Short Interest in Cerebras Systems Inc. (NASDAQ:CBRS) Expands By 211.6%

Cerebras Systems Inc. (NASDAQ:CBRS) was the target of a large increase in short interest in May. As of May 29th, there was short interest totaling 5,918,090 shares, an increase of 211.6% from the May 14th total of 1,899,096 shares. Based on an average daily trading volume, of 8,259,984 shares, the short-interest ratio is currently 0.7 days. Approximately 2.8% of the company’s shares are sold short.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on CBRS shares. Wedbush initiated coverage on Cerebras Systems in a report on Monday, June 8th. They set an “outperform” rating and a $270.00 price objective for the company. Morgan Stanley started coverage on shares of Cerebras Systems in a research note on Monday, June 8th. They issued an “overweight” rating and a $250.00 price objective on the stock. UBS Group initiated coverage on shares of Cerebras Systems in a research report on Monday, June 8th. They set a “buy” rating and a $300.00 price objective on the stock. Zacks Research raised shares of Cerebras Systems to a “hold” rating in a research report on Tuesday. Finally, Rosenblatt Securities began coverage on shares of Cerebras Systems in a research report on Monday, June 8th. They set a “buy” rating and a $300.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $294.00.

Cerebras Systems Stock Down 5.5%

Shares of NASDAQ:CBRS traded down $12.55 during midday trading on Friday, hitting $214.00. 4,716,201 shares of the stock traded hands, compared to its average volume of 7,210,248. Cerebras Systems has a one year low of $196.73 and a one year high of $386.34.

Cerebras Systems Company Profile

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.