Peraso (NASDAQ:PRSO) Upgraded by Wall Street Zen to Sell Rating

Wall Street Zen upgraded shares of Peraso (NASDAQ:PRSO) from a strong sell rating to a sell rating in a research report report published on Saturday.

Separately, Weiss Ratings lowered Peraso from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, August 7th. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, Peraso has an average rating of “Buy” and an average price target of $3.00.

Peraso Stock Performance

Shares of NASDAQ:PRSO opened at $0.68 on Friday. Peraso has a 52-week low of $0.58 and a 52-week high of $2.37. The business’s 50 day simple moving average is $0.79 and its two-hundred day simple moving average is $0.95. The firm has a market cap of $10.01 million, a P/E ratio of -1.00 and a beta of 1.04.

Peraso (NASDAQ:PRSO) last announced its quarterly earnings results on Tuesday, August 11th. The company reported ($0.15) EPS for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.03. The business had revenue of $1.31 million during the quarter, compared to analyst estimates of $1.25 million. Peraso had a negative net margin of 85.63% and a negative return on equity of 167.53%. On average, equities analysts forecast that Peraso will post -0.66 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Peraso

A hedge fund recently raised its position in Peraso stock. Geode Capital Management LLC increased its stake in Peraso Inc. (NASDAQ:PRSO) by 71.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 69,697 shares of the company’s stock after purchasing an additional 29,095 shares during the quarter. Geode Capital Management LLC owned approximately 0.78% of Peraso worth $61,000 at the end of the most recent quarter. Institutional investors 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.