Short Interest in Viant Technology Inc. (NASDAQ:DSP) Drops By 6.1%

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

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Needham & Company LLC reiterated a “buy” rating and set a $12.00 price target on shares of Viant Technology in a research note on Tuesday, August 13th. Canaccord Genuity Group reaffirmed a “hold” rating and set a $11.00 target price on shares of Viant Technology in a research report on Tuesday, August 13th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Viant Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $11.80.

Viant Technology Trading Up 1.0 %

DSP opened at $11.01 on Monday. The stock’s 50 day simple moving average is $10.71 and its 200-day simple moving average is $10.02. The stock has a market cap of $699.08 million, a PE ratio of -91.75 and a beta of 0.74. 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 earnings results on Monday, August 12th. The company reported ($0.19) 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 company had revenue of $41.56 million for the quarter, compared to the consensus estimate of $41.10 million. Equities analysts forecast that Viant Technology will post -0.37 earnings per share for the current fiscal year.

Insider Activity at Viant Technology

In related news, CFO Larry Madden sold 3,084 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $11.05, for a total transaction of $34,078.20. Following the completion of the sale, the chief financial officer now directly owns 538,434 shares in the company, valued at $5,949,695.70. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 28.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Federated Hermes Inc. increased its stake in shares of Viant Technology by 5,286.9% in the 2nd quarter. Federated Hermes Inc. now owns 67,767 shares of the company’s stock valued at $669,000 after buying an additional 66,509 shares during the period. Quadrature Capital Ltd raised its holdings in Viant Technology by 39.0% during the 1st quarter. Quadrature Capital Ltd now owns 73,684 shares of the company’s stock worth $783,000 after purchasing an additional 20,668 shares during the last quarter. Acadian Asset Management LLC lifted its position in Viant Technology by 659.4% during the 2nd quarter. Acadian Asset Management LLC now owns 142,384 shares of the company’s stock valued at $1,403,000 after purchasing an additional 123,635 shares during the period. ClariVest Asset Management LLC bought a new position in shares of Viant Technology in the 2nd quarter valued at about $1,387,000. Finally, GSA Capital Partners LLP grew its position in shares of Viant Technology by 4.4% during the 1st quarter. GSA Capital Partners LLP now owns 40,430 shares of the company’s stock worth $431,000 after buying an additional 1,699 shares during the period. 11.38% of the stock is owned by institutional investors.

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.