Super Micro Computer (SMCI) Stock Is Down 9%: What's Going On?

Super Micro Computer Inc SMCI shares are trading lower by 8.18% to $47.39 Tuesday afternoon, pulling back following earlier gains.

What To Know: The AI server manufacturer is set to submit its annual and quarterly reports to the Securities and Exchange Commission after a prolonged delay caused by the resignation of its independent auditor, Ernst & Young, over governance concerns last October. Despite the setback, an independent Special Committee found no evidence of fraud or misconduct.

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Super Micro has meanwhile assured investors that the reports will be filed by the February 25 deadline, avoiding a potential Nasdaq delisting. The company's preliminary earnings, released earlier this month, exceeded Wall Street expectations, but investor sentiment remains mixed.

Analysts are divided on the stock's outlook, with some optimistic about its growth potential and others cautious about its near-term performance. The filings’ completion today could either bolster confidence or fuel skepticism about Super Micro's future.

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According to data from Benzinga Pro, SMCI has a 52-week high of $122.90 and a 52-week low of $17.25.