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

Viant Technology Inc. (NASDAQ:DSP) was the target of a large growth in short interest during the month of 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. Currently, 4.6% of the shares of the company are sold short. Based on an average trading volume of 118,700 shares, the days-to-cover ratio is currently 5.5 days.

Hedge Funds Weigh In On Viant Technology

A number of hedge funds have recently added to or reduced their stakes in DSP. G2 Investment Partners Management LLC lifted its position in shares of Viant Technology by 11.6% in the fourth quarter. G2 Investment Partners Management LLC now owns 430,850 shares of the company’s stock worth $2,969,000 after buying an additional 44,779 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Viant Technology by 3.5% in the second quarter. Dimensional Fund Advisors LP now owns 179,233 shares of the company’s stock valued at $1,769,000 after purchasing an additional 6,064 shares during the period. Acadian Asset Management LLC lifted its stake in shares of Viant Technology by 659.4% in the second 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 last quarter. ClariVest Asset Management LLC bought a new stake in shares of Viant Technology during the 2nd quarter worth $1,387,000. Finally, Quadrature Capital Ltd grew its stake in Viant Technology by 39.0% in the 1st quarter. Quadrature Capital Ltd now owns 73,684 shares of the company’s stock valued at $783,000 after buying an additional 20,668 shares during the last quarter. Institutional investors and hedge funds own 11.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on DSP. Needham & Company LLC reiterated a “buy” rating and set a $12.00 price target on shares of Viant Technology in a research report 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 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. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $11.80.

Viant Technology Stock Performance

Shares of NASDAQ:DSP traded up $0.03 during mid-day trading on Wednesday, hitting $10.65. The stock had a trading volume of 28,851 shares, compared to its average volume of 128,844. The company’s 50 day moving average is $10.67 and its 200-day moving average is $9.97. Viant Technology has a 12-month low of $4.98 and a 12-month high of $12.36. The company has a market cap of $676.22 million, a PE ratio of -88.83 and a beta of 0.74.

Viant Technology (NASDAQ:DSP) last announced its quarterly earnings data on Monday, August 12th. The company reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.10). The business had revenue of $41.56 million for the quarter, compared to analyst estimates of $41.10 million. Viant Technology had a negative return on equity of 7.39% and a negative net margin of 0.33%. On average, equities research analysts predict that Viant Technology will post -0.37 EPS for the current fiscal year.

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.