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

WhiteFiber, Inc. (NASDAQ:WYFI)’s stock price was up 12% during trading on Monday . The company traded as high as $35.75 and last traded at $35.22. 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.

Wall Street Analyst Weigh In

Several analysts recently commented on WYFI shares. Needham & Company LLC lifted their price objective on WhiteFiber from $36.00 to $38.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Barclays assumed coverage on WhiteFiber in a report on Tuesday, June 9th. They issued an “equal weight” rating and a $27.00 target price on the stock. B. Riley Financial restated a “buy” rating on shares of WhiteFiber in a research note on Monday, May 18th. Cantor Fitzgerald upped their price target on shares of WhiteFiber from $13.00 to $27.00 and gave the company a “neutral” rating in a research report on Friday, May 15th. Finally, BTIG Research increased their price objective on shares of WhiteFiber from $35.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, June 24th. Ten investment 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. Based on data from MarketBeat, WhiteFiber presently has an average rating of “Moderate Buy” and a consensus price target of $34.67.

WhiteFiber Stock Performance

The company has a debt-to-equity ratio of 0.63, a quick ratio of 2.77 and a current ratio of 2.77. The business’s fifty day simple moving average is $28.24 and its 200-day simple moving average is $20.75. The firm has a market capitalization of $1.35 billion and a PE ratio of -24.05.

WhiteFiber (NASDAQ:WYFI) last released its earnings results 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 company had revenue of $21.92 million during the quarter. The company’s quarterly revenue was up 30.4% on a year-over-year basis. As a group, equities research analysts expect that WhiteFiber, Inc. will post -1.01 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in WYFI. JPMorgan Chase & Co. purchased a new stake in shares of WhiteFiber in the third quarter worth about $2,718,000. Vanguard Group Inc. purchased a new position in WhiteFiber during the 3rd quarter valued at approximately $6,563,000. Russell Investments Group Ltd. bought a new stake in WhiteFiber in the 3rd quarter worth approximately $1,278,000. Van ECK Associates Corp bought a new stake in WhiteFiber in the 3rd quarter worth approximately $579,000. Finally, UBS Group AG purchased a new stake in shares of WhiteFiber during the 3rd quarter worth approximately $763,000.

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.