Viant Technology Inc. (NASDAQ:DSP) Short Interest Down 6.1% in September

Viant Technology Inc. (NASDAQ:DSP - Get Free Report) 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 shares of the stock are sold short. Based on an average trading volume of 117,500 shares, the short-interest ratio is currently 5.2 days.

Viant Technology Price Performance

DSP traded up $0.06 on Monday, reaching $11.07. 53,247 shares of the company traded hands, compared to its average volume of 126,982. Viant Technology has a 52-week low of $4.98 and a 52-week high of $12.36. The company has a market cap of $702.89 million, a price-to-earnings ratio of -91.75 and a beta of 0.74. The stock's 50 day moving average price is $10.71 and its 200-day moving average price is $10.02.

Viant Technology (NASDAQ:DSP - Get Free Report) last announced its quarterly earnings data 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 for the quarter, compared to analysts' expectations of $41.10 million. As a group, equities research analysts forecast that Viant Technology will post -0.37 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

DSP has been the topic of a number of recent analyst reports. Needham & Company LLC reaffirmed a "buy" rating and set a $12.00 target price on shares of Viant Technology in a research report on Tuesday, August 13th. Canaccord Genuity Group restated a "hold" rating and set a $11.00 price objective on shares of Viant Technology in a report on Tuesday, August 13th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $11.80.

Insider Activity

In related news, CFO Larry Madden sold 3,084 shares of the firm's stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $11.05, for a total transaction of $34,078.20. Following the completion of the transaction, the chief financial officer now owns 538,434 shares of the company's stock, valued at $5,949,695.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 28.80% of the company's stock.

Hedge Funds Weigh In On Viant Technology

Several institutional investors have recently bought and sold shares of DSP. Allspring Global Investments Holdings LLC bought a new position in Viant Technology in the 2nd quarter worth approximately $47,000. Ashton Thomas Private Wealth LLC bought a new stake in Viant Technology in the 2nd quarter valued at $84,000. Summit Global Investments acquired a new stake in Viant Technology in the 2nd quarter worth $111,000. Mackenzie Financial Corp bought a new position in shares of Viant Technology during the 2nd quarter worth about $112,000. Finally, Algert Global LLC acquired a new position in shares of Viant Technology during the second quarter valued at about $128,000. 11.38% of the stock is currently owned by 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.