Cerebras Systems (NASDAQ:CBRS) Stock Price Down 9.6% – Here’s What Happened
by Scott Moore · The Cerbat GemCerebras Systems Inc. (NASDAQ:CBRS – Get Free Report) shares dropped 9.6% during trading on Wednesday . The company traded as low as $213.55 and last traded at $213.73. Approximately 2,288,498 shares changed hands during mid-day trading, a decline of 72% from the average daily volume of 8,128,629 shares. The stock had previously closed at $236.52.
Wall Street Analysts Forecast Growth
Separately, Wall Street Zen upgraded shares of Cerebras Systems from a “sell” rating to a “hold” rating in a research note on Sunday.
Read Our Latest Stock Report on Cerebras Systems
Cerebras Systems Stock Down 9.5%
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.