WhiteFiber (NASDAQ:WYFI) Trading Down 8.1% – What’s Next?

Shares of WhiteFiber, Inc. (NASDAQ:WYFI) dropped 8.1% on Friday . The stock traded as low as $15.36 and last traded at $15.4120. Approximately 911,785 shares traded hands during mid-day trading, a decline of 0% from the average daily volume of 912,398 shares. The stock had previously closed at $16.77.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Citizens Jmp set a $37.00 price target on WhiteFiber in a report on Wednesday, November 19th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of WhiteFiber in a research report on Monday, December 29th. Compass Point assumed coverage on shares of WhiteFiber in a research note on Tuesday, December 16th. They issued a “buy” rating and a $32.00 target price for the company. B. Riley Financial decreased their target price on shares of WhiteFiber from $44.00 to $40.00 and set a “buy” rating for the company in a research report on Wednesday, December 24th. Finally, HC Wainwright restated a “buy” rating and set a $34.00 price target on shares of WhiteFiber in a research note on Monday, January 26th. Nine investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.22.

WhiteFiber Stock Performance

The company has a market cap of $602.60 million and a P/E ratio of -33.51. The firm has a 50 day moving average price of $18.24 and a 200-day moving average price of $21.61.

Hedge Funds Weigh In On WhiteFiber

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WYFI. Gladstone Institutional Advisory LLC acquired a new position in WhiteFiber during the third quarter valued at approximately $349,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of WhiteFiber during the 3rd quarter worth $1,167,000. Principal Financial Group Inc. acquired a new position in WhiteFiber in the 3rd quarter valued at $1,534,000. J.W. Cole Advisors Inc. acquired a new position in WhiteFiber in the 3rd quarter valued at $260,000. Finally, JPMorgan Chase & Co. bought a new position in WhiteFiber in the 3rd quarter worth $2,718,000.

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.