Peraso (NASDAQ:PRSO) Cut to “Sell” at Wall Street Zen

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

A number of other analysts have also recently weighed in on the company. Williams Trading set a $3.00 price objective on Peraso in a research report on Friday, December 5th. Benchmark restated a “buy” rating and set a $3.00 price target on shares of Peraso in a research note on Friday, December 5th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Peraso in a research report on Monday, December 29th. Two equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $3.00.

Peraso Stock Performance

NASDAQ PRSO opened at $1.17 on Friday. The firm’s fifty day moving average is $1.06 and its two-hundred day moving average is $1.12. Peraso has a one year low of $0.52 and a one year high of $2.37. The firm has a market cap of $10.51 million, a PE ratio of -1.65 and a beta of 1.10.

Peraso (NASDAQ:PRSO) last announced its earnings results on Monday, March 16th. The company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.03. Peraso had a negative net margin of 38.99% and a negative return on equity of 140.94%. The business had revenue of $2.87 million during the quarter, compared to the consensus estimate of $3.21 million. Research analysts predict that Peraso will post -3.11 earnings per share for the current year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Peraso stock. Geode Capital Management LLC raised its holdings in Peraso Inc. (NASDAQ:PRSO) by 71.7% in the fourth quarter, according to the company in its most recent disclosure 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 0.78% of Peraso worth $61,000 as of its most recent filing with the SEC. 77.60% of the stock is owned by institutional investors and hedge funds.

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.