Peraso Inc. (NASDAQ:PRSO – Get Free Report) was the recipient of a significant growth in short interest during the month of June. As of June 30th, there was short interest totaling 683,574 shares, a growth of 101.1% from the June 15th total of 339,851 shares. Based on an average daily volume of 484,963 shares, the days-to-cover ratio is currently 1.4 days. Currently, 4.8% of the company’s shares are short sold.
Institutional Trading of Peraso
An institutional investor recently raised its stake in Peraso stock. Geode Capital Management LLC boosted its stake in Peraso Inc. (NASDAQ:PRSO – Free Report) by 71.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 69,697 shares of the company’s stock after acquiring an additional 29,095 shares during the period. Geode Capital Management LLC owned 0.78% of Peraso worth $61,000 at the end of the most recent reporting period. 77.60% of the stock is owned by institutional investors.
Analyst Ratings Changes
PRSO has been the subject of a number of analyst reports. Wall Street Zen lowered Peraso from a “hold” rating to a “strong sell” rating in a research note on Saturday, May 16th. Weiss Ratings lowered shares of Peraso from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, July 2nd. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $3.00.
Peraso Price Performance
NASDAQ:PRSO traded down $0.05 during mid-day trading on Thursday, reaching $0.75. 298,205 shares of the company’s stock traded hands, compared to its average volume of 4,333,618. Peraso has a 12-month low of $0.73 and a 12-month high of $2.37. The firm has a market capitalization of $11.11 million, a price-to-earnings ratio of -0.91 and a beta of 1.00. The company has a 50 day moving average price of $0.94 and a 200-day moving average price of $0.99.
Peraso (NASDAQ:PRSO – Get Free Report) last released its quarterly earnings data on Monday, May 11th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.02). The business had revenue of $0.96 million during the quarter, compared to analysts’ expectations of $1.15 million. Peraso had a negative return on equity of 170.96% and a negative net margin of 73.00%. As a group, analysts forecast that Peraso will post -0.66 EPS for the current year.
About Peraso
Peraso Technologies Inc is a Canadian semiconductor company specializing in the research, design and development of millimeter wave (mmWave) wireless communication solutions. The company’s core focus lies in the 60 GHz frequency band, where it engineers high-performance integrated circuits and beamforming solutions designed to deliver multi-gigabit wireless connectivity. Peraso’s technology is tailored for applications demanding high data throughput, low latency and reliable short-range wireless links.
The company’s product portfolio includes 60 GHz chipset solutions for wireless local area networking (WiGig), fixed wireless access (FWA), small-cell backhaul and point-to-point communication links.
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