There are 8.5M shorts vs. 3.8M volume today so I don't shorts have covered much yet. The EPS got it because of the delay in the R&D tax credit which I presume will start impacting Q3 & Q4. The Q3 revenue guidance has to be higher than the current $550M. If both materialize the stock will be off to the races.
The Jan 28th call will be focus on those two issues.
We still believe that SMCI can benefit from secular trends in IT infrastructure spending, but as it goes through "growing pains," it needs to strengthen internal infrastructure," analyst Mehdi Hosseini said.
I understand the reasoning since the company hasn't executed well but the stock is already heavily discounted for that. So downgrading now is risky if *gasp* they actually do what they say they will do.