WhiteFiber (NASDAQ:WYFI) Shares Down 11.3% – Here’s What Happened

Shares of WhiteFiber, Inc. (NASDAQ:WYFI) dropped 11.3% during mid-day trading on Friday . The company traded as low as $16.39 and last traded at $16.42. Approximately 359,803 shares changed hands during mid-day trading, a decline of 63% from the average daily volume of 967,922 shares. The stock had previously closed at $18.51.

Analysts Set New Price Targets

WYFI has been the topic of several recent analyst reports. B. Riley Financial cut their target price on WhiteFiber from $44.00 to $40.00 and set a “buy” rating on the stock in a research note on Wednesday, December 24th. Needham & Company LLC decreased their target price on WhiteFiber from $45.00 to $38.00 and set a “buy” rating for the company in a report on Friday, November 14th. Citigroup assumed coverage on shares of WhiteFiber in a report on Wednesday, November 19th. They issued an “outperform” rating on the stock. Roth Mkm reduced their price objective on shares of WhiteFiber from $42.00 to $37.00 and set a “buy” rating on the stock in a research report on Friday, November 14th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $34.00 target price on shares of WhiteFiber in a research report on Monday, January 26th. Nine research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $36.22.

WhiteFiber Price Performance

The stock’s 50-day moving average price is $18.33. The firm has a market capitalization of $639.32 million and a P/E ratio of -35.55.

Institutional Trading of WhiteFiber

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Principal Financial Group Inc. purchased a new stake in shares of WhiteFiber in the third quarter worth $1,534,000. Zweig DiMenna Associates LLC bought a new position in WhiteFiber in the 3rd quarter worth about $5,214,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in WhiteFiber during the 3rd quarter valued at about $1,167,000. Prelude Capital Management LLC bought a new stake in WhiteFiber during the 3rd quarter valued at about $258,000. Finally, Wexford Capital LP purchased a new position in WhiteFiber in the third quarter worth about $1,335,000.

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.