WhiteFiber (NASDAQ:WYFI) Trading Down 8.9% – Here’s What Happened

WhiteFiber, Inc. (NASDAQ:WYFI) was down 8.9% during mid-day trading on Friday . The company traded as low as $24.43 and last traded at $24.71. Approximately 282,044 shares changed hands during trading, a decline of 82% from the average session volume of 1,551,649 shares. The stock had previously closed at $27.11.

Analyst Ratings Changes

A number of brokerages recently commented on WYFI. BTIG Research upped their price target on shares of WhiteFiber from $35.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, June 24th. Needham & Company LLC raised their price objective on shares of WhiteFiber from $36.00 to $38.00 and gave the stock 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 WhiteFiber from $34.00 to $20.00 and set a “buy” rating on the stock in a research report on Friday, March 27th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of WhiteFiber in a research note on Wednesday, June 24th. Ten 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. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $34.83.

WhiteFiber Stock Down 7.5%

The company has a current ratio of 2.77, a quick ratio of 2.77 and a debt-to-equity ratio of 0.63. The firm has a market cap of $968.72 million and a price-to-earnings ratio of -17.56. The firm’s 50 day simple moving average is $31.28 and its two-hundred day simple moving average is $22.25.

WhiteFiber (NASDAQ:WYFI) last announced its 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 business had revenue of $21.92 million for the quarter. The company’s revenue for the quarter was up 30.4% on a year-over-year basis. On average, equities analysts forecast that WhiteFiber, Inc. will post -1.26 EPS for the current year.

Institutional Investors Weigh In On WhiteFiber

A number of large investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. bought a new position in WhiteFiber during the 3rd quarter worth $2,718,000. Vanguard Group Inc. bought a new stake in shares of WhiteFiber during the 3rd quarter valued at $6,563,000. Russell Investments Group Ltd. acquired a new stake in shares of WhiteFiber during the 3rd quarter worth $1,278,000. Van ECK Associates Corp acquired a new stake in shares of WhiteFiber during the 3rd quarter worth $579,000. Finally, UBS Group AG bought a new position in shares of WhiteFiber in the third quarter worth $763,000.

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.