Peraso (NASDAQ:PRSO) Stock Falls 4.4% – Time to Sell?

Peraso Inc. (NASDAQ:PRSO)’s stock price traded down 4.4% on Monday. The company traded as low as $0.4505 and last traded at $0.4527. 161,363 shares changed hands during mid-day trading, a decline of 11% from the average session volume of 181,446 shares. The stock had previously closed at $0.4733.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PRSO. LADENBURG THALM/SH SH upped their price objective on shares of Peraso from $2.75 to $3.25 and gave the company a “buy” rating in a research note on Monday, August 17th. Wall Street Zen raised Peraso from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 15th. Finally, Weiss Ratings cut Peraso from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, September 25th. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $3.08.

Peraso Stock Down 0.1%

The business’s fifty day moving average is $0.58 and its 200-day moving average is $0.82. The stock has a market capitalization of $6.83 million, a PE ratio of -0.66 and a beta of 0.96.

Peraso (NASDAQ:PRSO) last posted its quarterly earnings results on Tuesday, August 11th. The company reported ($0.15) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.03. Peraso had a negative net margin of 85.63% and a negative return on equity of 223.38%. The company had revenue of $1.31 million for the quarter, compared to the consensus estimate of $1.25 million. As a group, sell-side analysts anticipate that Peraso Inc. will post -0.68 EPS for the current fiscal year.

About Peraso

Peraso Inc is a fabless semiconductor company that develops millimeter-wave (mmWave) technology for high-speed wireless communications. Its products are designed to support applications requiring high bandwidth and low latency, including 5G networks, fixed wireless access, private networks and other broadband connectivity solutions.

The company’s product portfolio includes mmWave radio-frequency integrated circuits, antenna modules and phased-array solutions. These components are intended to help equipment manufacturers develop wireless systems capable of transmitting data over short- and medium-range links, including point-to-point and point-to-multipoint connections.

Peraso is headquartered in Toronto, Canada, and serves customers and technology partners in global wireless and networking markets.