Wall Street Zen Downgrades Peraso (NASDAQ:PRSO) to Strong Sell

Peraso (NASDAQ:PRSO) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “strong sell” rating in a report released on Saturday.

Separately, Weiss Ratings upgraded Peraso from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, May 11th. 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. Based on data from MarketBeat, Peraso has a consensus rating of “Buy” and an average target price of $3.00.

Peraso Stock Performance

Shares of PRSO opened at $0.98 on Friday. The stock has a 50 day moving average price of $1.11 and a 200 day moving average price of $1.02. Peraso has a one year low of $0.77 and a one year high of $2.37. The stock has a market capitalization of $12.33 million, a price-to-earnings ratio of -1.18 and a beta of 0.93.

Peraso (NASDAQ:PRSO) last issued its earnings results on Monday, May 11th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.02). The business had revenue of $0.96 million during the quarter, compared to analyst estimates of $1.15 million. Peraso had a negative net margin of 73.00% and a negative return on equity of 170.96%. On average, analysts predict that Peraso will post -0.33 earnings per share for the current year.

Institutional Trading of Peraso

An institutional investor recently raised its position in Peraso stock. Geode Capital Management LLC lifted its position in Peraso Inc. (NASDAQ:PRSO) by 71.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 69,697 shares of the company’s stock after purchasing 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 quarter. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

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.