Cerebras Systems Inc. (NASDAQ:CBRS - Get Free Report) was the target of some unusual options trading activity on Friday. Investors acquired 56,676 call options on the company. This represents an increase of 19% compared to the average daily volume of 47,713 call options.
Cerebras Systems Stock Up 8.7%
NASDAQ:CBRS traded up $8.54 during mid-day trading on Friday, hitting $106.29. 23,276,860 shares of the company traded hands, compared to its average volume of 8,156,517. The company has a debt-to-equity ratio of 0.02, a quick ratio of 5.80 and a current ratio of 5.82. The company has a fifty day moving average of $152.65. The company has a market cap of $25.25 billion and a price-to-earnings ratio of -1,326.52. Cerebras Systems has a one year low of $77.84 and a one year high of $386.34.
Cerebras Systems (NASDAQ:CBRS - Get Free Report) last posted its quarterly earnings data on Thursday, November 12th. The company reported $0.13 earnings per share for the quarter, beating analysts' consensus estimates of ($0.13) by $0.26. The company had revenue of $230.87 million for the quarter. Equities analysts predict that Cerebras Systems will post -0.52 EPS for the current year.
Analyst Upgrades and Downgrades
CBRS has been the topic of several recent research reports. Weiss Ratings cut shares of Cerebras Systems from a "sell (d)" rating to a "sell (d-)" rating in a research note on Wednesday, November 4th. Freedom Capital raised shares of Cerebras Systems from a "hold" rating to a "strong-buy" rating in a report on Friday, October 2nd. TD Cowen cut their target price on shares of Cerebras Systems from $275.00 to $175.00 and set a "buy" rating for the company in a research report on Monday, October 19th. Wedbush set a $205.00 target price on shares of Cerebras Systems in a report on Friday. Finally, Wall Street Zen upgraded shares of Cerebras Systems from a "sell" rating to a "hold" rating in a research report on Saturday, August 15th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $237.80.
Read Our Latest Stock Analysis on Cerebras Systems
Trending Headlines about Cerebras Systems
Here are a few of the latest headlines about CBRS:
- Positive Sentiment: Cloud growth and customer wins supported the outlook: core cloud revenue rose 272% year over year, the company announced Microsoft as a customer and reported wins with two new hyperscalers, with 700 megawatts of data-center capacity under contract. CNBC report on results and Microsoft deal
- Positive Sentiment: Call-option trading was above its typical level, suggesting increased speculative bullish interest, though options activity is not a guarantee of future performance.
- Neutral Sentiment: Needham lowered its price target to $200 from $300 but maintained a Buy rating, signaling a more cautious valuation while still seeing potential upside. Needham analyst ratings
Insider Buying and Selling at Cerebras Systems
In related news, CFO Robert Patrick Jr. Komin sold 32,500 shares of Cerebras Systems stock in a transaction on Tuesday, September 29th. The stock was sold at an average price of $203.53, for a total value of $6,614,725.00. Following the completion of the sale, the chief financial officer owned 30,670 shares of the company's stock, valued at $6,242,265.10. The trade was a 51.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Andrew D. Feldman sold 37,441 shares of the company's stock in a transaction on Friday, September 4th. The shares were sold at an average price of $210.46, for a total value of $7,879,832.86. Following the sale, the chief executive officer owned 16,853 shares of the company's stock, valued at approximately $3,546,882.38. This trade represents a 68.96% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 1,874,452 shares of company stock worth $383,719,154.
Institutional Trading of Cerebras Systems
Several institutional investors and hedge funds have recently modified their holdings of the company. Washington University increased its stake in Cerebras Systems by 175.3% in the 3rd quarter. Washington University now owns 1,517,400 shares of the company's stock worth $269,566,000 after buying an additional 966,314 shares in the last quarter. Value Aligned Research Advisors LLC bought a new stake in Cerebras Systems during the 2nd quarter valued at approximately $241,934,000. Wellington Management Group LLP purchased a new position in Cerebras Systems in the 2nd quarter worth approximately $194,853,000. Lunate Capital Ltd bought a new position in Cerebras Systems in the 3rd quarter worth approximately $115,351,000. Finally, State Street Corp boosted its stake in Cerebras Systems by 15.2% in the 3rd quarter. State Street Corp now owns 549,086 shares of the company's stock worth $97,545,000 after purchasing an additional 72,423 shares during the period.
About Cerebras Systems
(
Get Free Report)
Cerebras Systems develops computing systems and software designed for artificial intelligence and other compute-intensive workloads. Its products are built around the Wafer-Scale Engine, a large processor designed to support AI model training and inference, and include the CS-3 system and related software. The company also offers cloud-based access to its AI computing infrastructure, giving customers a way to run AI workloads without deploying its systems on site. Its offerings are aimed at organizations developing and operating large AI models, including businesses, research institutions and public-sector customers.
Further Reading
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