Peraso (NASDAQ:PRSO) Downgraded by Wall Street Zen to “Strong Sell”

Wall Street Zen lowered shares of Peraso (NASDAQ:PRSO) from a hold rating to a strong sell rating in a research note issued to investors on Saturday.

Separately, Weiss Ratings raised Peraso from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, May 11th. Two 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.com, the stock currently has a consensus rating of “Buy” and an average target price of $3.00.

Peraso Trading Down 2.2%

Shares of Peraso stock opened at $0.98 on Friday. Peraso has a twelve month low of $0.77 and a twelve month high of $2.37. The stock has a market capitalization of $12.33 million, a P/E ratio of -1.18 and a beta of 0.93. The business’s fifty day moving average price is $1.11 and its 200 day moving average price is $1.03.

Peraso (NASDAQ:PRSO) last issued its earnings results on Monday, May 11th. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.02). Peraso had a negative net margin of 73.00% and a negative return on equity of 180.82%. The firm had revenue of $0.96 million during the quarter, compared to analyst estimates of $1.15 million. As a group, sell-side analysts predict that Peraso will post -0.33 EPS for the current year.

Institutional Trading of Peraso

An institutional investor recently raised its position in Peraso stock. Geode Capital Management LLC raised its stake in Peraso Inc. (NASDAQ:PRSO) by 71.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 69,697 shares of the company’s stock after acquiring an additional 29,095 shares during the period. Geode Capital Management LLC owned 0.78% of Peraso worth $61,000 as of its most recent SEC filing. Institutional investors and hedge funds own 77.60% of the company’s stock.

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.