Veritone Inc (NASDAQ:VERI) shares were up 6.2% on Wednesday . The company traded as high as $8.72 and last traded at $9.14. Approximately 8,709 shares were traded during mid-day trading, a decline of 99% from the average daily volume of 670,235 shares. The stock had previously closed at $8.61.

A number of research analysts have weighed in on VERI shares. Zacks Investment Research lowered Veritone from a “hold” rating to a “sell” rating in a report on Thursday, May 9th. JMP Securities started coverage on Veritone in a report on Wednesday, April 3rd. They issued an “outperform” rating and a $10.00 price objective on the stock. Finally, Northland Securities restated a “buy” rating and issued a $20.00 price objective on shares of Veritone in a report on Thursday, May 9th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $12.75.

The firm has a market capitalization of $161.60 million, a P/E ratio of -2.74 and a beta of 2.81.

Veritone (NASDAQ:VERI) last posted its quarterly earnings results on Wednesday, May 8th. The company reported ($0.48) EPS for the quarter, topping the consensus estimate of ($0.89) by $0.41. Veritone had a negative return on equity of 86.72% and a negative net margin of 185.03%. The business had revenue of $12.13 million for the quarter, compared to analyst estimates of $11.58 million. During the same quarter in the previous year, the firm earned ($0.81) EPS. The company’s quarterly revenue was up 176.3% compared to the same quarter last year. On average, equities research analysts forecast that Veritone Inc will post -3.27 earnings per share for the current year.

In related news, insider Ryan Steelberg purchased 30,376 shares of Veritone stock in a transaction dated Friday, May 17th. The shares were acquired at an average price of $8.20 per share, for a total transaction of $249,083.20. Following the acquisition, the insider now directly owns 30,671 shares in the company, valued at $251,502.20. The purchase was disclosed in a filing with the SEC, which is available through this link. 37.00% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Barclays PLC raised its holdings in shares of Veritone by 2,915.0% during the 4th quarter. Barclays PLC now owns 7,447 shares of the company’s stock worth $28,000 after acquiring an additional 7,200 shares during the period. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of Veritone during the 4th quarter worth about $52,000. Parametric Portfolio Associates LLC acquired a new stake in shares of Veritone during the 1st quarter worth about $68,000. NJ State Employees Deferred Compensation Plan acquired a new stake in shares of Veritone during the 4th quarter worth about $76,000. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Veritone by 49.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 22,863 shares of the company’s stock worth $119,000 after purchasing an additional 7,563 shares during the last quarter. Institutional investors and hedge funds own 22.35% of the company’s stock.

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About Veritone (NASDAQ:VERI)

Veritone, Inc provides artificial intelligence (AI) and computing solutions in the United States and the United Kingdom. It develops and operates aiWARE platform, an AI operating system that unlocks the power of cognitive computing to transform audio, video, and other unstructured data, as well as analyzes it in conjunction with structured data in an orchestrated and automated manner to generate actionable intelligence.

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