Super Micro Computer stock (NASDAQ: SMCI) fell by about 6% in Tuesday’s trading and remains down 54% over the past month amid significant corporate governance concerns and questions about the company’s financial reporting.

After riding high on surging AI-related demand to start 2024, Supermicro has seen a precipitous valuation decline. Along with huge sell-offs for the stock, the strong sales and earnings growth the company has reported mean its stock could look quite cheap by many traditional valuation metrics.

The server maker disclosed it will be late with its quarterly filing in addition to its past annual one. Super Micro also said it needs additional time to find a new auditor.