Movement Alert｜SharonAI Holdings Rises 8.9% in Regular Trading, B.Riley Initiates Coverage With Buy Rating and $124 Target Price

Market Focus07-09

On July 9, SharonAI Holdings rose 8.9% in regular trading, trading at $81.86/share, with turnover of $53.16 million.

On the news front, investment bank B.Riley initiated coverage on the stock with a Buy rating and a $124 price target, implying approximately 51% upside from current levels. According to FactSet, the stock now carries an average analyst rating of Buy with a mean price target of $120.88.

The initiation adds to a series of positive catalysts for the company. NVIDIA previously announced a strategic partnership with SharonAI to co-build AI factories through a revenue-sharing model deploying up to 40,000 Grace Blackwell GB300 GPUs. Additionally, Situational Awareness LP, a fund managed by former OpenAI researcher Leopold Aschenbrenner, disclosed holding approximately 10% of the company. The stock had previously fallen 8.7% on July 7 amid market concerns over AI compute overcapacity, making the current move a continuation of the oversold recovery driven by accumulating bullish catalysts.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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