Peraso Inc. (NASDAQ:PRSO) Short Interest Down 57.0% in May
by Renee Jackson · The Cerbat GemPeraso Inc. (NASDAQ:PRSO – Get Free Report) was the target of a significant 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 shares are sold short. Based on an average trading volume of 928,938 shares, the days-to-cover ratio is presently 0.5 days.
Institutional Investors Weigh In On Peraso
A hedge fund recently raised its stake in Peraso stock. Geode Capital Management LLC raised its position in Peraso Inc. (NASDAQ:PRSO – Free Report) by 71.7% in 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 approximately 0.78% of Peraso worth $61,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors own 77.60% of the company’s stock.
Wall Street Analyst Weigh In
PRSO has been the topic of several research reports. Weiss Ratings lowered shares of Peraso from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, May 28th. Wall Street Zen lowered shares of Peraso from a “hold” rating to a “strong sell” rating in a report on Saturday, May 16th. Two research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $3.00.
Check Out Our Latest Stock Report on Peraso
Peraso Stock Down 6.3%
PRSO stock traded down $0.06 during trading on Friday, hitting $0.93. 656,534 shares of the company’s stock traded hands, compared to its average volume of 742,230. The firm has a market capitalization of $13.65 million, a P/E ratio of -1.12 and a beta of 1.00. The business has a fifty day simple moving average of $1.01 and a two-hundred day simple moving average of $1.01. Peraso has a 1 year low of $0.77 and a 1 year high of $2.37.
Peraso (NASDAQ:PRSO – Get Free Report) last issued its quarterly earnings data 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 business had revenue of $0.96 million for the quarter, compared to analysts’ expectations of $1.15 million. Peraso had a negative net margin of 73.00% and a negative return on equity of 170.96%. On average, equities research analysts predict that Peraso will post -0.44 EPS for the current fiscal 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.