Veritone (NASDAQ:VERI) Coverage Initiated by Analysts at HC Wainwright

Investment analysts at HC Wainwright initiated coverage on shares of Veritone (NASDAQ:VERI) in a report released on Friday,Briefing.com Automated Import reports. The brokerage set a “buy” rating on the stock.

Other equities research analysts have also recently issued reports about the company. UBS Group upgraded Veritone from a “sell” rating to a “neutral” rating and set a $3.50 target price for the company in a research note on Wednesday, October 30th. D. Boral Capital assumed coverage on Veritone in a research report on Monday, February 3rd. They set a “buy” rating and a $4.50 price objective for the company.

Veritone Stock Performance

Shares of Veritone stock traded down $0.08 on Friday, reaching $2.87. 195,032 shares of the stock were exchanged, compared to its average volume of 863,860. The firm has a market cap of $115.20 million, a PE ratio of -1.33 and a beta of 3.15. The firm’s 50 day moving average is $3.04 and its 200-day moving average is $3.19. Veritone has a one year low of $1.65 and a one year high of $7.76.

Insiders Place Their Bets

In related news, Director Chad Steelberg sold 504,657 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $2.52, for a total transaction of $1,271,735.64. Following the sale, the director now owns 31,861 shares of the company’s stock, valued at $80,289.72. This trade represents a 94.06 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 26.60% of the company’s stock.

Hedge Funds Weigh In On Veritone

Several large investors have recently bought and sold shares of VERI. Clarity Capital Partners LLC bought a new position in Veritone in the 4th quarter valued at approximately $34,000. Bayesian Capital Management LP acquired a new position in Veritone in the 4th quarter valued at approximately $39,000. LPL Financial LLC bought a new position in shares of Veritone during the fourth quarter valued at $48,000. Benjamin Edwards Inc. acquired a new position in shares of Veritone during the third quarter worth $65,000. Finally, Charles Schwab Investment Management Inc. bought a new stake in shares of Veritone in the fourth quarter worth $66,000. 39.18% of the stock is currently owned by institutional investors.

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.