Peraso Inc. (NASDAQ:PRSO) Sees Significant Growth in Short Interest

Peraso Inc. (NASDAQ:PRSO) saw a significant growth in short interest in June. As of June 30th, there was short interest totaling 683,574 shares, a growth of 101.1% from the June 15th total of 339,851 shares. Based on an average daily volume of 484,963 shares, the short-interest ratio is currently 1.4 days. Approximately 4.8% of the shares of the stock are short sold.

Peraso Trading Up 2.9%

Shares of Peraso stock traded up $0.02 on Wednesday, reaching $0.78. 291,707 shares of the company were exchanged, compared to its average volume of 4,363,312. Peraso has a one year low of $0.73 and a one year high of $2.37. The company has a market capitalization of $11.53 million, a price-to-earnings ratio of -0.94 and a beta of 1.00. The company has a 50-day moving average of $0.95 and a 200 day moving average of $0.99.

Peraso (NASDAQ:PRSO) last posted its quarterly 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 for the quarter, compared to the consensus estimate of $1.15 million. Peraso had a negative return on equity of 170.96% and a negative net margin of 73.00%. Analysts predict that Peraso will post -0.66 earnings per share for the current year.

Wall Street Analyst Weigh In

PRSO has been the topic of a number of research reports. Weiss Ratings downgraded shares of Peraso from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, July 2nd. Wall Street Zen cut shares of Peraso from a “hold” rating to a “strong sell” rating in a research report on Saturday, May 16th. Two 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 stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $3.00.

Institutional Trading of Peraso

A hedge fund recently raised its position in Peraso stock. Geode Capital Management LLC grew its position in Peraso Inc. (NASDAQ:PRSO) by 71.7% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 69,697 shares of the company’s stock after acquiring an additional 29,095 shares during the period. Geode Capital Management LLC owned 0.78% of Peraso worth $61,000 as of its most recent filing with the SEC. Hedge funds and other 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.