Short Interest in Peraso Inc. (NASDAQ:PRSO) Declines By 39.5%

Peraso Inc. (NASDAQ:PRSO) saw a significant decrease in short interest in the month of February. As of February 27th, there was short interest totaling 145,178 shares, a decrease of 39.5% from the February 12th total of 240,032 shares. Based on an average daily trading volume, of 148,814 shares, the short-interest ratio is presently 1.0 days. Approximately 1.7% of the company’s stock are short sold. Approximately 1.7% of the company’s stock are short sold. Based on an average daily trading volume, of 148,814 shares, the short-interest ratio is presently 1.0 days.

Analysts Set New Price Targets

Several brokerages recently commented on PRSO. 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 reiterated a “sell (e+)” rating on shares of Peraso in a research note on Monday, December 29th. Finally, Benchmark restated a “buy” rating and issued a $3.00 target price on shares of Peraso in a research note on Friday, December 5th. Two analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $3.00.

Peraso Stock Performance

Shares of NASDAQ:PRSO traded up $0.02 during trading on Friday, hitting $1.49. The company’s stock had a trading volume of 1,833,029 shares, compared to its average volume of 20,778,524. Peraso has a fifty-two week low of $0.52 and a fifty-two week high of $2.37. The stock’s 50-day moving average price is $1.02 and its two-hundred day moving average price is $1.10. The company has a market capitalization of $13.38 million, a PE ratio of -1.57 and a beta of 1.10.

Hedge Funds Weigh In On Peraso

A hedge fund recently raised its stake in Peraso stock. Geode Capital Management LLC grew its holdings in shares of Peraso Inc. (NASDAQ:PRSO) by 71.7% in the 4th quarter, according to the company in its most recent 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 quarter. Geode Capital Management LLC owned 0.78% of Peraso worth $61,000 as of its most recent SEC filing. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

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.