Veritone (NASDAQ:VERI) Shares Down 2.2%

Veritone, Inc. (NASDAQ:VERI) dropped 2.2% during trading on Friday . The stock traded as low as $2.65 and last traded at $2.71. Approximately 314,966 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 1,564,369 shares. The stock had previously closed at $2.77.

Veritone Stock Down 2.2 %

The firm’s 50-day simple moving average is $2.79 and its 200 day simple moving average is $2.95. The company has a debt-to-equity ratio of 9.02, a quick ratio of 0.87 and a current ratio of 0.87. The stock has a market capitalization of $102.39 million, a P/E ratio of -1.23 and a beta of 3.33.

Veritone (NASDAQ:VERI) last announced its quarterly earnings data on Tuesday, May 7th. The company reported ($0.24) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.01. The company had revenue of $31.64 million for the quarter, compared to analysts’ expectations of $30.70 million. Veritone had a negative return on equity of 154.87% and a negative net margin of 44.39%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of VERI. Bfsg LLC acquired a new stake in shares of Veritone during the fourth quarter worth $29,000. Benjamin F. Edwards & Company Inc. boosted its holdings in Veritone by 200.0% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 18,000 shares of the company’s stock valued at $33,000 after purchasing an additional 12,000 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new stake in Veritone in the 1st quarter valued at about $65,000. State Board of Administration of Florida Retirement System acquired a new position in shares of Veritone during the 1st quarter worth approximately $88,000. Finally, Global Retirement Partners LLC bought a new position in shares of Veritone during the first quarter worth approximately $617,000. 39.18% of the stock is owned by institutional investors.

About Veritone

Veritone, Inc, together with its subsidiaries, engages in the provision of artificial intelligence (AI) computing solutions and services in the United States, the United Kingdom, France, Australia, Israel, and India. It develops and operates aiWARE platform, an AI operating system, that uses machine learning algorithms or AI models designed to mimic human cognitive functions, such as perception, prediction, and problem solving and optimization, as well as enables users to transform unstructured data into structured data, and analyze and optimize data to drive business processes and insights.