Veritone (NASDAQ:VERI) Stock Price Down 11.3% - What's Next?

Veritone, Inc. (NASDAQ:VERI - Get Free Report) shares dropped 11.3% on Monday . The company traded as low as $1.22 and last traded at $1.26. Approximately 4,258,209 shares changed hands during mid-day trading, an increase of 443% from the average daily volume of 784,239 shares. The stock had previously closed at $1.42.

Analyst Upgrades and Downgrades

VERI has been the subject of a number of research reports. UBS Group cut their price objective on shares of Veritone from $3.50 to $2.00 and set a "neutral" rating for the company in a research note on Friday, May 9th. LADENBURG THALM/SH SH started coverage on Veritone in a report on Monday, March 17th. They issued a "buy" rating and a $6.00 price objective on the stock. D. Boral Capital restated a "buy" rating and set a $4.00 target price on shares of Veritone in a report on Thursday. Finally, HC Wainwright restated a "buy" rating and set a $6.00 price target on shares of Veritone in a research report on Monday, March 17th.

Veritone Trading Up 5.7%

The stock has a market capitalization of $71.37 million, a P/E ratio of -1.71 and a beta of 2.64. The firm's 50 day moving average price is $1.65 and its 200 day moving average price is $2.37. The company has a debt-to-equity ratio of 7.50, a current ratio of 0.99 and a quick ratio of 0.99.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Vanguard Capital Wealth Advisors lifted its holdings in Veritone by 6.5% in the 4th quarter. Vanguard Capital Wealth Advisors now owns 75,214 shares of the company's stock worth $247,000 after buying an additional 4,614 shares during the period. Bayesian Capital Management LP bought a new stake in Veritone in the fourth quarter valued at $39,000. Squarepoint Ops LLC boosted its holdings in 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 acquiring an additional 12,435 shares in the last quarter. Virtu Financial LLC purchased a new position in Veritone during the 1st quarter valued at $30,000. Finally, Geode Capital Management LLC raised its holdings in Veritone by 3.7% in 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. 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.