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

Viant Technology Inc. (NASDAQ:DSP) was the target of a significant growth in short interest in 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. Approximately 4.6% of the shares of the stock are sold short. Based on an average daily volume of 118,700 shares, the short-interest ratio is currently 5.5 days.

Viant Technology Stock Performance

DSP traded up $0.15 on Wednesday, hitting $10.77. 47,634 shares of the company were exchanged, compared to its average volume of 128,948. The firm has a fifty day simple moving average of $10.67 and a two-hundred day simple moving average of $9.97. The stock has a market capitalization of $683.84 million, a PE ratio of -88.83 and a beta of 0.74. Viant Technology has a 12 month low of $4.98 and a 12 month high of $12.36.

Viant Technology (NASDAQ:DSP) last issued its earnings results on Monday, August 12th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.10). Viant Technology had a negative return on equity of 7.39% and a negative net margin of 0.33%. The firm had revenue of $41.56 million during the quarter, compared to the consensus estimate of $41.10 million. On average, equities analysts expect that Viant Technology will post -0.37 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have issued reports on DSP. Canaccord Genuity Group reaffirmed a “hold” rating and issued a $11.00 target price on shares of Viant Technology in a research note on Tuesday, August 13th. 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. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $11.80.

Hedge Funds Weigh In On Viant Technology

A number of hedge funds have recently modified their holdings of DSP. Algert Global LLC purchased a new stake in Viant Technology in the 2nd quarter worth approximately $128,000. Mackenzie Financial Corp purchased a new stake in Viant Technology in the second quarter worth $112,000. AQR Capital Management LLC purchased a new stake in Viant Technology in the second quarter worth $236,000. Squarepoint Ops LLC boosted its holdings in Viant Technology by 42.8% in the second quarter. Squarepoint Ops LLC now owns 73,008 shares of the company’s stock valued at $721,000 after acquiring an additional 21,888 shares in the last quarter. Finally, XTX Topco Ltd increased its position in Viant Technology by 55.1% during the 2nd quarter. XTX Topco Ltd now owns 20,946 shares of the company’s stock valued at $207,000 after purchasing an additional 7,437 shares during the period. Hedge funds and other institutional investors own 11.38% of the company’s stock.

About Viant Technology

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.