Peraso Inc. (NASDAQ:PRSO) Short Interest Up 101.1% in June

Peraso Inc. (NASDAQ:PRSO) was the target of a large 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. Based on an average daily trading volume, of 484,963 shares, the short-interest ratio is presently 1.4 days. Currently, 4.8% of the company’s shares are sold short.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on PRSO shares. Weiss Ratings cut shares of Peraso from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, July 2nd. Wall Street Zen cut shares of Peraso from a “hold” rating to a “strong sell” rating in a research report on Saturday, May 16th. 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 data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $3.00.

Institutional Trading of Peraso

A hedge fund recently raised its position in Peraso stock. Geode Capital Management LLC increased its holdings in Peraso Inc. (NASDAQ:PRSO) by 71.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 69,697 shares of the company’s stock after buying an additional 29,095 shares during the period. Geode Capital Management LLC owned 0.78% of Peraso worth $61,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Peraso Price Performance

Shares of NASDAQ PRSO traded up $0.02 during trading on Wednesday, hitting $0.78. The stock had a trading volume of 291,707 shares, compared to its average volume of 4,363,312. The firm has a fifty day moving average of $0.95 and a two-hundred day moving average of $0.99. The company has a market capitalization of $11.53 million, a PE ratio of -0.94 and a beta of 1.00. Peraso has a 12 month low of $0.73 and a 12 month high of $2.37.

Peraso (NASDAQ:PRSO) last issued its quarterly earnings results on Monday, May 11th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.02). The business had revenue of $0.96 million for 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, equities analysts expect that Peraso will post -0.66 earnings per share 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.