WhiteFiber (NASDAQ:WYFI) Shares Up 10.8% – What’s Next?

WhiteFiber, Inc. (NASDAQ:WYFI)’s stock price shot up 10.8% on Monday . The company traded as high as $18.90 and last traded at $18.54. 721,370 shares were traded during mid-day trading, a decline of 41% from the average session volume of 1,217,816 shares. The stock had previously closed at $16.74.

Wall Street Analysts Forecast Growth

Several analysts have commented on WYFI shares. Needham & Company LLC lowered their target price on shares of WhiteFiber from $45.00 to $38.00 and set a “buy” rating for the company in a research note on Friday, November 14th. Wall Street Zen cut WhiteFiber from a “hold” rating to a “sell” rating in a report on Friday, September 5th. Craig Hallum began coverage on WhiteFiber in a research report on Tuesday, September 2nd. They issued a “buy” rating and a $25.00 price objective for the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of WhiteFiber in a research note on Monday, December 15th. Finally, Roth Capital dropped their target price on shares of WhiteFiber from $42.00 to $37.00 and set a “buy” rating for the company in a research report on Friday, November 14th. Nine analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, WhiteFiber currently has an average rating of “Moderate Buy” and an average target price of $35.70.

WhiteFiber Stock Up 12.2%

The business has a 50 day simple moving average of $24.38.

WhiteFiber (NASDAQ:WYFI) last posted its earnings results on Thursday, November 13th. The company reported ($0.47) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.35). The business had revenue of $20.18 million during the quarter, compared to the consensus estimate of $21.18 million. The company’s revenue was up 64.2% compared to the same quarter last year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Monashee Investment Management LLC acquired a new position in shares of WhiteFiber during the third quarter worth approximately $9,645,000. Marshall Wace LLP bought a new stake in WhiteFiber during the 3rd quarter valued at $9,105,000. Wasatch Advisors LP acquired a new position in WhiteFiber during the 3rd quarter worth $8,382,000. Clearfield Capital Management LP bought a new position in shares of WhiteFiber in the third quarter worth $6,778,000. Finally, Vanguard Group Inc. acquired a new position in shares of WhiteFiber during the third quarter valued at $6,563,000.

WhiteFiber Company Profile

We believe we are a leading provider of artificial intelligence (“AI”) infrastructure solutions. We own high-performance computing (“HPC”) data centers and provide cloud-based HPC graphics processing units (“GPU”) services, which we term cloud services, for customers such as AI application and machine learning (“ML”) developers (the “HPC Business”). Our Tier-3 data centers provide hosting and colocation services. Our cloud services support generative AI workstreams, especially training and inference.