Peraso (NASDAQ:PRSO) Stock Rating Upgraded by Wall Street Zen

Peraso (NASDAQ:PRSO) was upgraded by stock analysts at Wall Street Zen from a “strong sell” rating to a “sell” rating in a research report issued on Saturday.

Separately, Weiss Ratings lowered Peraso from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, August 7th. Two research 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 company’s stock. According to data from MarketBeat, Peraso has a consensus rating of “Buy” and a consensus target price of $3.00.

Peraso Stock Performance

Peraso stock opened at $0.68 on Friday. Peraso has a 12-month low of $0.58 and a 12-month high of $2.37. The firm has a 50-day moving average price of $0.79 and a 200-day moving average price of $0.95. The firm has a market capitalization of $10.01 million, a PE ratio of -1.00 and a beta of 1.04.

Peraso (NASDAQ:PRSO) last issued its quarterly earnings results on Tuesday, August 11th. The company reported ($0.15) EPS for the quarter, beating the consensus estimate of ($0.18) by $0.03. Peraso had a negative net margin of 85.63% and a negative return on equity of 223.38%. The company had revenue of $1.31 million for the quarter, compared to the consensus estimate of $1.25 million. As a group, sell-side analysts predict that Peraso will post -0.66 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Peraso

A hedge fund recently raised its position in Peraso stock. Geode Capital Management LLC lifted its position in shares of Peraso Inc. (NASDAQ:PRSO) by 71.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,697 shares of the company’s stock after acquiring an additional 29,095 shares during the quarter. Geode Capital Management LLC owned 0.78% of Peraso worth $61,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 77.60% of the company’s stock.

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.