Cerebras Systems Inc. (NASDAQ:CBRS) Sees Significant Increase in Short Interest

Cerebras Systems Inc. (NASDAQ:CBRSGet Free Report) was the recipient of a significant growth in short interest during the month of May. As of May 29th, there was short interest totaling 5,918,090 shares, a growth of 211.6% from the May 14th total of 1,899,096 shares. Currently, 2.8% of the shares of the company are short sold. Based on an average trading volume of 8,259,984 shares, the short-interest ratio is presently 0.7 days.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Mizuho assumed coverage on shares of Cerebras Systems in a research report on Monday, June 8th. They issued an “outperform” rating and a $300.00 price target for the company. Wedbush assumed coverage on shares of Cerebras Systems in a research report on Monday, June 8th. They issued an “outperform” rating and a $270.00 price target for the company. Rosenblatt Securities assumed coverage on shares of Cerebras Systems in a research report on Monday, June 8th. They issued a “buy” rating and a $300.00 price target for the company. Zacks Research upgraded shares of Cerebras Systems to a “hold” rating in a research report on Tuesday, June 9th. Finally, Needham & Company LLC assumed coverage on shares of Cerebras Systems in a research report on Monday, June 8th. They issued a “buy” rating and a $300.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $294.00.

View Our Latest Research Report on CBRS

Cerebras Systems Price Performance

NASDAQ CBRS opened at $214.00 on Friday. Cerebras Systems has a 1-year low of $196.73 and a 1-year high of $386.34.

Cerebras Systems Company Profile

(Get Free Report)

Cerebras Systems is a technology company focused on building artificial intelligence infrastructure, including hardware and software designed to accelerate deep learning and large-scale AI workloads. The company is best known for its wafer-scale processor architecture, which is intended to provide high-performance compute for training and inference applications.

In addition to its AI chips, Cerebras offers systems and related software tools that support researchers and enterprises working with machine learning models.

Further Reading

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