Insider Selling: WhiteFiber (NASDAQ:WYFI) Director Sells $212,617.08 in Stock

WhiteFiber, Inc. (NASDAQ:WYFI) Director Ichi Shih sold 7,059 shares of the company’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $30.12, for a total value of $212,617.08. Following the completion of the sale, the director owned 4,657 shares in the company, valued at $140,268.84. This trade represents a 60.25% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

WhiteFiber Price Performance

Shares of WYFI opened at $18.78 on Friday. The business has a 50-day moving average of $26.91 and a 200-day moving average of $23.12. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.79 and a quick ratio of 0.79. The company has a market capitalization of $729.60 million and a price-to-earnings ratio of -10.21. WhiteFiber, Inc. has a 1 year low of $10.51 and a 1 year high of $46.87.

WhiteFiber (NASDAQ:WYFI) last announced 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 business had revenue of $28.84 million for the quarter. As a group, equities research analysts anticipate that WhiteFiber, Inc. will post -0.97 earnings per share for the current year.

Hedge Funds Weigh In On WhiteFiber

A number of large investors have recently modified their holdings of the company. Strs Ohio acquired a new stake in WhiteFiber in the 4th quarter valued at $30,000. Royal Bank of Canada lifted its stake in shares of WhiteFiber by 108.2% in the fourth quarter. Royal Bank of Canada now owns 2,394 shares of the company’s stock valued at $37,000 after buying an additional 1,244 shares in the last quarter. Police & Firemen s Retirement System of New Jersey acquired a new position in shares of WhiteFiber during the fourth quarter valued at about $44,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of WhiteFiber during the fourth quarter worth about $55,000. Finally, MetLife Investment Management LLC bought a new stake in shares of WhiteFiber during the fourth quarter worth about $106,000.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on WYFI. BTIG Research reissued a “buy” rating and set a $50.00 target price on shares of WhiteFiber in a research note on Wednesday, August 12th. Weiss Ratings downgraded WhiteFiber from a “sell (d)” rating to a “sell (d-)” rating in a report on Wednesday, August 12th. Barclays boosted their price objective on WhiteFiber from $29.00 to $32.00 and gave the company an “equal weight” rating in a research note on Friday, August 14th. Needham & Company LLC upped their target price on WhiteFiber from $38.00 to $41.00 and gave the company a “buy” rating in a research report on Thursday, August 13th. Finally, B. Riley Financial reiterated a “buy” rating on shares of WhiteFiber in a report on Monday, May 18th. Ten analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $38.64.

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.