QumulusAI Inc. (NASDAQ:QMLS) Stock Short Interest Jumps 74.2%

QumulusAI Inc. (NASDAQ:QMLS) saw a large increase in short interest in September. As of September 30th, there was short interest totaling 992,995 shares, an increase of 74.2% from the September 15th total of 570,032 shares. Based on an average daily trading volume, of 652,246 shares, the short-interest ratio is currently 1.5 days. Approximately 3.0% of the company’s stock are sold short.

QumulusAI Stock Up 7.3%

NASDAQ:QMLS traded up $0.27 on Thursday, reaching $4.01. 295,664 shares of the stock traded hands, compared to its average volume of 485,760. The firm has a market capitalization of $134.24 million and a P/E ratio of -1.76. QumulusAI has a 12 month low of $3.70 and a 12 month high of $38.00. The stock’s fifty day moving average is $6.18.

QumulusAI (NASDAQ:QMLS) last issued its earnings results on Tuesday, August 25th. The company reported ($0.72) earnings per share (EPS) for the quarter. The business had revenue of $6.71 million for the quarter. As a group, research analysts predict that QumulusAI will post -2.93 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

QMLS has been the subject of a number of recent research reports. Chardan Capital reiterated a “buy” rating and set a $23.00 price objective on shares of QumulusAI in a research note on Wednesday, September 30th. Wall Street Zen raised QumulusAI to a “hold” rating in a research note on Saturday, July 25th. Weiss Ratings began coverage on QumulusAI in a report on Monday. They set a “sell (e-)” rating for the company. Finally, Zacks Research upgraded QumulusAI to a “hold” rating in a report on Friday, August 28th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $23.00.

About QumulusAI

QumulusAI is a cloud infrastructure company specializing in rapid deployment of graphics processing unit (“GPU”)-powered solutions for artificial intelligence (“AI”) applications, serving a critical market that is often overlooked by large-scale cloud providers (“hyperscalers”), which operate massive, standardized computing infrastructures primarily serving the largest enterprises. Our platform delivers flexible, competitively priced, and customizable solutions for underserved small and mid-market customers—including machine learning teams, AI infrastructure startups, and research institutions—while also supporting the scale and complexity requirements of large enterprises, such as long-term deployments or supplemental on-demand compute capacity.