Peraso (NASDAQ:PRSO) Cut to Sell at Wall Street Zen

Peraso (NASDAQ:PRSO) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Saturday.

PRSO has been the topic of a number of other research reports. Williams Trading set a $3.00 target price on Peraso in a research report on Friday, December 5th. Benchmark reissued a “buy” rating and set a $3.00 target price on shares of Peraso in a report on Friday, December 5th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Peraso in a research note on Monday, December 29th. Two equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $3.00.

Peraso Trading Up 0.8%

Peraso stock opened at $1.21 on Friday. The firm has a market capitalization of $10.87 million, a P/E ratio of -1.70 and a beta of 1.10. The business has a 50-day moving average of $1.05 and a 200-day moving average of $1.11. Peraso has a 1 year low of $0.52 and a 1 year high of $2.37.

Peraso (NASDAQ:PRSO) last posted its earnings results on Monday, March 16th. The company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.03. Peraso had a negative return on equity of 140.94% and a negative net margin of 38.99%.The firm had revenue of $2.87 million for the quarter, compared to analyst estimates of $3.21 million. Research analysts anticipate that Peraso will post -3.11 EPS for the current fiscal year.

Institutional Investors Weigh In On Peraso

A hedge fund recently raised its stake in Peraso stock. Geode Capital Management LLC lifted its stake in shares of Peraso Inc. (NASDAQ:PRSO) by 71.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,697 shares of the company’s stock after purchasing an additional 29,095 shares during the quarter. Geode Capital Management LLC owned about 0.78% of Peraso worth $61,000 at the end of the most recent reporting period. 77.60% of the stock is currently owned by institutional investors.

About Peraso

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.