Peraso Inc. (NASDAQ:PRSO) Sees Significant Decrease in Short Interest
by Renee Jackson · The Cerbat GemPeraso Inc. (NASDAQ:PRSO – Get Free Report) was the target of a significant decrease in short interest in March. As of March 31st, there was short interest totaling 492,856 shares, a decrease of 70.7% from the March 15th total of 1,681,312 shares. Currently, 4.0% of the company’s stock are short sold. Based on an average trading volume of 4,458,328 shares, the days-to-cover ratio is currently 0.1 days.
Peraso Stock Down 6.5%
PRSO traded down $0.07 during trading on Monday, hitting $0.94. 509,319 shares of the company’s stock were exchanged, compared to its average volume of 7,080,758. The business’s 50 day moving average is $1.05 and its two-hundred day moving average is $1.10. Peraso has a fifty-two week low of $0.60 and a fifty-two week high of $2.37. The stock has a market cap of $11.81 million, a P/E ratio of -1.32 and a beta of 1.01.
Peraso (NASDAQ:PRSO – Get Free Report) last released its quarterly earnings data on Monday, March 16th. The company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.03. Peraso had a negative net margin of 38.99% and a negative return on equity of 129.12%. The firm had revenue of $2.87 million for the quarter, compared to the consensus estimate of $3.21 million. On average, sell-side analysts forecast that Peraso will post -3.11 earnings per share for the current year.
Analysts Set New Price Targets
Several research analysts recently issued reports on PRSO shares. Wall Street Zen raised shares of Peraso from a “sell” rating to a “hold” rating in a research note on Saturday. Weiss Ratings reissued a “sell (e+)” rating on shares of Peraso in a research note on Monday, December 29th. Two research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Peraso presently has a consensus rating of “Buy” and a consensus price target of $3.00.
Get Our Latest Stock Report on Peraso
Institutional Inflows and Outflows
An institutional investor recently raised its position in Peraso stock. Geode Capital Management LLC boosted its holdings in shares of Peraso Inc. (NASDAQ:PRSO – Free Report) by 71.7% during the 4th quarter, according to the company in its most recent Form 13F 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 period. Geode Capital Management LLC owned approximately 0.78% of Peraso worth $61,000 as of its most recent SEC filing. Institutional investors and hedge funds own 77.60% of the company’s stock.
Peraso Company Profile
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.