Veritone Inc (NASDAQ:VERI) Sees Significant Increase in Short Interest

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Veritone Inc (NASDAQ:VERI) was the target of a large growth in short interest in October. As of October 31st, there was short interest totalling 3,080,000 shares, a growth of 18.9% from the September 30th total of 2,590,000 shares. Approximately 18.5% of the company’s stock are short sold. Based on an average trading volume of 474,300 shares, the short-interest ratio is currently 6.5 days.

Large investors have recently added to or reduced their stakes in the stock. Jane Street Group LLC purchased a new position in Veritone during the 2nd quarter worth approximately $131,000. Parametric Portfolio Associates LLC grew its stake in Veritone by 76.1% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 23,008 shares of the company’s stock worth $192,000 after buying an additional 9,942 shares during the last quarter. Paloma Partners Management Co purchased a new position in Veritone during the 2nd quarter worth approximately $319,000. Creative Planning purchased a new position in Veritone during the 3rd quarter worth approximately $361,000. Finally, Citadel Advisors LLC purchased a new position in Veritone during the 2nd quarter worth approximately $366,000. Hedge funds and other institutional investors own 18.46% of the company’s stock.

NASDAQ:VERI opened at $2.69 on Thursday. The stock’s 50 day moving average price is $3.07 and its 200 day moving average price is $5.84. The company has a market capitalization of $59.34 million, a PE ratio of -0.77 and a beta of 1.37. Veritone has a 52-week low of $2.43 and a 52-week high of $9.98.

Veritone (NASDAQ:VERI) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($0.43) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.78) by $0.35. The firm had revenue of $12.81 million for the quarter, compared to the consensus estimate of $12.75 million. Veritone had a negative return on equity of 100.93% and a negative net margin of 134.96%. The firm’s quarterly revenue was up 69.7% compared to the same quarter last year. During the same quarter last year, the business posted ($0.46) EPS. Equities research analysts predict that Veritone will post -3.16 EPS for the current fiscal year.

Several equities research analysts have recently weighed in on VERI shares. JMP Securities cut their target price on Veritone to $7.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. Zacks Investment Research lowered Veritone from a “buy” rating to a “hold” rating in a research report on Saturday, October 12th. Northland Securities reissued a “buy” rating and set a $10.00 target price on shares of Veritone in a research report on Thursday, November 7th. Craig Hallum lowered Veritone from a “buy” rating to a “hold” rating and cut their target price for the stock from $14.00 to $3.00 in a research report on Thursday, November 7th. Finally, ValuEngine raised Veritone from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 1st. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. Veritone presently has a consensus rating of “Buy” and an average target price of $6.44.

Veritone Company Profile

Veritone, Inc provides artificial intelligence (AI) and computing solutions in the United States and the United Kingdom. It develops and operates aiWARE platform, an AI operating system that unlocks the power of cognitive computing to transform audio, video, and other unstructured data, as well as analyzes it in conjunction with structured data in an orchestrated and automated manner to generate actionable intelligence.

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