Veritone, Inc. (NASDAQ:VERI) Short Interest Up 64.1% in July

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 significant growth in short interest in the month of July. As of July 31st, there was short interest totaling 6,040,000 shares, agrowthof64.1% from the July 15th total of 3,680,000 shares. Based on an average daily trading volume, of 1,810,000 shares, the days-to-cover ratio is presently 3.3 days. Currently,12.7% of the company's shares are short sold. Currently,12.7% of the company's shares are short sold. Based on an average daily trading volume, of 1,810,000 shares, the days-to-cover ratio is presently 3.3 days.

Veritone Stock Down 7.0%

Shares of NASDAQ:VERI traded down $0.18 during trading on Tuesday, hitting $2.39. The company's stock had a trading volume of 1,680,421 shares, compared to its average volume of 2,670,038. The company has a debt-to-equity ratio of 89.57, a quick ratio of 0.89 and a current ratio of 0.89. Veritone has a fifty-two week low of $1.22 and a fifty-two week high of $5.64. The stock's 50-day moving average price is $1.95 and its two-hundred day moving average price is $2.20. The company has a market capitalization of $132.10 million, a PE ratio of -2.88 and a beta of 2.81.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. D. Boral Capital reiterated a "buy" rating and set a $4.00 target price on shares of Veritone in a research report on Friday, August 8th. UBS Group cut their price objective on Veritone from $3.50 to $2.00 and set a "neutral" rating on the stock in a report on Friday, May 9th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $4.50.

Institutional Trading of Veritone

Several hedge funds and other institutional investors have recently bought and sold shares of VERI. Ground Swell Capital LLC bought a new stake in Veritone in the second quarter valued at about $27,000. Virtu Financial LLC acquired a new position in Veritone in the first quarter valued at approximately $30,000. Bayesian Capital Management LP acquired a new position in Veritone in the fourth quarter valued at approximately $39,000. LPL Financial LLC acquired a new position in Veritone in the fourth quarter valued at approximately $48,000. Finally, Capital Advisors Inc. OK acquired a new position in Veritone in the first quarter valued at approximately $70,000. 39.18% of the stock is owned by institutional investors.

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.