WhiteFiber (NASDAQ:WYFI) Trading Down 7.1% – What’s Next?

WhiteFiber, Inc. (NASDAQ:WYFI) shares traded down 7.1% on Friday . The stock traded as low as $29.57 and last traded at $29.90. 482,905 shares traded hands during trading, a decline of 58% from the average session volume of 1,145,557 shares. The stock had previously closed at $32.18.

Wall Street Analyst Weigh In

WYFI has been the topic of several analyst reports. B. Riley Financial reiterated a “buy” rating on shares of WhiteFiber in a research note on Monday, May 18th. Needham & Company LLC boosted their price target on shares of WhiteFiber from $36.00 to $38.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. Cantor Fitzgerald boosted their price target on shares of WhiteFiber from $13.00 to $27.00 and gave the stock a “neutral” rating in a research note on Friday, May 15th. 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. Finally, BTIG Research upped their price target on shares of WhiteFiber from $20.00 to $35.00 and gave the company a “buy” rating in a report on Thursday, May 14th. Ten research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $34.00.

WhiteFiber Trading Down 6.9%

The stock’s fifty day simple moving average is $18.69 and its 200-day simple moving average is $18.42. The firm has a market cap of $1.16 billion and a PE ratio of -20.63. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.77 and a quick ratio of 2.77.

WhiteFiber (NASDAQ:WYFI) last posted its quarterly earnings results on Thursday, May 14th. The company reported ($0.31) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $21.92 million during the quarter. WhiteFiber’s revenue was up 30.4% on a year-over-year basis. On average, sell-side analysts forecast that WhiteFiber, Inc. will post -1.01 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Royal Bank of Canada raised its holdings in shares of WhiteFiber by 108.2% during the fourth 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. Strs Ohio purchased a new position in shares of WhiteFiber during the fourth quarter worth $30,000. Shikiar Asset Management Inc. increased its holdings in 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 buying an additional 2,290 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in 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 buying an additional 2,477 shares in the last quarter. Finally, Police & Firemen s Retirement System of New Jersey purchased a new position in 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.