WhiteFiber (NASDAQ:WYFI) Trading Up 13.1% – Here’s Why

Shares of WhiteFiber, Inc. (NASDAQ:WYFI) shot up 13.1% during trading on Wednesday . The stock traded as high as $20.95 and last traded at $20.84. 1,586,776 shares changed hands during mid-day trading, an increase of 126% from the average session volume of 700,708 shares. The stock had previously closed at $18.43.

Wall Street Analyst Weigh In

WYFI has been the topic of a number of recent analyst reports. HC Wainwright reissued a “buy” rating and issued a $34.00 price objective on shares of WhiteFiber in a research note on Monday, December 22nd. Citizens Jmp started coverage on WhiteFiber in a report on Wednesday, November 19th. They issued a “market outperform” rating and a $37.00 target price on the stock. B. Riley lowered their price target on WhiteFiber from $44.00 to $40.00 and set a “buy” rating for the company in a report on Wednesday, December 24th. UBS Group set a $51.00 price objective on WhiteFiber in a research note on Monday, October 6th. Finally, JMP Securities set a $37.00 target price on WhiteFiber in a research report on Wednesday, November 19th. Nine equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, WhiteFiber currently has a consensus rating of “Moderate Buy” and an average price target of $36.30.

WhiteFiber Stock Performance

The stock has a fifty day moving average price of $18.41. The stock has a market capitalization of $744.92 million and a price-to-earnings ratio of -41.43.

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

Hedge Funds Weigh In On WhiteFiber

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

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.