Peraso Inc. (NASDAQ:PRSO) Short Interest Update

Peraso Inc. (NASDAQ:PRSO) was the target of a significant increase in short interest in the month of June. As of June 30th, there was short interest totaling 683,574 shares, an increase of 101.1% from the June 15th total of 339,851 shares. Currently, 4.8% of the shares of the stock are short sold. Based on an average daily volume of 484,963 shares, the days-to-cover ratio is currently 1.4 days.

Peraso Price Performance

Shares of NASDAQ:PRSO traded up $0.00 during trading on Friday, hitting $0.76. 187,301 shares of the company’s stock were exchanged, compared to its average volume of 4,302,882. The business’s 50-day simple moving average is $0.94 and its 200 day simple moving average is $0.99. Peraso has a 52-week low of $0.73 and a 52-week high of $2.37. The company has a market cap of $11.16 million, a price-to-earnings ratio of -0.91 and a beta of 1.00.

Peraso (NASDAQ:PRSO) last posted its quarterly earnings results on Monday, May 11th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.02). The business had revenue of $0.96 million during the quarter, compared to the consensus estimate of $1.15 million. Peraso had a negative return on equity of 170.96% and a negative net margin of 73.00%. On average, sell-side analysts anticipate that Peraso will post -0.66 EPS for the current fiscal year.

Hedge Funds Weigh In On Peraso

An institutional investor recently raised its stake in Peraso stock. Geode Capital Management LLC raised its stake in Peraso Inc. (NASDAQ:PRSO) by 71.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund 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 SEC filing. Institutional investors own 77.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on PRSO shares. Weiss Ratings cut shares of Peraso from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, July 2nd. Wall Street Zen cut shares of Peraso from a “hold” rating to a “strong sell” rating in a research note on Saturday, May 16th. Two 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.com, the company has a consensus rating of “Buy” and an average target price of $3.00.

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.