Short Interest in Peraso Inc. (NASDAQ:PRSO) Expands By 102.5%

Peraso Inc. (NASDAQ:PRSO) was the target of a significant growth in short interest during the month of October. As of October 31st, there was short interest totalling 377,900 shares, a growth of 102.5% from the October 15th total of 186,600 shares. Based on an average daily trading volume, of 138,300 shares, the short-interest ratio is presently 2.7 days. Currently, 15.1% of the shares of the stock are short sold.

Peraso Stock Down 19.6 %

Peraso stock traded down $0.21 during mid-day trading on Wednesday, hitting $0.85. The company’s stock had a trading volume of 267,512 shares, compared to its average volume of 450,921. Peraso has a 1 year low of $0.85 and a 1 year high of $11.20. The company has a current ratio of 1.20, a quick ratio of 0.74 and a debt-to-equity ratio of 0.07. The stock’s fifty day moving average is $1.51 and its two-hundred day moving average is $1.44.

Peraso (NASDAQ:PRSO) last announced its earnings results on Monday, August 12th. The company reported ($1.37) earnings per share for the quarter, missing the consensus estimate of ($0.73) by ($0.64). The company had revenue of $4.24 million for the quarter, compared to analysts’ expectations of $4.20 million. Peraso had a negative return on equity of 320.39% and a negative net margin of 142.26%. Sell-side analysts expect that Peraso will post -3.28 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Benchmark dropped their target price on Peraso from $4.00 to $3.00 and set a “speculative buy” rating for the company in a report on Wednesday.

Peraso Company Profile

Peraso Inc, a fabless semiconductor company, develops, markets, and sells semiconductor devices and modules. The company's products include millimeter wavelength (mmWave) ICs, including baseband IC, various mmWave radio frequency, integrated circuits, as well as associated antenna technology; and mmWave antenna modules.