Veritone (NASDAQ:VERI) Lowered to “Hold” at Craig Hallum
Craig Hallum cut shares of Veritone (NASDAQ:VERI) from a buy rating to a hold rating in a research note published on Thursday morning, The Fly reports. Craig Hallum currently has $3.00 price objective on the stock, down from their previous price objective of $14.00.
VERI has been the topic of a number of other research reports. Zacks Investment Research lowered Veritone from a buy rating to a hold rating in a report on Saturday, October 12th. ValuEngine raised Veritone from a buy rating to a strong-buy rating in a report on Thursday, August 1st. Three equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Veritone currently has a consensus rating of Buy and a consensus target price of $8.82.
Shares of VERI traded up $0.01 during midday trading on Thursday, hitting $2.67. The company had a trading volume of 239,000 shares, compared to its average volume of 556,325. The firm has a market capitalization of $59.11 million, a P/E ratio of -0.77 and a beta of 1.37. Veritone has a 1 year low of $2.43 and a 1 year high of $9.98. The company’s 50-day simple moving average is $3.17 and its 200-day simple moving average is $5.90.
Large investors have recently added to or reduced their stakes in the company. Jane Street Group LLC acquired a new position in shares of Veritone in the second quarter valued at approximately $131,000. Parametric Portfolio Associates LLC increased its holdings in shares of Veritone by 76.1% in the second quarter. Parametric Portfolio Associates LLC now owns 23,008 shares of the company’s stock valued at $192,000 after purchasing an additional 9,942 shares during the period. Paloma Partners Management Co acquired a new position in shares of Veritone in the second quarter valued at approximately $319,000. Creative Planning acquired a new position in shares of Veritone in the third quarter valued at approximately $361,000. Finally, Citadel Advisors LLC acquired a new position in shares of Veritone in the second quarter valued at approximately $366,000. 18.00% of the stock is currently owned by institutional investors and hedge funds.
Veritone, Inc provides artificial intelligence (AI) and computing solutions in the United States and the United Kingdom. It develops and operates aiWARE platform, an AI operating system that unlocks the power of cognitive computing to transform audio, video, and other unstructured data, as well as analyzes it in conjunction with structured data in an orchestrated and automated manner to generate actionable intelligence.
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