Veritone (NASDAQ:VERI) Hits New 1-Year High - Here's What Happened

Key Points

• Veritone's stock price reached a new 52-week high of $9.26, up from a previous close of $5.46, with a trading volume of over 14 million shares.
• Wall Street analysts have given Veritone a consensus rating of "Moderate Buy," with one analyst rating it as a Strong Buy and others issuing ratings ranging from Buy to Sell.
• Institutional investors have recently acquired new positions in Veritone, with approximately 39.18% of the stock now owned by these entities.

Veritone, Inc. (NASDAQ:VERI - Get Free Report)'s stock price hit a new 52-week high on Wednesday . The company traded as high as $8.90 and last traded at $9.26, with a volume of 14142622 shares traded. The stock had previously closed at $5.46.

Wall Street Analysts Forecast Growth

VERI has been the subject of a number of recent research reports. Weiss Ratings reiterated a "sell (e+)" rating on shares of Veritone in a research note on Wednesday, October 8th. Wall Street Zen upgraded shares of Veritone from a "sell" rating to a "hold" rating in a research note on Friday, September 26th. D. Boral Capital reiterated a "buy" rating on shares of Veritone in a research note on Wednesday. Finally, D Boral Capital upgraded shares of Veritone to a "strong-buy" rating in a research note on Tuesday, September 2nd. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $5.00.

Veritone Price Performance

The company has a debt-to-equity ratio of 89.57, a quick ratio of 0.89 and a current ratio of 0.89. The company's fifty day simple moving average is $3.80 and its two-hundred day simple moving average is $2.54. The stock has a market capitalization of $523.36 million, a PE ratio of -10.66 and a beta of 3.23.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Ground Swell Capital LLC bought a new position in shares of Veritone during the second quarter worth about $27,000. Virtu Financial LLC purchased a new stake in Veritone during the first quarter valued at about $30,000. Capital Advisors Inc. OK purchased a new stake in shares of Veritone in the first quarter worth approximately $70,000. NBZ Investment Advisors LLC acquired a new position in Veritone in the first quarter worth approximately $86,000. Finally, Skandinaviska Enskilda Banken AB publ acquired a new position in Veritone in the first quarter worth approximately $102,000. 39.18% of the stock is owned by institutional investors and hedge funds.

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.

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