Peraso Inc. (NASDAQ:PRSO) Short Interest Update

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PRSO. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Peraso in a research note on Monday, December 29th. LADENBURG THALM/SH SH upgraded Peraso to a “strong-buy” rating in a report on Thursday, October 2nd. Wall Street Zen raised Peraso from a “sell” rating to a “hold” rating in a research report on Saturday, January 3rd. Zacks Research upgraded Peraso from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 6th. Finally, Benchmark reaffirmed a “buy” rating and issued a $3.00 price target on shares of Peraso in a research note on Friday, December 5th. Two investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $3.00.

Peraso Stock Performance

Shares of PRSO traded up $0.04 during mid-day trading on Tuesday, reaching $1.21. The company had a trading volume of 1,306,537 shares, compared to its average volume of 537,171. The company has a market capitalization of $10.87 million, a price-to-earnings ratio of -1.27 and a beta of 1.09. The firm has a 50-day moving average price of $0.96 and a 200 day moving average price of $1.08. Peraso has a 52 week low of $0.52 and a 52 week high of $2.37.

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

Peraso Company Profile

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.