WhiteFiber (NASDAQ:WYFI) Shares Gap Down – Should You Sell?

WhiteFiber, Inc. (NASDAQ:WYFI) gapped down prior to trading on Wednesday . The stock had previously closed at $27.07, but opened at $22.13. WhiteFiber shares last traded at $19.9590, with a volume of 3,066,350 shares.

Analysts Set New Price Targets

A number of analysts recently commented on the company. BTIG Research reaffirmed a “buy” rating and set a $50.00 price objective on shares of WhiteFiber in a research note on Wednesday, August 12th. Barclays boosted their target price on shares of WhiteFiber from $29.00 to $32.00 and gave the company an “equal weight” rating in a research note on Friday, August 14th. Weiss Ratings lowered shares of WhiteFiber from a “sell (d)” rating to a “sell (d-)” rating in a report on Wednesday, August 12th. Needham & Company LLC raised their price target on shares of WhiteFiber from $38.00 to $41.00 and gave the stock a “buy” rating in a research note on Thursday, August 13th. Finally, Cantor Fitzgerald upgraded shares of WhiteFiber from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $27.00 to $36.00 in a report on Thursday, August 13th. Eleven investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, WhiteFiber has a consensus rating of “Moderate Buy” and a consensus target price of $36.08.

WhiteFiber Stock Down 1.0%

The firm has a fifty day moving average price of $30.40 and a 200-day moving average price of $23.06. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.74. The firm has a market cap of $822.02 million and a price-to-earnings ratio of -11.50.

WhiteFiber (NASDAQ:WYFI) last released its earnings results on Wednesday, August 12th. The company reported ($0.39) EPS for the quarter, beating the consensus estimate of ($0.40) by $0.01. WhiteFiber had a negative return on equity of 10.72% and a negative net margin of 46.87%.The firm had revenue of $28.84 million during the quarter. As a group, sell-side analysts forecast that WhiteFiber, Inc. will post -0.97 EPS for the current year.

Institutional Trading of WhiteFiber

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Strs Ohio acquired a new stake in WhiteFiber during the fourth quarter valued at $30,000. Royal Bank of Canada increased its position in WhiteFiber by 108.2% in the 4th quarter. Royal Bank of Canada now owns 2,394 shares of the company’s stock worth $37,000 after purchasing an additional 1,244 shares during the last quarter. Police & Firemen s Retirement System of New Jersey acquired a new position in WhiteFiber in the 4th quarter worth about $44,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of WhiteFiber during the 4th quarter worth about $55,000. Finally, CoreCap Advisors LLC acquired a new stake in shares of WhiteFiber during the 2nd quarter valued at about $235,000.

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.