Veritone Target of Unusually Large Options Trading (NASDAQ:VERI)

Veritone, Inc. (NASDAQ:VERI) was the recipient of some unusual options trading on Wednesday. Traders bought 26,440 call options on the stock. This is an increase of approximately 708% compared to the typical daily volume of 3,272 call options.

Veritone Stock Performance

Shares of VERI stock opened at $8.39 on Thursday. The stock’s 50-day moving average price is $3.92 and its 200 day moving average price is $2.58. Veritone has a 52-week low of $1.22 and a 52-week high of $9.42. The stock has a market capitalization of $496.44 million, a PE ratio of -10.11 and a beta of 3.23. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 89.57.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Ground Swell Capital LLC acquired a new position in shares of Veritone during the second quarter worth about $27,000. Virtu Financial LLC purchased a new stake in Veritone in the 1st quarter valued at approximately $30,000. Capital Advisors Inc. OK purchased a new stake in Veritone in the 1st quarter valued at approximately $70,000. NBZ Investment Advisors LLC purchased a new stake in Veritone in the 1st quarter valued at approximately $86,000. Finally, Skandinaviska Enskilda Banken AB publ acquired a new stake in shares of Veritone in the 1st quarter valued at approximately $102,000. 39.18% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. D. Boral Capital reaffirmed a “buy” rating on shares of Veritone in a research report on Wednesday. Weiss Ratings restated a “sell (e+)” rating on shares of Veritone in a research note on Wednesday, October 8th. Wall Street Zen upgraded Veritone from a “sell” rating to a “hold” rating in a research note on Friday, September 26th. Finally, D Boral Capital raised shares of Veritone to a “strong-buy” rating in a report on Tuesday, September 2nd. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $5.00.

About Veritone

Veritone, Inc, together with its subsidiaries, engages in the provision of artificial intelligence (AI) computing solutions and services in the United States, the United Kingdom, France, Australia, Israel, and India. It develops and operates aiWARE platform, an AI operating system, that uses machine learning algorithms or AI models designed to mimic human cognitive functions, such as perception, prediction, and problem solving and optimization, as well as enables users to transform unstructured data into structured data, and analyze and optimize data to drive business processes and insights.