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

Peraso Inc. (NASDAQ:PRSO) was the target of a large growth in short interest in the month of February. As of February 13th, there was short interest totaling 240,032 shares, a growth of 58.7% from the January 29th total of 151,203 shares. Currently, 2.8% of the company’s shares are short sold. Based on an average trading volume of 303,863 shares, the short-interest ratio is currently 0.8 days. Based on an average trading volume of 303,863 shares, the short-interest ratio is currently 0.8 days. Currently, 2.8% of the company’s shares are short sold.

Institutional Trading of Peraso

An institutional investor recently raised its position in Peraso stock. Geode Capital Management LLC lifted its stake in shares of Peraso Inc. (NASDAQ:PRSO) by 71.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 69,697 shares of the company’s stock after buying an additional 29,095 shares during the quarter. Geode Capital Management LLC owned about 0.78% of Peraso worth $61,000 at the end of the most recent reporting period. 77.60% of the stock is owned by institutional investors and hedge funds.

Peraso Stock Performance

Shares of NASDAQ:PRSO traded down $0.00 on Friday, hitting $0.85. 155,029 shares of the company’s stock were exchanged, compared to its average volume of 242,462. Peraso has a 1-year low of $0.52 and a 1-year high of $2.37. The company has a market capitalization of $7.59 million, a PE ratio of -0.89 and a beta of 1.17. The firm’s 50-day moving average is $0.94 and its 200 day moving average is $1.07.

Wall Street Analyst Weigh In

A number of brokerages recently commented on PRSO. Weiss Ratings restated a “sell (e+)” rating on shares of Peraso in a report on Monday, December 29th. Williams Trading set a $3.00 price target on shares of Peraso in a research note on Friday, December 5th. Wall Street Zen upgraded Peraso from a “sell” rating to a “hold” rating in a report on Saturday, January 3rd. Finally, Benchmark restated a “buy” rating and set a $3.00 price target on shares of Peraso in a report on Friday, December 5th. Two investment analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $3.00.

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.