Peraso Inc. (NASDAQ:PRSO) Sees Large Drop in Short Interest

by · The Markets Daily

Peraso Inc. (NASDAQ:PRSO – Get Free Report) was the target of a large decline in short interest in January. As of January 15th, there was short interest totaling 191,077 shares, a decline of 18.4% from the December 31st total of 234,044 shares. Approximately 2.2% of the shares of the stock are short sold. Based on an average trading volume of 354,137 shares, the days-to-cover ratio is presently 0.5 days. Based on an average trading volume of 354,137 shares, the days-to-cover ratio is presently 0.5 days. Approximately 2.2% of the shares of the stock are short sold.

Analyst Ratings Changes

A number of research firms have commented on PRSO. Wall Street Zen raised Peraso from a “sell” rating to a “hold” rating in a research note on Saturday, January 3rd. Benchmark reiterated a “buy” rating and set a $3.00 price target on shares of Peraso in a research report on Friday, December 5th. Williams Trading set a $3.00 price objective on shares of Peraso in a research report on Friday, December 5th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Peraso in a research note on Monday, December 29th. Two investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $3.00.

Check Out Our Latest Stock Analysis on Peraso

Peraso Stock Performance

NASDAQ:PRSO traded down $0.05 during mid-day trading on Wednesday, hitting $0.82. The company had a trading volume of 352,553 shares, compared to its average volume of 502,777. Peraso has a fifty-two week low of $0.52 and a fifty-two week high of $2.37. The firm has a market cap of $7.32 million, a P/E ratio of -0.86 and a beta of 1.17. The business’s fifty day moving average is $0.97 and its two-hundred day moving average is $1.07.

Peraso (NASDAQ:PRSO – Get Free Report) last released its quarterly earnings data on Monday, November 10th. The company reported ($0.15) earnings per share for the quarter, topping the consensus estimate of ($0.25) by $0.10. The business had revenue of $3.23 million for the quarter, compared to analyst estimates of $3.03 million. Peraso had a negative net margin of 39.00% and a negative return on equity of 125.68%. Equities analysts forecast that Peraso will post -3.11 earnings per share for the current year.

Peraso Company Profile

(Get Free Report)

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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