Peraso Inc. (NASDAQ:PRSO – Get Free Report) was the target of a large drop in short interest in the month of May. As of May 29th, there was short interest totaling 425,183 shares, a drop of 57.0% from the May 14th total of 987,728 shares. Approximately 3.0% of the company’s stock are short sold. Based on an average daily volume of 928,938 shares, the short-interest ratio is currently 0.5 days.
Peraso Stock Up 3.0%
Shares of Peraso stock opened at $0.99 on Friday. The company has a 50 day moving average price of $1.01 and a 200 day moving average price of $1.01. The firm has a market capitalization of $14.58 million, a P/E ratio of -1.19 and a beta of 1.00. Peraso has a 52 week low of $0.77 and a 52 week high of $2.37.
Peraso (NASDAQ:PRSO – Get Free Report) last released its earnings results on Monday, May 11th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.02). The firm had revenue of $0.96 million during the quarter, compared to analyst estimates of $1.15 million. Peraso had a negative net margin of 73.00% and a negative return on equity of 170.96%. As a group, research analysts anticipate that Peraso will post -0.44 earnings per share for the current fiscal year.
Analysts Set New Price Targets
Check Out Our Latest Research Report on PRSO
Institutional Investors Weigh In On Peraso
A hedge fund recently raised its stake in Peraso stock. Geode Capital Management LLC boosted its holdings in shares of Peraso Inc. (NASDAQ:PRSO – Free Report) by 71.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 69,697 shares of the company’s stock after buying an additional 29,095 shares during the quarter. 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 hedge funds and other institutional investors.
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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