Viant Technology Inc. (NASDAQ:DSP) Sees Large Growth in Short Interest

Viant Technology Inc. (NASDAQ:DSP) saw a significant growth in short interest during the month of August. As of August 31st, there was short interest totalling 653,500 shares, a growth of 10.8% from the August 15th total of 589,800 shares. Based on an average trading volume of 118,700 shares, the days-to-cover ratio is currently 5.5 days. Currently, 4.6% of the shares of the company are sold short.

Viant Technology Price Performance

Shares of DSP traded up $0.15 during mid-day trading on Wednesday, hitting $10.77. The stock had a trading volume of 47,634 shares, compared to its average volume of 128,948. Viant Technology has a 52 week low of $4.98 and a 52 week high of $12.36. The business has a fifty day moving average price of $10.67 and a 200-day moving average price of $9.97. The firm has a market cap of $683.84 million, a P/E ratio of -88.83 and a beta of 0.74.

Viant Technology (NASDAQ:DSP) last announced its quarterly earnings data on Monday, August 12th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.10). The firm had revenue of $41.56 million during the quarter, compared to the consensus estimate of $41.10 million. Viant Technology had a negative net margin of 0.33% and a negative return on equity of 7.39%. As a group, research analysts expect that Viant Technology will post -0.37 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Canaccord Genuity Group reiterated a “hold” rating and set a $11.00 target price on shares of Viant Technology in a research note on Tuesday, August 13th. Needham & Company LLC restated a “buy” rating and set a $12.00 price objective on shares of Viant Technology in a report on Tuesday, August 13th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $11.80.

Institutional Trading of Viant Technology

Institutional investors have recently modified their holdings of the business. Quadrature Capital Ltd boosted its stake in Viant Technology by 39.0% in the 1st quarter. Quadrature Capital Ltd now owns 73,684 shares of the company’s stock worth $783,000 after purchasing an additional 20,668 shares during the period. ClariVest Asset Management LLC bought a new position in shares of Viant Technology in the second quarter valued at approximately $1,387,000. Acadian Asset Management LLC grew its stake in Viant Technology by 659.4% during the second quarter. Acadian Asset Management LLC now owns 142,384 shares of the company’s stock valued at $1,403,000 after acquiring an additional 123,635 shares in the last quarter. GSA Capital Partners LLP increased its holdings in Viant Technology by 4.4% during the 1st quarter. GSA Capital Partners LLP now owns 40,430 shares of the company’s stock worth $431,000 after acquiring an additional 1,699 shares during the period. Finally, Ashton Thomas Private Wealth LLC bought a new stake in Viant Technology during the 2nd quarter worth approximately $84,000. 11.38% of the stock is currently owned by hedge funds and other institutional investors.

About Viant Technology

Viant Technology Inc operates as an advertising technology company. It provides Household ID, a people-based innovation that combines digital and personal identifiers into a normalized household profile; AI Bid Optimizer, solution that uses AI to analyze historical bid opportunities to predict the lowest media cost for desired advertisement; and Viant Data Platform, which offers marketers control over their own data with actionable insights into their marketing initiatives within a single platform.