hold” rating on shares of Perion Network in a research report on Thursday, November 7th. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $12.13.

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.