Peraso Inc. (NASDAQ:PRSO) Short Interest Up 1,058.1% in March

Peraso Inc. (NASDAQ:PRSO) saw a large growth in short interest in the month of March. As of March 13th, there was short interest totaling 1,681,312 shares, a growth of 1,058.1% from the February 26th total of 145,178 shares. Based on an average daily trading volume, of 40,423,730 shares, the short-interest ratio is presently 0.0 days. Approximately 19.3% of the company’s shares are short sold.

Peraso Price Performance

NASDAQ PRSO traded down $0.08 during trading hours on Thursday, hitting $1.05. The company had a trading volume of 660,101 shares, compared to its average volume of 8,326,107. The firm’s 50 day moving average is $1.06 and its 200 day moving average is $1.12. Peraso has a fifty-two week low of $0.52 and a fifty-two week high of $2.37. The company has a market capitalization of $9.43 million, a price-to-earnings ratio of -1.48 and a beta of 1.10.

Peraso (NASDAQ:PRSO) last posted its earnings results on Monday, March 16th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.03. The business had revenue of $2.87 million during the quarter, compared to analyst estimates of $3.21 million. Peraso had a negative return on equity of 140.94% and a negative net margin of 38.99%. On average, equities analysts anticipate that Peraso will post -3.11 EPS for the current year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Peraso stock. Geode Capital Management LLC grew its stake in shares of Peraso Inc. (NASDAQ:PRSO) by 71.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund 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 as of its most recent SEC filing. Institutional investors own 77.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Benchmark reiterated a “buy” rating and issued a $3.00 target price on shares of Peraso in a report on Friday, December 5th. Weiss Ratings restated a “sell (e+)” rating on shares of Peraso in a report on Monday, December 29th. Williams Trading set a $3.00 price objective on Peraso in a research note on Friday, December 5th. Finally, Wall Street Zen cut Peraso from a “hold” rating to a “sell” rating in a report on Saturday, March 21st. Two equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target 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.