Peraso (NASDAQ:PRSO) Trading Down 1.6% – Time to Sell?

Peraso Inc. (NASDAQ:PRSO) shares fell 1.6% during mid-day trading on Monday . The company traded as low as $0.9750 and last traded at $0.98. 653,195 shares were traded during mid-day trading, a decline of 79% from the average session volume of 3,156,495 shares. The stock had previously closed at $0.9961.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on PRSO. Wall Street Zen lowered Peraso from a “hold” rating to a “strong sell” rating in a research report on Saturday, May 16th. Weiss Ratings lowered Peraso from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, May 28th. Two investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $3.00.

Peraso Price Performance

The stock has a fifty day moving average price of $1.01 and a two-hundred day moving average price of $1.01.

Peraso (NASDAQ:PRSO) last issued its quarterly earnings results on Monday, May 11th. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.02). Peraso had a negative net margin of 73.00% and a negative return on equity of 170.96%. The firm had revenue of $0.96 million during the quarter, compared to the consensus estimate of $1.15 million. On average, sell-side analysts predict that Peraso Inc. will post -0.44 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Peraso

A hedge fund recently raised its stake in Peraso stock. Geode Capital Management LLC grew its position in Peraso Inc. (NASDAQ:PRSO) by 71.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 69,697 shares of the company’s stock after acquiring an additional 29,095 shares during the quarter. Geode Capital Management LLC owned approximately 0.78% of Peraso worth $61,000 as of its most recent filing with the Securities and Exchange Commission. 77.60% of the stock is currently owned by institutional investors and hedge funds.

About Peraso

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.