WhiteFiber (NASDAQ:WYFI) Shares Up 3.4% – What’s Next?

WhiteFiber, Inc. (NASDAQ:WYFI)’s share price rose 3.4% during mid-day trading on Monday . The company traded as high as $17.30 and last traded at $17.14. Approximately 76,662 shares changed hands during mid-day trading, a decline of 94% from the average daily volume of 1,205,412 shares. The stock had previously closed at $16.57.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. UBS Group set a $51.00 price objective on shares of WhiteFiber in a research note on Monday, October 6th. Compass Point started coverage on WhiteFiber in a report on Tuesday, December 16th. They set a “buy” rating and a $32.00 target price for the company. Weiss Ratings reiterated a “sell (d)” rating on shares of WhiteFiber in a research report on Monday. Citigroup initiated coverage on WhiteFiber in a research note on Wednesday, November 19th. They set an “outperform” rating for the company. Finally, Needham & Company LLC cut their target price on WhiteFiber from $45.00 to $38.00 and set a “buy” rating on the stock in a research note on Friday, November 14th. Nine research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $36.30.

WhiteFiber Stock Performance

The firm’s fifty day simple moving average is $22.02. The company has a market capitalization of $594.94 million and a P/E ratio of -33.09.

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

Institutional Trading of WhiteFiber

Several hedge funds have recently added to or reduced their stakes in WYFI. Prelude Capital Management LLC acquired a new stake in shares of WhiteFiber in the third quarter worth $258,000. J.W. Cole Advisors Inc. bought a new position in shares of WhiteFiber during the 3rd quarter worth about $260,000. Militia Capital Partners LP bought a new stake in WhiteFiber during the third quarter worth about $326,000. Gladstone Institutional Advisory LLC acquired a new position in shares of WhiteFiber during the third quarter worth approximately $349,000. Finally, Pentwater Capital Management LP bought a new stake in shares of WhiteFiber during the third quarter valued at approximately $353,000.

About WhiteFiber

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.