Peraso (NASDAQ:PRSO) Upgraded at Wall Street Zen

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

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Peraso in a research report on Monday, December 29th. Two 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 stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $3.00.

Peraso Price Performance

Peraso stock opened at $0.94 on Friday. Peraso has a 1-year low of $0.60 and a 1-year high of $2.37. The firm has a market capitalization of $11.81 million, a P/E ratio of -1.32 and a beta of 1.01. The company’s 50-day moving average is $1.05 and its 200 day moving average is $1.10.

Peraso (NASDAQ:PRSO) last posted its quarterly earnings data on Monday, March 16th. The company reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.03. Peraso had a negative net margin of 38.99% and a negative return on equity of 129.12%. The company had revenue of $2.87 million for the quarter, compared to analyst estimates of $3.21 million. Research analysts anticipate that Peraso will post -3.11 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Peraso

A hedge fund recently raised its stake in Peraso stock. Geode Capital Management LLC lifted its stake in shares of Peraso Inc. (NASDAQ:PRSO) by 71.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 69,697 shares of the company’s stock after acquiring an additional 29,095 shares during the quarter. Geode Capital Management LLC owned approximately 0.78% of Peraso worth $61,000 at the end of the most recent reporting period. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

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.