Short Interest in Peraso Inc. (NASDAQ:PRSO) Drops By 39.5%
by Michael Walen · The Markets DailyPeraso Inc. (NASDAQ:PRSO – Get Free Report) was the recipient of a significant decline in short interest in February. As of February 27th, there was short interest totaling 145,178 shares, a decline of 39.5% from the February 12th total of 240,032 shares. Based on an average daily trading volume, of 148,814 shares, the days-to-cover ratio is presently 1.0 days. Approximately 1.7% of the shares of the stock are short sold. Approximately 1.7% of the shares of the stock are short sold. Based on an average daily trading volume, of 148,814 shares, the days-to-cover ratio is presently 1.0 days.
Wall Street Analysts Forecast Growth
Several research analysts have issued reports on the company. Wall Street Zen upgraded Peraso from a “sell” rating to a “hold” rating in a research report on Saturday, January 3rd. Williams Trading set a $3.00 price target on shares of Peraso in a research note on Friday, December 5th. Benchmark reiterated a “buy” rating and issued a $3.00 price target on shares of Peraso in a report on Friday, December 5th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Peraso in a research note on Monday, December 29th. Two equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Peraso has an average rating of “Buy” and a consensus price target of $3.00.
Check Out Our Latest Stock Analysis on Peraso
Peraso Stock Up 1.4%
NASDAQ PRSO traded up $0.02 during mid-day trading on Friday, hitting $1.49. The stock had a trading volume of 1,833,029 shares, compared to its average volume of 20,778,524. Peraso has a 52-week low of $0.52 and a 52-week high of $2.37. The company has a market cap of $13.38 million, a price-to-earnings ratio of -1.57 and a beta of 1.10. The company has a 50 day simple moving average of $1.02 and a 200 day simple moving average of $1.10.
Institutional Inflows and Outflows
A hedge fund recently raised its stake in Peraso stock. Geode Capital Management LLC increased its holdings in Peraso Inc. (NASDAQ:PRSO – Free Report) by 71.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 69,697 shares of the company’s stock after buying an additional 29,095 shares during the period. Geode Capital Management LLC owned about 0.78% of Peraso worth $61,000 as of its most recent SEC filing. 77.60% of the stock is currently 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.