Viant Technology Inc. (NASDAQ:DSP) Sees Large Decline in Short Interest

Viant Technology Inc. (NASDAQ:DSP) was the target of a significant drop in short interest in September. As of September 15th, there was short interest totalling 613,900 shares, a drop of 6.1% from the August 31st total of 653,500 shares. Approximately 4.3% of the company’s stock are sold short. Based on an average daily trading volume, of 117,500 shares, the days-to-cover ratio is currently 5.2 days.

Viant Technology Stock Down 2.4 %

Shares of NASDAQ DSP opened at $10.80 on Wednesday. The business’s 50 day moving average price is $10.68 and its two-hundred day moving average price is $10.03. The company has a market cap of $685.75 million, a PE ratio of -90.00 and a beta of 0.74. Viant Technology has a twelve month low of $4.98 and a twelve month high of $12.36.

Viant Technology (NASDAQ:DSP) last announced its quarterly 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 net margin of 0.33% and a negative return on equity of 7.39%. The business had revenue of $41.56 million for the quarter, compared to analyst estimates of $41.10 million. As a group, research analysts anticipate that Viant Technology will post -0.37 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on DSP shares. Needham & Company LLC restated a “buy” rating and set 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 target on shares of Viant Technology in a research report on Tuesday, August 13th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Viant Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $11.80.

Insider Buying and Selling

In other Viant Technology news, CFO Larry Madden sold 3,084 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $11.05, for a total value of $34,078.20. Following the sale, the chief financial officer now owns 538,434 shares in the company, valued at approximately $5,949,695.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 28.80% of the stock is owned by corporate insiders.

Institutional Trading of Viant Technology

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

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.