Viant Technology Inc. (NASDAQ:DSP) Sees Significant Growth in Short Interest

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

Viant Technology Trading Up 0.4 %

Shares of NASDAQ DSP traded up $0.04 during midday trading on Wednesday, reaching $10.66. The company’s stock had a trading volume of 24,400 shares, compared to its average volume of 128,819. The company has a market cap of $676.86 million, a price-to-earnings ratio of -88.50 and a beta of 0.74. Viant Technology has a one year low of $4.98 and a one year high of $12.36. The company has a 50 day moving average price of $10.67 and a 200 day moving average price of $9.97.

Viant Technology (NASDAQ:DSP) last released its quarterly earnings results on Monday, August 12th. The company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.10). The company 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%. Research analysts anticipate that Viant Technology will post -0.37 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

DSP has been the subject of a number of analyst reports. Canaccord Genuity Group restated a “hold” rating and set a $11.00 price objective on shares of Viant Technology in a research report on Tuesday, August 13th. Needham & Company LLC reiterated a “buy” rating and issued a $12.00 target price 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 issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $11.80.

Institutional Investors Weigh In On Viant Technology

Several hedge funds have recently bought and sold shares of DSP. Quadrature Capital Ltd raised its holdings in shares of Viant Technology by 39.0% during the first quarter. Quadrature Capital Ltd now owns 73,684 shares of the company’s stock worth $783,000 after acquiring an additional 20,668 shares in the last quarter. ClariVest Asset Management LLC bought a new position in shares of Viant Technology in the second quarter worth about $1,387,000. Acadian Asset Management LLC increased its position in Viant Technology by 659.4% in the 2nd quarter. Acadian Asset Management LLC now owns 142,384 shares of the company’s stock worth $1,403,000 after buying an additional 123,635 shares during the period. GSA Capital Partners LLP raised its stake in Viant Technology by 4.4% during the 1st quarter. GSA Capital Partners LLP now owns 40,430 shares of the company’s stock valued at $431,000 after purchasing an additional 1,699 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC acquired a new position in shares of Viant Technology during the second quarter valued at about $84,000. 11.38% of the stock is owned by hedge funds and other institutional investors.

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.