WhiteFiber (NASDAQ:WYFI) Stock Price Up 8.5% – Still a Buy?

WhiteFiber, Inc. (NASDAQ:WYFI)’s stock price traded up 8.5% during trading on Friday . The stock traded as high as $20.11 and last traded at $19.74. 246,777 shares traded hands during mid-day trading, a decline of 77% from the average session volume of 1,095,399 shares. The stock had previously closed at $18.19.

Analyst Ratings Changes

Several brokerages have recently issued reports on WYFI. Citigroup initiated coverage on shares of WhiteFiber in a report on Wednesday, November 19th. They issued an “outperform” rating for the company. Compass Point started coverage on WhiteFiber in a research note on Tuesday, December 16th. They issued a “buy” rating and a $32.00 target price for the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of WhiteFiber in a research report on Monday, December 29th. JMP Securities set a $37.00 price objective on WhiteFiber in a report on Wednesday, November 19th. Finally, Citizens Jmp started coverage on WhiteFiber in a research note on Wednesday, November 19th. They set a “market outperform” rating and a $37.00 target price for the company. Nine research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, WhiteFiber currently has an average rating of “Moderate Buy” and an average target price of $36.30.

WhiteFiber Price Performance

The stock has a market cap of $743.01 million and a P/E ratio of -41.32. The firm’s fifty day moving average price is $18.18.

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

Institutional Trading of WhiteFiber

Hedge funds and other institutional investors have recently made changes to their positions in the business. Strs Ohio acquired a new position in WhiteFiber during the fourth quarter worth $30,000. Police & Firemen s Retirement System of New Jersey acquired a new position in shares of WhiteFiber during the 4th quarter worth about $44,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of WhiteFiber in the 4th quarter valued at about $55,000. MetLife Investment Management LLC acquired a new stake in shares of WhiteFiber in the fourth quarter valued at about $106,000. Finally, Deutsche Bank AG bought a new stake in WhiteFiber during the fourth quarter worth about $115,000.

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.