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

Key Points

• Veritone, Inc. experienced a 64.1% increase in short interest in July, reaching a total of 6,040,000 shares, which constitutes approximately 12.7% of the company's shares sold short.
• Institutional ownership stands at 39.18% of Veritone's stock, with multiple hedge funds recently acquiring new positions in the company.
• Veritone's stock price saw analysts set varying price targets, with UBS lowering their target from $3.50 to $2.00 while D. Boral Capital reaffirmed a "buy" rating with a target of $4.00.

Veritone, Inc. (NASDAQ:VERI - Get Free Report) was the recipient of a large increase in short interest in July. As of July 31st, there was short interest totaling 6,040,000 shares, anincreaseof64.1% from the July 15th total of 3,680,000 shares. Approximately12.7% of the company's stock are sold short. Based on an average daily volume of 1,810,000 shares, the short-interest ratio is currently 3.3 days. Based on an average daily volume of 1,810,000 shares, the short-interest ratio is currently 3.3 days. Approximately12.7% of the company's stock are sold short.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on VERI. D. Boral Capital reiterated a "buy" rating and set a $4.00 target price on shares of Veritone in a report on Friday, August 8th. UBS Group lowered their target price on Veritone from $3.50 to $2.00 and set a "neutral" rating for the company in a report on Friday, May 9th. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Veritone has an average rating of "Moderate Buy" and an average price target of $4.50.

Hedge Funds Weigh In On Veritone

Several hedge funds have recently made changes to their positions in VERI. LPL Financial LLC bought a new position in shares of Veritone during the 4th quarter worth approximately $48,000. Geode Capital Management LLC raised its stake in shares of Veritone by 3.7% during the 4th quarter. Geode Capital Management LLC now owns 377,056 shares of the company's stock worth $1,237,000 after purchasing an additional 13,397 shares in the last quarter. Barclays PLC raised its stake in shares of Veritone by 514.0% during the 4th quarter. Barclays PLC now owns 37,536 shares of the company's stock worth $124,000 after purchasing an additional 31,423 shares in the last quarter. XTX Topco Ltd raised its stake in shares of Veritone by 47.1% during the 4th quarter. XTX Topco Ltd now owns 54,264 shares of the company's stock worth $178,000 after purchasing an additional 17,383 shares in the last quarter. Finally, Northern Trust Corp raised its stake in shares of Veritone by 24.2% during the 4th quarter. Northern Trust Corp now owns 146,105 shares of the company's stock worth $479,000 after purchasing an additional 28,510 shares in the last quarter. 39.18% of the stock is owned by institutional investors.

Veritone Stock Up 3.5%

Shares of VERI traded up $0.08 during mid-day trading on Friday, hitting $2.36. 1,679,291 shares of the company's stock were exchanged, compared to its average volume of 2,288,593. The company has a market cap of $130.44 million, a PE ratio of -2.84 and a beta of 2.81. Veritone has a 52 week low of $1.22 and a 52 week high of $5.64. The company has a 50-day simple moving average of $2.00 and a 200 day simple moving average of $2.19. The company has a debt-to-equity ratio of 89.57, a current ratio of 0.89 and a quick ratio of 0.89.

About Veritone

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.