Peraso Inc. (NASDAQ:PRSO) Sees Significant Decrease in Short Interest

Peraso Inc. (NASDAQ:PRSO) saw a significant decline in short interest in the month of May. As of May 29th, there was short interest totaling 425,183 shares, a decline of 57.0% from the May 14th total of 987,728 shares. Currently, 3.0% of the shares of the company are sold short. Based on an average daily volume of 928,938 shares, the short-interest ratio is currently 0.5 days.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Wall Street Zen downgraded Peraso from a “hold” rating to a “strong sell” rating in a research report on Saturday, May 16th. Weiss Ratings lowered Peraso from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, May 28th. Two investment 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 company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $3.00.

Peraso Stock Performance

Shares of NASDAQ PRSO opened at $0.99 on Friday. The firm has a fifty day moving average of $1.01 and a 200 day moving average of $1.01. The firm has a market cap of $14.58 million, a PE ratio of -1.19 and a beta of 1.00. Peraso has a one year low of $0.77 and a one year high of $2.37.

Peraso (NASDAQ:PRSO) last released its earnings results on Monday, May 11th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.02). The firm had revenue of $0.96 million during the quarter, compared to analysts’ expectations of $1.15 million. Peraso had a negative net margin of 73.00% and a negative return on equity of 170.96%. On average, equities analysts predict that Peraso will post -0.44 EPS for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Peraso stock. Geode Capital Management LLC grew its stake in Peraso Inc. (NASDAQ:PRSO) by 71.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 69,697 shares of the company’s stock after purchasing an additional 29,095 shares during the period. Geode Capital Management LLC owned approximately 0.78% of Peraso worth $61,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds own 77.60% of the company’s stock.

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.