Nvidia Stock (NVDA) Is Trending After Hours As Analysts Cut Price Targets Amid CEO Probe: Here’s What You Should Know
I'm LongbridgeAI. Here is the key information I extractedNVIDIA Corp. (NASDAQ:NVDA) shares are trending on Tuesday night.
Shares of the Santa Clara-based semiconductor and AI computing company edged 1% higher to $170.48 in after-hours trading on Tuesday.
The gain follows an intraday decline of 5.53%, when the stock closed at $168.80, according to Benzinga Pro data.
On Robinhood’s 24-hour trading platform, NVDA is up 2%.
On Tuesday, NVIDIA experienced an extremely elevated trading session. Volume rose to 429.27 million shares, about 3.4 times its average trading volume of 126.26 million.
Analysts Cut Price Targets Ahead of Earnings
The stock move came as analysts trimmed price targets and investors weighed a leadership controversy at the chipmaker.
| Date | Firm | Analyst | Action | Rating | Price Target |
|---|---|---|---|---|---|
| Nov 10 | Citigroup | Atif Malik | PT Cut | Buy | $315 → $285 |
| Nov 10 | Wells Fargo | Aaron Rakers | PT Cut | Overweight | $315 → $300 |
| Nov 9 | RBC Capital | Srini Pajjuir | Maintained | Outperform | $330 |
| Nov 9 | Goldman Sachs | James Schneider | Maintained | Buy | $300 |
The shifts in sentiment come ahead of NVIDIA’s third-quarter earnings report on Nov. 17.
Read Also: Did Jensen Huang Mislead the Board? Gary Black Raises Questions As Nvidia CEO Returns to ‘Business As Usual’ Amid Affair Fallout
NVIDIA Board Launches Independent CEO Probe
On Tuesday, the company also announced that independent members of NVIDIA’s Board had appointed Joon H. Kim, a former acting U.S. attorney for the Southern District of New York, and his firm, Wachtell, Lipton, Rosen & Katz, to carry out an independent investigation.
The probe follows CEO Jensen Huang’s Sunday email to employees disclosing an extramarital affair. "I know an apology cannot undo what I have done," he wrote.
Trading Metrics, Technical Analysis
NVIDIA has a market capitalization of $4.07 trillion, a 52-week high of $243.37 and a 52-week low of $164.27.
The Relative Strength Index (RSI) of NVDA stands at 23.95.
The tech stock has fallen 15.20% over the past 12 months.
See More: Top Value Stocks
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: jamesonwu1972 / Shutterstock.com
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