BTIG Research Boosts WhiteFiber (NASDAQ:WYFI) Price Target to $35.00

WhiteFiber (NASDAQ:WYFI) had its price objective boosted by stock analysts at BTIG Research from $20.00 to $35.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. BTIG Research’s price target suggests a potential upside of 22.19% from the company’s current price.

Several other research analysts also recently issued reports on WYFI. Cantor Fitzgerald assumed coverage on shares of WhiteFiber in a research report on Thursday, April 9th. They set a “neutral” rating and a $13.00 price objective on the stock. HC Wainwright lowered their price objective 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. Needham & Company LLC lowered their price objective on shares of WhiteFiber from $38.00 to $36.00 and set a “buy” rating on the stock in a research report on Friday, March 27th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of WhiteFiber in a research report on Friday, March 27th. Ten equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, WhiteFiber currently has an average rating of “Moderate Buy” and an average target price of $32.55.

WhiteFiber Trading Up 6.0%

NASDAQ:WYFI traded up $1.61 during midday trading on Thursday, hitting $28.64. 3,493,559 shares of the company were exchanged, compared to its average volume of 1,030,872. The company has a fifty day simple moving average of $15.97 and a 200 day simple moving average of $18.72. WhiteFiber has a fifty-two week low of $10.51 and a fifty-two week high of $40.75. The company has a market capitalization of $1.10 billion and a PE ratio of -24.99.

WhiteFiber (NASDAQ:WYFI) last announced its quarterly 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). The company had revenue of $21.92 million for the quarter. The business’s revenue for the quarter was up 30.4% on a year-over-year basis. As a group, equities research analysts expect that WhiteFiber will post -0.93 EPS for the current year.

Institutional Trading of WhiteFiber

Hedge funds and other institutional investors have recently made changes to their positions in the company. Fortress Investment Group LLC purchased a new stake in WhiteFiber during the third quarter worth about $4,301,000. JPMorgan Chase & Co. purchased a new stake in WhiteFiber during the third quarter worth about $2,718,000. Monashee Investment Management LLC purchased a new stake in WhiteFiber during the third quarter worth about $9,645,000. Principal Financial Group Inc. purchased a new stake in WhiteFiber during the third quarter worth about $1,534,000. Finally, Clearfield Capital Management LP purchased a new stake in WhiteFiber during the third quarter worth about $6,778,000.

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.