Chardan Starts QumulusAI (QMLS) at Buy

Chardan analyst Bill Papanastasiou initiates coverage on QumulusAI (NASDAQ: QMLS) with a Buy rating and a price target of $24.50.

The analyst comments: “QumulusAI, Inc. is a cloud infrastructure company that rents compute capacity to underserved small-to-mid market customers paired with a sub-scale legacy Bitcoin mining business. We think the stock offers investors the opportunity to own an emerging cloud infrastructure company with a compelling growth profile amidst a favorable market backdrop of accelerating demand for artificial intelligence applications that is driving higher GPU rental economics. The company's core differentiation is speed to deployment and is able to stand up sub-scale GPU clusters in under ninety days (vs. 12-24 month buildout cycles typical of hyperscale and traditional infrastructure providers). As the company is primarily targeting single-digit megawatt sites, there is generally a much larger pool of data center colocation capacity available to scale the platform. In essence, we think this strategy should enable QMLS to capitalize on favorable economics with less constraint, helping to convert capital into revenue at a potentially higher clip.”

For an analyst ratings summary and ratings history on QumulusAI click here. For more ratings news on QumulusAI click here.

Shares of QumulusAI closed at $6.11 yesterday.

You May Also Be Interested In

• Piper Sandler Starts Jasper Therapeutics (JSPR) at Overweight
• RideNow Group (RDNW) PT Lowered to $8 at DA Davidson
• Siemens Ltd. (SIEM:IN) PT Raised to INR3,000 at BofA Securities