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

Peraso Inc. (NASDAQ:PRSO) was the target of a significant growth in short interest during the month of February. As of February 13th, there was short interest totaling 240,032 shares, a growth of 58.7% from the January 29th total of 151,203 shares. Based on an average trading volume of 303,863 shares, the days-to-cover ratio is presently 0.8 days. Approximately 2.8% of the shares of the stock are sold short. Approximately 2.8% of the shares of the stock are sold short. Based on an average trading volume of 303,863 shares, the days-to-cover ratio is presently 0.8 days.

Peraso Price Performance

Shares of PRSO stock traded down $0.00 during trading on Friday, hitting $0.85. 155,029 shares of the stock traded hands, compared to its average volume of 242,462. Peraso has a 52-week low of $0.52 and a 52-week high of $2.37. The firm has a market capitalization of $7.59 million, a P/E ratio of -0.89 and a beta of 1.17. The firm’s fifty day moving average price is $0.94 and its 200-day moving average price is $1.07.

Institutional Trading of Peraso

A hedge fund recently raised its stake in Peraso stock. Geode Capital Management LLC raised its stake in Peraso Inc. (NASDAQ:PRSO) by 71.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 69,697 shares of the company’s stock after buying 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 quarter. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on PRSO. Benchmark reiterated a “buy” rating and set a $3.00 price target on shares of Peraso in a research report on Friday, December 5th. Wall Street Zen raised shares of Peraso from a “sell” rating to a “hold” rating in a report on Saturday, January 3rd. Williams Trading set a $3.00 target price on shares of Peraso in a research report on Friday, December 5th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Peraso in a research report 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 given a Sell rating to the company. According to data from MarketBeat, Peraso currently has a consensus rating of “Buy” and a consensus price target of $3.00.

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.