WhiteFiber (NASDAQ:WYFI) Stock Price Down 8.5% – Here’s Why

WhiteFiber, Inc. (NASDAQ:WYFI)’s stock price fell 8.5% during mid-day trading on Tuesday . The company traded as low as $27.90 and last traded at $27.7810. Approximately 403,786 shares traded hands during trading, a decline of 74% from the average session volume of 1,570,623 shares. The stock had previously closed at $30.35.

Analysts Set New Price Targets

A number of equities research analysts have commented on WYFI shares. BTIG Research restated a “buy” rating and set a $50.00 target price on shares of WhiteFiber in a research note on Wednesday, August 12th. B. Riley Financial reiterated a “buy” rating on shares of WhiteFiber in a research report on Monday, May 18th. Needham & Company LLC increased their price objective on shares of WhiteFiber from $38.00 to $41.00 and gave the stock a “buy” rating in a research note on Thursday. Cantor Fitzgerald upgraded shares of WhiteFiber from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $27.00 to $36.00 in a research report on Thursday, August 13th. Finally, Barclays lifted their target price on shares of WhiteFiber from $29.00 to $32.00 and gave the company an “equal weight” rating in a research note on Friday. Eleven analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $36.08.

WhiteFiber Price Performance

The firm has a 50-day moving average of $30.42 and a 200-day moving average of $23.01. The stock has a market cap of $1.06 billion and a PE ratio of -14.87. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.79 and a quick ratio of 0.79.

WhiteFiber (NASDAQ:WYFI) last posted its quarterly earnings results on Wednesday, August 12th. The company reported ($0.39) EPS for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.01. WhiteFiber had a negative return on equity of 10.72% and a negative net margin of 46.87%.The company had revenue of $28.84 million for the quarter. Research analysts predict that WhiteFiber, Inc. will post -0.97 EPS for the current year.

Hedge Funds Weigh In On WhiteFiber

Hedge funds have recently modified their holdings of the stock. Galaxy Digital Inc. bought a new position in shares of WhiteFiber during the first quarter worth $834,000. Situational Awareness LP bought a new stake in WhiteFiber in the 4th quarter valued at $27,770,000. Sei Investments Co. increased its holdings in WhiteFiber by 196.0% in the 1st quarter. Sei Investments Co. now owns 72,138 shares of the company’s stock valued at $859,000 after acquiring an additional 47,770 shares during the last quarter. Buffalo Business & Estate Services Ltd. purchased a new stake in WhiteFiber in the 1st quarter worth $602,000. Finally, CenterBook Partners LP purchased a new stake in WhiteFiber in the 4th quarter worth $3,873,000.

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.