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

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

Analyst Ratings Changes

VERI has been the subject of a number of research analyst reports. HC Wainwright restated a "buy" rating and set a $6.00 target price on shares of Veritone in a report on Monday, March 17th. UBS Group reduced their price target on shares of Veritone from $3.50 to $2.00 and set a "neutral" rating on the stock in a research report on Friday, May 9th. D. Boral Capital restated a "buy" rating and issued a $4.50 price objective on shares of Veritone in a report on Monday, April 28th. Finally, LADENBURG THALM/SH SH assumed coverage on shares of Veritone in a research note on Monday, March 17th. They set a "buy" rating and a $6.00 target price on the stock.

Veritone Price Performance

The company has a 50 day moving average of $1.70 and a 200 day moving average of $2.39. The company has a debt-to-equity ratio of 7.50, a quick ratio of 0.99 and a current ratio of 0.99. The stock has a market capitalization of $58.62 million, a price-to-earnings ratio of -1.43 and a beta of 2.77.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in VERI. Virtu Financial LLC purchased a new stake in shares of Veritone in the 1st quarter valued at approximately $30,000. Bayesian Capital Management LP acquired a new position in shares of Veritone during the fourth quarter worth $39,000. LPL Financial LLC purchased a new position in Veritone in the fourth quarter valued at $48,000. Charles Schwab Investment Management Inc. purchased a new position in Veritone in the fourth quarter valued at $66,000. Finally, Capital Advisors Inc. OK acquired a new stake in Veritone in the first quarter valued at $70,000. Hedge funds and other institutional investors own 39.18% of the company's stock.

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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