Viant Technology Inc. (NASDAQ:DSP) Short Interest Update

Viant Technology Inc. (NASDAQ:DSP) saw a large growth in short interest during the month of August. As of August 31st, there was short interest totalling 653,500 shares, a growth of 10.8% from the August 15th total of 589,800 shares. Based on an average daily volume of 118,700 shares, the days-to-cover ratio is currently 5.5 days. Approximately 4.6% of the company’s shares are short sold.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on DSP shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $12.00 price objective on shares of Viant Technology in a research note on Tuesday, August 13th. Canaccord Genuity Group reissued a “hold” rating and set a $11.00 price objective on shares of Viant Technology in a research report on Tuesday, August 13th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $11.80.

Hedge Funds Weigh In On Viant Technology

Several hedge funds have recently modified their holdings of DSP. Allspring Global Investments Holdings LLC acquired a new position in shares of Viant Technology during the 2nd quarter worth about $47,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of Viant Technology during the 2nd quarter worth approximately $84,000. Summit Global Investments bought a new stake in Viant Technology in the 2nd quarter valued at $111,000. Mackenzie Financial Corp acquired a new stake in Viant Technology during the 2nd quarter valued at $112,000. Finally, Algert Global LLC bought a new position in Viant Technology during the second quarter worth $128,000. Institutional investors own 11.38% of the company’s stock.

Viant Technology Stock Performance

Viant Technology stock traded up $0.04 during midday trading on Wednesday, reaching $10.66. The stock had a trading volume of 24,400 shares, compared to its average volume of 128,819. The stock has a market capitalization of $676.86 million, a P/E ratio of -88.50 and a beta of 0.74. The firm’s fifty day simple moving average is $10.67 and its 200-day simple moving average is $9.97. Viant Technology has a 1-year low of $4.98 and a 1-year high of $12.36.

Viant Technology (NASDAQ:DSP) last posted its quarterly earnings data on Monday, August 12th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.10). The business had revenue of $41.56 million during the quarter, compared to analyst estimates of $41.10 million. Viant Technology had a negative net margin of 0.33% and a negative return on equity of 7.39%. On average, sell-side analysts anticipate that Viant Technology will post -0.37 earnings per share for the current fiscal year.

Viant Technology Company Profile

Viant Technology Inc operates as an advertising technology company. It provides Household ID, a people-based innovation that combines digital and personal identifiers into a normalized household profile; AI Bid Optimizer, solution that uses AI to analyze historical bid opportunities to predict the lowest media cost for desired advertisement; and Viant Data Platform, which offers marketers control over their own data with actionable insights into their marketing initiatives within a single platform.