ChronoScale Holdings Corp. (NASDAQ:CHRN) shares rose on Friday after the company expanded its AI infrastructure contracts, supporting a projected annualized revenue run rate of $1 billion by the third quarter of 2027.
S&P 500 futures were also up about 0.97%, providing a firmer market backdrop.
ChronoScale Expands AI Contracted Pipeline
ChronoScale expanded an agreement with an existing AI infrastructure customer and signed a separate contract with a new customer, increasing its contracted deployment pipeline and capacity.
CEO Cenly Chen said, “With these agreements, together with our existing contracts and current deployment schedule, we now have agreements in place that provide for $1 billion in annualized revenue run rate during calendar 2027.”
Reaching that level remains subject to timely infrastructure deployment and commissioning, power and equipment availability, and access to capital on acceptable terms.
ChronoScale Completes Ekso Bionics Sale
ChronoScale also completed the previously announced sale of its Ekso Bionics business to Wandercraft. Financial terms were not disclosed.
The divestiture further concentrates ChronoScale on GPU-based infrastructure for AI training, inference, and high-performance computing.
CEO Cenly Chen said the transaction would “further sharpen our focus and concentrate our resources on what we see as the significant opportunity ahead in AI infrastructure.”
CHRN Technical Outlook: Resistance And Support
At $20.33, CHRN is trading above its 20-day SMA of $19.81 and 100-day SMA of $20.26, but remains below the 50-day SMA of $20.66.
The setup points to improving near-term momentum, though the 20-day SMA remains below the 50-day SMA, keeping the bearish crossover intact. A sustained move above the 50-day average could strengthen the case for a broader recovery.
RSI stands at 45.04, indicating neutral momentum and leaving room for additional upside without signaling overbought conditions.
Key resistance is $22.50, where a rebound could face selling pressure. Key support is $17.00, a prior demand area that could come back into focus if weakness resumes.
CHRN Analyst Outlook
ChronoScale carries a Strong Buy consensus rating with an average price forecast of $32.
On Sept. 18, Northland Capital Markets initiated coverage with an Outperform rating and a $32 price target.
CHRN Price Action: ChronoScale Holdings shares were up 1.76% at $19.70 at the time of publication on Friday, according to Benzinga Pro data.
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