Peraso (NASDAQ:PRSO) Lowered to “Sell” Rating by Wall Street Zen

Wall Street Zen cut shares of Peraso (NASDAQ:PRSO) from a hold rating to a sell rating in a research note published on Saturday.

A number of other research firms have also weighed in on PRSO. Williams Trading set a $3.00 target price on Peraso in a research note on Friday, December 5th. Weiss Ratings reissued a “sell (e+)” rating on shares of Peraso in a research note on Monday, December 29th. Finally, Benchmark restated a “buy” rating and issued a $3.00 price target on shares of Peraso in a report on Friday, December 5th. Two analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $3.00.

Peraso Stock Performance

PRSO opened at $1.21 on Friday. The stock’s 50 day moving average price is $1.05 and its 200-day moving average price is $1.12. Peraso has a one year low of $0.52 and a one year high of $2.37. The stock has a market cap of $10.87 million, a price-to-earnings ratio of -1.70 and a beta of 1.10.

Peraso (NASDAQ:PRSO) last issued its quarterly earnings results on Monday, March 16th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.03. Peraso had a negative return on equity of 140.94% and a negative net margin of 38.99%.The firm had revenue of $2.87 million during the quarter, compared to analyst estimates of $3.21 million. As a group, analysts predict that Peraso will post -3.11 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 lifted its position in shares of Peraso Inc. (NASDAQ:PRSO) by 71.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 69,697 shares of the company’s stock after buying an additional 29,095 shares during the quarter. Geode Capital Management LLC owned approximately 0.78% of Peraso worth $61,000 at the end of the most recent quarter. 77.60% of the stock is owned by hedge funds and other institutional investors.

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.