Peraso Inc. (NASDAQ:PRSO) Short Interest Update

Peraso Inc. (NASDAQ:PRSO) was the recipient of a significant decline in short interest during the month of December. As of December 31st, there was short interest totaling 234,044 shares, a decline of 18.6% from the December 15th total of 287,584 shares. Currently, 2.7% of the company’s stock are sold short. Based on an average trading volume of 287,625 shares, the days-to-cover ratio is presently 0.8 days. Based on an average trading volume of 287,625 shares, the days-to-cover ratio is presently 0.8 days. Currently, 2.7% of the company’s stock are sold short.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Zacks Research upgraded shares of Peraso from a “hold” rating to a “strong-buy” rating in a report on Monday, October 6th. Weiss Ratings reissued a “sell (e+)” rating on shares of Peraso in a research report on Monday, December 29th. LADENBURG THALM/SH SH upgraded Peraso to a “strong-buy” rating in a report on Thursday, October 2nd. Williams Trading set a $3.00 price target on Peraso in a research report on Friday, December 5th. Finally, Wall Street Zen raised Peraso from a “sell” rating to a “hold” rating in a report on Saturday, January 3rd. Two equities research 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $3.00.

Peraso Trading Up 17.6%

PRSO traded up $0.17 during trading on Monday, hitting $1.17. The stock had a trading volume of 1,563,494 shares, compared to its average volume of 310,747. The firm has a market cap of $10.51 million, a PE ratio of -1.23 and a beta of 1.09. Peraso has a 12 month low of $0.52 and a 12 month high of $2.37. The company has a 50 day simple moving average of $0.95 and a 200-day simple moving average of $1.08.

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

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.