WhiteFiber (NASDAQ:WYFI) Stock Price Up 6% – Here’s What Happened

WhiteFiber, Inc. (NASDAQ:WYFI) traded up 6% on Friday . The company traded as high as $21.82 and last traded at $20.88. 821,021 shares traded hands during mid-day trading, a decline of 19% from the average session volume of 1,012,426 shares. The stock had previously closed at $19.69.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on WYFI shares. Needham & Company LLC reduced their price target on shares of WhiteFiber from $45.00 to $38.00 and set a “buy” rating on the stock in a report on Friday, November 14th. HC Wainwright reissued a “buy” rating and issued a $34.00 target price on shares of WhiteFiber in a report on Monday, December 22nd. Macquarie upped their price target on shares of WhiteFiber from $28.00 to $32.00 and gave the company an “outperform” rating in a research note on Friday, September 26th. UBS Group set a $51.00 price objective on shares of WhiteFiber in a research note on Monday, October 6th. Finally, JMP Securities set a $37.00 target price on shares of WhiteFiber in a research report on Wednesday, November 19th. Nine 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $36.30.

WhiteFiber Trading Up 2.8%

The company’s 50 day simple moving average is $18.04. The stock has a market capitalization of $774.77 million and a price-to-earnings ratio of -43.09.

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

Institutional Trading of WhiteFiber

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Shikiar Asset Management Inc. grew its holdings in shares of WhiteFiber by 4.9% in the fourth quarter. Shikiar Asset Management Inc. now owns 48,790 shares of the company’s stock worth $771,000 after purchasing an additional 2,290 shares during the last quarter. CCG Wealth Management LLC purchased a new position in shares of WhiteFiber during the fourth quarter worth approximately $263,000. JPMorgan Chase & Co. bought a new stake in shares of WhiteFiber during the third quarter valued at approximately $2,718,000. Penn Capital Management Company LLC bought a new position in WhiteFiber in the third quarter worth approximately $546,000. Finally, Advisory Services Network LLC purchased a new position in WhiteFiber during the 3rd quarter worth $759,000.

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.