Weiss Ratings Reaffirms Sell (E+) Rating for Veritone (NASDAQ:VERI)

Veritone (NASDAQ:VERI)‘s stock had its “sell (e+)” rating restated by equities researchers at Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

VERI has been the subject of several other reports. D. Boral Capital reiterated a “buy” rating and set a $6.00 target price on shares of Veritone in a research note on Tuesday, September 2nd. Wall Street Zen raised Veritone from a “sell” rating to a “hold” rating in a report on Friday, September 26th. Finally, D Boral Capital raised Veritone to a “strong-buy” rating in a report on Tuesday, September 2nd. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $5.00.

Veritone Stock Performance

Shares of NASDAQ VERI opened at $5.25 on Wednesday. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 89.57. Veritone has a 12 month low of $1.22 and a 12 month high of $6.43. The stock has a 50 day moving average of $3.64 and a 200-day moving average of $2.49. The company has a market capitalization of $310.64 million, a P/E ratio of -6.33 and a beta of 3.23.

Hedge Funds Weigh In On Veritone

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ground Swell Capital LLC acquired a new position in Veritone in the 2nd quarter valued at $27,000. Virtu Financial LLC acquired a new position in Veritone in the 1st quarter valued at $30,000. Capital Advisors Inc. OK acquired a new position in Veritone in the 1st quarter valued at $70,000. NBZ Investment Advisors LLC acquired a new position in Veritone in the 1st quarter valued at $86,000. Finally, Skandinaviska Enskilda Banken AB publ acquired a new position in Veritone in the 1st quarter valued at $102,000. 39.18% of the stock is owned by institutional investors and hedge funds.

About Veritone

Veritone, Inc, together with its subsidiaries, engages in the provision of artificial intelligence (AI) computing solutions and services in the United States, the United Kingdom, France, Australia, Israel, and India. It develops and operates aiWARE platform, an AI operating system, that uses machine learning algorithms or AI models designed to mimic human cognitive functions, such as perception, prediction, and problem solving and optimization, as well as enables users to transform unstructured data into structured data, and analyze and optimize data to drive business processes and insights.