Peraso Inc. (NASDAQ:PRSO – Get Rating) was the target of a large drop in short interest in the month of December. As of December 30th, there was short interest totalling 32,800 shares, a drop of 50.8% from the December 15th total of 66,600 shares. Based on an average daily volume of 40,400 shares, the short-interest ratio is currently 0.8 days. Approximately 0.3% of the company's stock are short sold.
Institutional Investors Weigh In On Peraso
A hedge fund recently raised its stake in Peraso stock. Renaissance Technologies LLC grew its position in Peraso Inc. (NASDAQ:PRSO – Get Rating) by 60.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 296,200 shares of the company's stock after purchasing an additional 112,065 shares during the period. Renaissance Technologies LLC owned approximately 1.37% of Peraso worth $658,000 as of its most recent SEC filing. Institutional investors and hedge funds own 3.73% of the company's stock.
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Analyst Upgrades and Downgrades
Separately, Benchmark reiterated a "speculative buy" rating and issued a $2.50 target price on shares of Peraso in a research note on Monday, December 19th.
Peraso Price Performance
NASDAQ PRSO traded up $0.09 on Wednesday, hitting $0.89. The company had a trading volume of 505 shares, compared to its average volume of 20,521. Peraso has a 12-month low of $0.71 and a 12-month high of $3.59. The company has a market capitalization of $19.47 million, a PE ratio of -1.41 and a beta of 2.07. The company's fifty day moving average price is $1.03 and its 200-day moving average price is $1.63.
Peraso (NASDAQ:PRSO – Get Rating) last posted its earnings results on Monday, November 14th. The company reported ($0.17) EPS for the quarter, beating analysts' consensus estimates of ($0.28) by $0.11. The company had revenue of $3.29 million for the quarter, compared to analysts' expectations of $4.40 million. Peraso had a negative net margin of 119.18% and a negative return on equity of 61.31%. On average, sell-side analysts anticipate that Peraso will post -1.05 EPS for the current year.
About Peraso
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Peraso Inc operates as a fabless semiconductor company, develops, markets, and sells semiconductor devices and modules. It focuses on development of millimeter wavelength (mmWave) for the 60 gigahertz, spectrum, and for 5G cellular networks. The company's products include mmWave ICs, including baseband IC, various mmWave radio frequency, integrated circuits, as well as associated antenna technology; and mmWave modules.
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