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

Peraso Inc. (NASDAQ:PRSO) was the target of a significant decline in short interest during the month of 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. Currently, 2.2% of the company’s stock are short sold. Based on an average daily trading volume, of 354,137 shares, the days-to-cover ratio is presently 0.5 days. Based on an average daily trading volume, of 354,137 shares, the days-to-cover ratio is presently 0.5 days. Currently, 2.2% of the company’s stock are short sold.

Peraso Stock Performance

Shares of PRSO stock traded down $0.02 during trading hours on Monday, reaching $0.89. The company had a trading volume of 340,685 shares, compared to its average volume of 513,562. The business has a fifty day moving average price of $0.97 and a 200-day moving average price of $1.07. Peraso has a one year low of $0.52 and a one year high of $2.37. The firm has a market cap of $8.00 million, a PE ratio of -0.94 and a beta of 1.17.

Peraso (NASDAQ:PRSO) last announced its earnings results on Monday, November 10th. The company reported ($0.15) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.10. Peraso had a negative net margin of 39.00% and a negative return on equity of 125.68%. The business had revenue of $3.23 million during the quarter, compared to analyst estimates of $3.03 million. Equities research analysts forecast that Peraso will post -3.11 EPS for the current year.

Analyst Upgrades and Downgrades

PRSO has been the subject of several analyst reports. Wall Street Zen upgraded Peraso from a “sell” rating to a “hold” rating in a report on Saturday, January 3rd. Williams Trading set a $3.00 price objective on shares of Peraso in a research report on Friday, December 5th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Peraso in a report on Monday, December 29th. Zacks Research upgraded shares of Peraso from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 6th. Finally, Benchmark reissued a “buy” rating and set a $3.00 price target on shares of Peraso in a research report on Friday, December 5th. Two research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus 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.