WhiteFiber (NASDAQ:WYFI) Shares Gap Down – Time to Sell?

Shares of WhiteFiber, Inc. (NASDAQ:WYFI) gapped down before the market opened on Thursday . The stock had previously closed at $20.32, but opened at $19.72. WhiteFiber shares last traded at $19.45, with a volume of 692,157 shares.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. UBS Group set a $51.00 target price on shares of WhiteFiber in a report on Monday, October 6th. Citigroup assumed coverage on shares of WhiteFiber in a research report on Wednesday, November 19th. They set an “outperform” rating for the company. B. Riley reduced their price objective on WhiteFiber from $44.00 to $40.00 and set a “buy” rating on the stock in a research note on Wednesday, December 24th. HC Wainwright reissued a “buy” rating and issued a $34.00 target price on shares of WhiteFiber in a research note on Monday, December 22nd. Finally, Macquarie increased their target price on WhiteFiber from $28.00 to $32.00 and gave the company an “outperform” rating in a report on Friday, September 26th. Nine equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $36.30.

WhiteFiber Stock Up 2.5%

The firm’s 50 day moving average price is $18.08. The stock has a market capitalization of $772.09 million and a PE ratio of -42.94.

WhiteFiber (NASDAQ:WYFI) last announced its quarterly 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 company had revenue of $20.18 million during the quarter, compared to the consensus estimate of $21.18 million. The company’s quarterly revenue was up 64.2% on a year-over-year basis.

Institutional Trading of WhiteFiber

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