WhiteFiber (NASDAQ:WYFI) Stock Price Up 9.2% – What’s Next?

WhiteFiber, Inc. (NASDAQ:WYFI)’s share price was up 9.2% during trading on Wednesday . The company traded as high as $17.30 and last traded at $17.4330. Approximately 135,854 shares were traded during trading, a decline of 85% from the average daily volume of 898,150 shares. The stock had previously closed at $15.97.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on WYFI shares. Cantor Fitzgerald started coverage on WhiteFiber in a report on Thursday, April 9th. They set a “neutral” rating and a $13.00 price target on the stock. Weiss Ratings reissued a “sell (d)” rating on shares of WhiteFiber in a research report on Friday, March 27th. B. Riley Financial decreased their target price on WhiteFiber from $44.00 to $40.00 and set a “buy” rating for the company in a research report on Wednesday, December 24th. HC Wainwright decreased their target price on WhiteFiber from $34.00 to $20.00 and set a “buy” rating for the company in a research report on Friday, March 27th. Finally, Needham & Company LLC decreased their target price on WhiteFiber from $38.00 to $36.00 and set a “buy” rating for the company in a research report on Friday, March 27th. Ten analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $31.18.

WhiteFiber Stock Up 5.3%

The stock has a 50-day simple moving average of $15.50 and a 200-day simple moving average of $20.03. The firm has a market capitalization of $645.11 million and a PE ratio of -14.75.

WhiteFiber (NASDAQ:WYFI) last released its earnings results on Thursday, March 26th. The company reported ($0.67) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.53). The business had revenue of $23.56 million during the quarter, compared to analyst estimates of $23.07 million. Equities analysts forecast that WhiteFiber, Inc. will post -0.74 earnings per share for the current fiscal year.

Hedge Funds Weigh In On WhiteFiber

Several hedge funds have recently made changes to their positions in the stock. Royal Bank of Canada grew its position 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 purchasing an additional 1,244 shares in the last quarter. Strs Ohio purchased a new position in shares of WhiteFiber in the fourth quarter valued at $30,000. Shikiar Asset Management Inc. grew its position in shares of WhiteFiber by 4.9% in the fourth quarter. Shikiar Asset Management Inc. now owns 48,790 shares of the company’s stock valued at $771,000 after purchasing an additional 2,290 shares in the last quarter. Russell Investments Group Ltd. grew its position in shares of WhiteFiber by 5.3% in the fourth quarter. Russell Investments Group Ltd. now owns 49,513 shares of the company’s stock valued at $782,000 after purchasing an additional 2,477 shares in the last quarter. Finally, Police & Firemen s Retirement System of New Jersey purchased a new position in shares of WhiteFiber in the fourth quarter valued at $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.