Perion Network Ltd (NASDAQ:PERI) Sees Significant Decline in Short Interest

Perion Network Ltd (NASDAQ:PERI) was the recipient of a large decrease in short interest in the month of June. As of June 15th, there was short interest totalling 43,700 shares, a decrease of 12.2% from the May 15th total of 49,800 shares. Currently, 0.3% of the company’s stock are sold short. Based on an average daily volume of 35,100 shares, the short-interest ratio is presently 1.2 days.

PERI has been the subject of several research reports. Lake Street Capital initiated coverage on shares of Perion Network in a research report on Monday, July 8th. They issued a “buy” rating and a $6.00 price target for the company. Zacks Investment Research raised shares of Investors Real Estate Trust Reit from a “sell” rating to a “hold” rating in a research report on Thursday, May 23rd. ValuEngine cut shares of Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday, May 28th. Finally, TheStreet raised shares of Transcontinental Realty Investors from a “d+” rating to a “c+” rating in a research report on Tuesday, April 16th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company’s stock. Perion Network currently has an average rating of “Hold” and a consensus target price of $5.42.

NASDAQ:PERI opened at $3.51 on Friday. Perion Network has a 52 week low of $2.47 and a 52 week high of $3.95. The company’s 50 day moving average price is $3.02. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.21 and a quick ratio of 1.21. The stock has a market capitalization of $90.73 million, a PE ratio of 7.02, a price-to-earnings-growth ratio of 1.83 and a beta of 1.05.

Perion Network (NASDAQ:PERI) last posted its earnings results on Wednesday, May 15th. The technology company reported $0.05 EPS for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.01. Perion Network had a net margin of 3.78% and a return on equity of 8.90%. The company had revenue of $53.85 million during the quarter, compared to analysts’ expectations of $61.00 million. On average, equities analysts anticipate that Perion Network will post 0.32 earnings per share for the current fiscal year.

An institutional investor recently raised its position in Perion Network stock. Jane Street Group LLC boosted its position in shares of Perion Network Ltd (NASDAQ:PERI) by 30.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 47,182 shares of the technology company’s stock after acquiring an additional 10,991 shares during the period. Jane Street Group LLC owned 0.18% of Perion Network worth $123,000 as of its most recent filing with the Securities & Exchange Commission. 10.38% of the stock is owned by 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: Risk Tolerance

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