QumulusAI (NASDAQ:QMLS) Announces Quarterly Earnings Results

QumulusAI (NASDAQ:QMLS) announced its quarterly earnings results on Tuesday. The company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.02), Zacks reports.

QumulusAI Price Performance

NASDAQ:QMLS traded down $0.06 on Tuesday, reaching $3.07. 312,165 shares of the stock traded hands, compared to its average volume of 434,659. QumulusAI has a 1-year low of $2.58 and a 1-year high of $38.00. The firm has a 50 day moving average of $5.16. The stock has a market capitalization of $102.72 million and a price-to-earnings ratio of -1.35.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on QMLS shares. B. Riley Financial started coverage on shares of QumulusAI in a report on Wednesday, October 21st. They issued a “buy” rating and a $11.00 price objective for the company. Compass Point began coverage on shares of QumulusAI in a report on Friday, October 16th. They set a “buy” rating and a $9.00 target price on the stock. Wall Street Zen cut shares of QumulusAI from a “hold” rating to a “sell” rating in a research report on Saturday, October 17th. Zacks Research raised shares of QumulusAI to a “hold” rating in a research note on Friday, August 28th. Finally, Chardan Capital reiterated a “buy” rating and set a $23.00 price target on shares of QumulusAI in a report on Wednesday, September 30th. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, QumulusAI presently has an average rating of “Hold” and a consensus price target of $14.33.

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.