Peraso Inc. (NASDAQ:PRSO) Sees Large Drop in Short Interest

Peraso Inc. (NASDAQ:PRSO) was the recipient of a significant decrease in short interest during the month of February. As of February 27th, there was short interest totaling 145,178 shares, a decrease of 39.5% from the February 12th total of 240,032 shares. Currently, 1.7% of the company’s stock are short sold. Based on an average daily trading volume, of 148,814 shares, the days-to-cover ratio is presently 1.0 days. Based on an average daily trading volume, of 148,814 shares, the days-to-cover ratio is presently 1.0 days. Currently, 1.7% of the company’s stock are short sold.

Analyst Ratings Changes

A number of analysts have weighed in on PRSO shares. Weiss Ratings restated a “sell (e+)” rating on shares of Peraso in a research note on Monday, December 29th. Benchmark reiterated a “buy” rating and issued a $3.00 price objective on shares of Peraso in a report on Friday, December 5th. Williams Trading set a $3.00 target price on Peraso in a research report on Friday, December 5th. Finally, Wall Street Zen upgraded Peraso from a “sell” rating to a “hold” rating in a research note on Saturday, January 3rd. 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 company. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $3.00.

Peraso Stock Up 1.4%

NASDAQ:PRSO traded up $0.02 during mid-day trading on Friday, reaching $1.49. 1,833,029 shares of the stock were exchanged, compared to its average volume of 20,778,524. The stock has a market capitalization of $13.38 million, a P/E ratio of -1.57 and a beta of 1.10. Peraso has a 1 year low of $0.52 and a 1 year high of $2.37. The company has a 50 day simple moving average of $1.02 and a 200-day simple moving average of $1.10.

Institutional Trading of Peraso

An institutional investor recently raised its position in Peraso stock. Geode Capital Management LLC raised its stake in shares of Peraso Inc. (NASDAQ:PRSO) by 71.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. 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 approximately 0.78% of Peraso worth $61,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 77.60% of the company’s stock.

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.