WhiteFiber (NASDAQ:WYFI) Trading 20.1% Higher – Here’s What Happened

WhiteFiber, Inc. (NASDAQ:WYFI) traded up 20.1% during trading on Thursday . The stock traded as high as $24.72 and last traded at $24.7230. Approximately 379,081 shares were traded during trading, a decline of 76% from the average daily volume of 1,566,330 shares. The stock had previously closed at $20.58.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. B. Riley Financial reaffirmed a “buy” rating on shares of WhiteFiber in a research note on Monday, May 18th. BTIG Research boosted their price target 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. Cantor Fitzgerald increased their price target on shares of WhiteFiber from $13.00 to $27.00 and gave the stock a “neutral” rating in a report on Friday, May 15th. Barclays raised their price objective on shares of WhiteFiber from $27.00 to $29.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 21st. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of WhiteFiber in a report on Wednesday, June 24th. Ten analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.83.

WhiteFiber Stock Down 9.7%

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 stock has a 50 day simple moving average of $30.95 and a 200 day simple moving average of $22.46. The firm has a market capitalization of $915.06 million and a PE ratio of -16.34.

WhiteFiber (NASDAQ:WYFI) last released its quarterly earnings data on Thursday, May 14th. The company reported ($0.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.07). WhiteFiber had a negative net margin of 45.24% and a negative return on equity of 9.40%. The company had revenue of $21.92 million for the quarter. The firm’s revenue for the quarter was up 30.4% on a year-over-year basis. As a group, sell-side analysts forecast that WhiteFiber, Inc. will post -1.26 earnings per share for the current year.

Institutional Investors Weigh In On WhiteFiber

Large investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. purchased a new stake in shares of WhiteFiber during the third quarter worth about $2,718,000. Galaxy Digital Inc. purchased a new position in WhiteFiber during the 1st quarter valued at about $834,000. Situational Awareness LP purchased a new position in WhiteFiber during the 4th quarter valued at about $27,770,000. Buffalo Business & Estate Services Ltd. bought a new position in WhiteFiber during the 1st quarter valued at approximately $602,000. Finally, CenterBook Partners LP purchased a new stake in WhiteFiber in the 4th quarter worth approximately $3,873,000.

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.