Veritone, Inc. (NASDAQ:VERI) Short Interest Update

Key Points

• Short interest in Veritone, Inc. (NASDAQ:VERI) surged by 6,223.0% in July, reaching a total of approximately 3.68 million shares compared to just 58,200 shares at the end of June.
• Multiple hedge funds have recently adjusted their positions in Veritone, with a collective ownership by institutional investors at 39.18% of the stock.
• Despite a decrease of 4.3% in VERI stock price on a recent trading day, analysts have mixed opinions, with UBS lowering its price target to $2.00 while D. Boral Capital maintains a "buy" rating with a target of $4.00.

Veritone, Inc. (NASDAQ:VERI - Get Free Report) was the recipient of a large growth in short interest in the month of July. As of July 15th, there was short interest totaling 3,680,000 shares, agrowthof6,223.0% from the June 30th total of 58,200 shares. Based on an average daily trading volume, of 1,440,000 shares, the short-interest ratio is currently 2.6 days. Based on an average daily trading volume, of 1,440,000 shares, the short-interest ratio is currently 2.6 days.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. UBS Group dropped their target price on shares of Veritone from $3.50 to $2.00 and set a "neutral" rating on the stock in a report on Friday, May 9th. D. Boral Capital reiterated a "buy" rating and issued a $4.00 price objective on shares of Veritone in a report on Tuesday, July 15th.

Veritone Price Performance

VERI traded down $0.04 on Tuesday, hitting $2.45. 1,540,890 shares of the stock were exchanged, compared to its average volume of 1,077,886. The firm has a market capitalization of $116.26 million, a price-to-earnings ratio of -2.79 and a beta of 2.81. The company has a debt-to-equity ratio of 7.50, a current ratio of 0.99 and a quick ratio of 0.99. Veritone has a 12 month low of $1.22 and a 12 month high of $5.64. The business has a 50-day moving average of $1.72 and a two-hundred day moving average of $2.22.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Barclays PLC lifted its holdings in shares of Veritone by 514.0% in the fourth quarter. Barclays PLC now owns 37,536 shares of the company's stock worth $124,000 after acquiring an additional 31,423 shares during the last quarter. LPL Financial LLC bought a new position in shares of Veritone in the fourth quarter worth about $48,000. Squarepoint Ops LLC increased its stake in shares of Veritone by 39.6% in the fourth quarter. Squarepoint Ops LLC now owns 43,850 shares of the company's stock valued at $144,000 after buying an additional 12,435 shares during the period. Northern Trust Corp increased its stake in shares of Veritone by 24.2% in the fourth quarter. Northern Trust Corp now owns 146,105 shares of the company's stock valued at $479,000 after buying an additional 28,510 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of Veritone by 3.7% in the fourth quarter. Geode Capital Management LLC now owns 377,056 shares of the company's stock valued at $1,237,000 after buying an additional 13,397 shares during the period. Institutional investors own 39.18% of the company's stock.

Veritone Company Profile

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.