Peraso (NASDAQ:PRSO) Shares Down 2.4% – Time to Sell?

Shares of Peraso Inc. (NASDAQ:PRSO) dropped 2.4% during trading on Tuesday . The stock traded as low as $0.8824 and last traded at $0.9074. Approximately 149,881 shares were traded during mid-day trading, a decline of 89% from the average daily volume of 1,351,522 shares. The stock had previously closed at $0.93.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. LADENBURG THALM/SH SH raised shares of Peraso to a “strong-buy” rating in a report on Thursday, October 2nd. Wall Street Zen upgraded shares of Peraso to a “hold” rating in a research report on Saturday, October 18th. Zacks Research raised Peraso from a “hold” rating to a “strong-buy” rating in a report on Monday, October 6th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Peraso in a report on Wednesday, November 26th. Two equities 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. Based on data from MarketBeat.com, Peraso currently has a consensus rating of “Buy” and a consensus target price of $3.00.

Peraso Stock Performance

The firm has a market capitalization of $8.15 million, a price-to-earnings ratio of -0.52 and a beta of 1.24. The company has a current ratio of 2.03, a quick ratio of 1.48 and a debt-to-equity ratio of 0.04. The stock’s 50-day moving average is $1.25 and its 200-day moving average is $1.10.

Peraso (NASDAQ:PRSO) last posted its earnings results on Monday, November 10th. The company reported ($0.15) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.10. The firm had revenue of $3.23 million for the quarter, compared to analysts’ expectations of $3.03 million. Peraso had a negative net margin of 48.29% and a negative return on equity of 165.47%. On average, analysts predict that Peraso Inc. will post -3.11 EPS for the current fiscal year.

About Peraso

Peraso Inc, a fabless semiconductor company, develops, markets, and sells semiconductor devices and modules. The company's products include millimeter wavelength (mmWave) ICs, including baseband IC, various mmWave radio frequency, integrated circuits, as well as associated antenna technology; and mmWave antenna modules.