Veritone, Inc. (NASDAQ:VERI) Short Interest Up 27.6% in December

Veritone, Inc. (NASDAQ:VERI) was the recipient of a large growth in short interest in December. As of December 15th, there was short interest totaling 7,603,909 shares, a growth of 27.6% from the November 30th total of 5,959,687 shares. Based on an average daily volume of 3,738,096 shares, the days-to-cover ratio is presently 2.0 days. Currently, 11.3% of the shares of the stock are sold short. Currently, 11.3% of the shares of the stock are sold short. Based on an average daily volume of 3,738,096 shares, the days-to-cover ratio is presently 2.0 days.

Veritone Price Performance

Shares of Veritone stock opened at $4.61 on Wednesday. The firm has a market cap of $423.23 million, a PE ratio of -6.88 and a beta of 2.05. Veritone has a 12-month low of $1.22 and a 12-month high of $9.42. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 6.77. The company’s fifty day simple moving average is $5.27 and its two-hundred day simple moving average is $3.90.

Veritone (NASDAQ:VERI) last released its quarterly earnings results on Thursday, November 6th. The company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.02. The business had revenue of $29.12 million during the quarter, compared to analyst estimates of $28.69 million. Veritone had a negative return on equity of 361.72% and a negative net margin of 42.60%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. D. Boral Capital reissued a “buy” rating and set a $23.00 price objective on shares of Veritone in a report on Tuesday, December 9th. Wall Street Zen upgraded shares of Veritone from a “sell” rating to a “hold” rating in a research report on Sunday, October 26th. D Boral Capital raised shares of Veritone to a “strong-buy” rating in a research note on Tuesday, September 2nd. HC Wainwright upped their price objective on shares of Veritone from $6.00 to $9.00 and gave the company a “buy” rating in a research note on Monday, October 20th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $10.00 target price on shares of Veritone in a report on Tuesday, December 2nd. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Veritone has a consensus rating of “Moderate Buy” and an average price target of $10.00.

Institutional Trading of Veritone

Several large investors have recently added to or reduced their stakes in VERI. Franklin Resources Inc. purchased a new stake in shares of Veritone in the 3rd quarter worth about $50,000. Sherbrooke Park Advisers LLC bought a new stake in shares of Veritone during the 3rd quarter valued at about $80,000. Jefferies Financial Group Inc. purchased a new position in shares of Veritone during the third quarter valued at about $82,000. Ground Swell Capital LLC bought a new position in Veritone in the second quarter worth about $27,000. Finally, Caitong International Asset Management Co. Ltd raised its stake in Veritone by 398.9% in the third quarter. Caitong International Asset Management Co. Ltd now owns 30,122 shares of the company’s stock worth $145,000 after buying an additional 24,084 shares in the last quarter. Institutional investors own 39.18% of the company’s stock.

About Veritone

Veritone, Inc (NASDAQ: VERI) is a technology company specializing in artificial intelligence solutions for media, legal, government and enterprise applications. Its flagship offering, aiWARE™, is a cloud-based operating system that orchestrates and automates an ecosystem of machine learning models to transform unstructured data—such as audio, video and text—into actionable intelligence. By providing a modular AI environment, Veritone enables organizations to deploy, manage and scale cognitive engines that address diverse use cases from transcription and translation to sentiment analysis and facial recognition.

Through aiWARE and its suite of purpose-built applications, the company delivers turnkey solutions for content licensing, media monitoring, eDiscovery, compliance and public safety.