Peraso (NASDAQ:PRSO) Shares Up 6.2% – Time to Buy?

Peraso Inc. (NASDAQ:PRSO)’s share price was up 6.2% during trading on Wednesday . The company traded as high as $0.80 and last traded at $0.80. Approximately 524,665 shares were traded during mid-day trading, an increase of 10% from the average daily volume of 478,922 shares. The stock had previously closed at $0.7530.

Wall Street Analysts Forecast Growth

PRSO has been the subject of a number of analyst reports. Wall Street Zen lowered Peraso from a “hold” rating to a “strong sell” rating in a research note on Saturday, May 16th. Weiss Ratings lowered shares of Peraso from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, July 2nd. Two investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $3.00.

Peraso Trading Up 6.2%

The business’s 50 day moving average price is $0.96 and its two-hundred day moving average price is $1.00. The stock has a market cap of $11.79 million, a P/E ratio of -0.96 and a beta of 1.00.

Peraso (NASDAQ:PRSO) last issued its quarterly earnings data on Monday, May 11th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.02). Peraso had a negative return on equity of 170.96% and a negative net margin of 73.00%.The company had revenue of $0.96 million during the quarter, compared to analysts’ expectations of $1.15 million. As a group, analysts expect that Peraso Inc. will post -0.66 earnings per share for the current year.

Institutional Trading of Peraso

A hedge fund recently raised its position in Peraso stock. Geode Capital Management LLC boosted its holdings in shares of Peraso Inc. (NASDAQ:PRSO) by 71.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 at the end of the most recent reporting period. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

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.