Peraso (NASDAQ:PRSO) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Peraso (NASDAQ:PRSO) from a strong sell rating to a sell rating in a report released on Saturday morning.

Separately, Weiss Ratings cut Peraso from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $3.08.

Peraso Stock Down 1.3%

Shares of NASDAQ PRSO opened at $0.67 on Friday. Peraso has a twelve month low of $0.58 and a twelve month high of $2.37. The stock has a market cap of $9.88 million, a price-to-earnings ratio of -0.99 and a beta of 1.04. The company’s fifty day moving average is $0.79 and its 200-day moving average is $0.95.

Peraso (NASDAQ:PRSO) last issued its quarterly earnings data on Tuesday, August 11th. The company reported ($0.15) EPS for the quarter, topping the consensus estimate of ($0.18) by $0.03. Peraso had a negative return on equity of 223.38% and a negative net margin of 85.63%.The business had revenue of $1.31 million for the quarter, compared to the consensus estimate of $1.25 million. On average, research analysts anticipate that Peraso will post -0.66 EPS for the current fiscal year.

Institutional Trading of Peraso

A hedge fund recently raised its stake in Peraso stock. Geode Capital Management LLC lifted its position 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 (SEC). The firm owned 69,697 shares of the company’s stock after buying an additional 29,095 shares during the period. Geode Capital Management LLC owned about 0.78% of Peraso worth $61,000 at the end of the most recent quarter. Institutional investors 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.