Just saw Syrah's analyst targets got cut pretty significantly. The average price target dropped from $0.34 to $0.31, which is about a 10% haircut. Still, the range is pretty wide - analysts are all over the place from $0.25 to $0.38 on Syrah, so there's clearly some disagreement about where this is headed.

What caught my eye though is the fund activity. Institutional ownership in Syrah dropped noticeably last quarter - we're seeing major index funds like Vanguard cutting their positions pretty hard. Vanguard's international fund dumped over 65% of its Syrah holdings, and their developed markets fund was even more aggressive, cutting 75%. These aren't tiny adjustments, so it signals some real portfolio repositioning.

Total institutional shares fell about 7.6% to just over 26 million. There are still 23 funds holding Syrah, down from 30 last quarter. The stock was trading around $0.29 when this data came through, so the new $0.31 target suggests maybe 5-6% upside if analysts are right. Interesting to watch how this develops.