Veritone (NASDAQ:VERI) Earns Sell (E+) Rating from Weiss Ratings

Key Points

• Weiss Ratings has restated Veritone's stock rating as "sell (e+)", indicating concerns regarding the company's performance.
• Despite the "sell" rating from Weiss, other analysts have shown mixed sentiments, with one raising the stock to a "strong-buy" and a consensus rating of "Moderate Buy" from multiple analysts.
• Veritone's stock recently traded down 4.2% to $5.03, with a market cap of approximately $297.63 million and a notable trading volume of nearly 7.8 million shares on Wednesday.

Veritone (NASDAQ:VERI - Get Free Report)'s stock had its "sell (e+)" rating restated by stock analysts at Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

Other equities analysts have also issued reports about the company. Wall Street Zen raised Veritone from a "sell" rating to a "hold" rating in a research report on Friday, September 26th. D. Boral Capital reaffirmed a "buy" rating and set a $6.00 target price on shares of Veritone in a research report on Tuesday, September 2nd. Finally, D Boral Capital raised Veritone to a "strong-buy" rating in a research report on Tuesday, September 2nd. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Veritone currently has a consensus rating of "Moderate Buy" and a consensus target price of $5.00.

Veritone Trading Down 4.2%

VERI stock traded down $0.22 during trading on Wednesday, hitting $5.03. The company had a trading volume of 7,774,840 shares, compared to its average volume of 8,322,300. The business has a 50-day moving average of $3.58 and a 200-day moving average of $2.48. Veritone has a one year low of $1.22 and a one year high of $6.43. The stock has a market cap of $297.63 million, a PE ratio of -6.06 and a beta of 3.23. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 89.57.

Institutional Trading of Veritone

Several institutional investors and hedge funds have recently modified their holdings of the business. Freedom Investment Management Inc. raised its holdings in shares of Veritone by 6.3% in the 2nd quarter. Freedom Investment Management Inc. now owns 117,572 shares of the company's stock valued at $148,000 after acquiring an additional 6,954 shares in the last quarter. Virtu Financial LLC bought a new stake in shares of Veritone during the first quarter valued at approximately $30,000. Geode Capital Management LLC boosted its position in shares of Veritone by 4.2% during the second quarter. Geode Capital Management LLC now owns 480,842 shares of the company's stock valued at $606,000 after purchasing an additional 19,597 shares in the last quarter. Ground Swell Capital LLC bought a new stake in Veritone in the second quarter worth $27,000. Finally, Capital Advisors Inc. OK bought a new stake in Veritone in the first quarter worth $70,000. Hedge funds and other institutional investors own 39.18% of the company's stock.

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.

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