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

Peraso Inc. (NASDAQ:PRSO) was the recipient of a large decline in short interest during the month of December. As of December 31st, there was short interest totaling 234,044 shares, a decline of 18.6% from the December 15th total of 287,584 shares. Based on an average daily trading volume, of 287,625 shares, the short-interest ratio is currently 0.8 days. Approximately 2.7% of the shares of the stock are short sold. Approximately 2.7% of the shares of the stock are short sold. Based on an average daily trading volume, of 287,625 shares, the short-interest ratio is currently 0.8 days.

Wall Street Analyst Weigh In

PRSO has been the subject of a number of analyst reports. LADENBURG THALM/SH SH raised shares of Peraso to a “strong-buy” rating in a report on Thursday, October 2nd. Williams Trading set a $3.00 price objective on Peraso in a research report on Friday, December 5th. Benchmark reaffirmed a “buy” rating and issued a $3.00 price objective on shares of Peraso in a research note on Friday, December 5th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Peraso in a report on Monday, December 29th. Finally, Wall Street Zen raised Peraso from a “sell” rating to a “hold” rating in a research report on Saturday, January 3rd. Two research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $3.00.

Peraso Price Performance

Peraso stock opened at $1.21 on Wednesday. Peraso has a 1-year low of $0.52 and a 1-year high of $2.37. The company’s 50-day moving average is $0.96 and its 200 day moving average is $1.08. The firm has a market capitalization of $10.87 million, a P/E ratio of -1.27 and a beta of 1.09.

Peraso (NASDAQ:PRSO) last released its earnings results on Monday, November 10th. The company reported ($0.15) EPS for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.10. Peraso had a negative return on equity of 125.68% and a negative net margin of 39.00%.The firm had revenue of $3.23 million for the quarter, compared to analysts’ expectations of $3.03 million. Research analysts anticipate that Peraso will post -3.11 earnings per share for the current fiscal year.

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.