WhiteFiber (NASDAQ:WYFI) Stock Price Up 12% – Here’s Why

WhiteFiber, Inc. (NASDAQ:WYFI) shares traded up 12% on Monday . The stock traded as high as $35.75 and last traded at $35.22. Approximately 566,635 shares were traded during mid-day trading, a decline of 59% from the average daily volume of 1,374,702 shares. The stock had previously closed at $31.44.

Analysts Set New Price Targets

WYFI has been the subject of several research reports. Needham & Company LLC increased their price objective on shares of WhiteFiber from $36.00 to $38.00 and gave the company a “buy” rating in a research report on Friday, May 15th. B. Riley Financial restated a “buy” rating on shares of WhiteFiber in a report on Monday, May 18th. HC Wainwright decreased their target price on shares of WhiteFiber from $34.00 to $20.00 and set a “buy” rating on the stock in a research report on Friday, March 27th. Cantor Fitzgerald increased their price target on shares of WhiteFiber from $13.00 to $27.00 and gave the company a “neutral” rating in a report on Friday, May 15th. Finally, Barclays initiated coverage on WhiteFiber in a research report on Tuesday, June 9th. They issued an “equal weight” rating and a $27.00 price target for the company. Ten equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, WhiteFiber currently has a consensus rating of “Moderate Buy” and an average price target of $34.67.

WhiteFiber Stock Up 11.3%

The company has a market cap of $1.35 billion and a PE ratio of -24.05. The company has a fifty day moving average of $28.24 and a two-hundred day moving average of $20.75. The company has a debt-to-equity ratio of 0.63, a quick ratio of 2.77 and a current ratio of 2.77.

WhiteFiber (NASDAQ:WYFI) last posted its quarterly earnings data on Thursday, May 14th. The company reported ($0.31) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.07). WhiteFiber had a negative return on equity of 9.40% and a negative net margin of 45.24%.The firm had revenue of $21.92 million for the quarter. The firm’s revenue for the quarter was up 30.4% compared to the same quarter last year. As a group, analysts anticipate that WhiteFiber, Inc. will post -1.01 earnings per share for the current fiscal year.

Hedge Funds Weigh In On WhiteFiber

Hedge funds have recently added to or reduced their stakes in the company. Royal Bank of Canada raised 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 period. Strs Ohio purchased a new position in shares of WhiteFiber during the fourth quarter valued at approximately $30,000. Shikiar Asset Management Inc. boosted its position in shares of WhiteFiber by 4.9% during the fourth quarter. Shikiar Asset Management Inc. now owns 48,790 shares of the company’s stock valued at $771,000 after buying an additional 2,290 shares during the period. Russell Investments Group Ltd. grew its stake in shares of WhiteFiber by 5.3% during the fourth quarter. Russell Investments Group Ltd. now owns 49,513 shares of the company’s stock valued at $782,000 after buying an additional 2,477 shares during the last quarter. Finally, Police & Firemen s Retirement System of New Jersey bought a new position in shares of WhiteFiber during the fourth quarter valued at approximately $44,000.

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.