Peraso (NASDAQ:PRSO) Trading Down 2.2% – Here’s What Happened

Peraso Inc. (NASDAQ:PRSO)’s share price dropped 2.2% during trading on Tuesday . The company traded as low as $0.84 and last traded at $0.85. Approximately 67,538 shares changed hands during mid-day trading, a decline of 21% from the average daily volume of 85,506 shares. The stock had previously closed at $0.87.

Wall Street Analyst Weigh In

Several research firms recently commented on PRSO. Benchmark reiterated a “buy” rating and issued a $3.00 price target on shares of Peraso in a research report on Monday, June 23rd. Wall Street Zen raised shares of Peraso to a “hold” rating in a report on Friday, June 27th. One analyst has rated the stock with a Buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $3.00.

Peraso Stock Down 2.2%

The company has a current ratio of 2.03, a quick ratio of 1.48 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $5.30 million, a price-to-earnings ratio of -0.48 and a beta of 0.94. The firm’s 50 day simple moving average is $0.95 and its 200-day simple moving average is $0.90.

Peraso Company Profile

Peraso Inc, a fabless semiconductor company, develops, markets, and sells semiconductor devices and modules. The company's products include millimeter wavelength (mmWave) ICs, including baseband IC, various mmWave radio frequency, integrated circuits, as well as associated antenna technology; and mmWave antenna modules.