Needham & Company LLC Lowers WhiteFiber (NASDAQ:WYFI) Price Target to $38.00

WhiteFiber (NASDAQ:WYFI) had its price target cut by equities researchers at Needham & Company LLC from $45.00 to $38.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC’s target price points to a potential upside of 101.48% from the stock’s current price.

Several other equities analysts have also weighed in on the company. B. Riley restated a “buy” rating on shares of WhiteFiber in a research note on Wednesday, October 22nd. HC Wainwright began coverage on WhiteFiber in a research report on Wednesday, October 1st. They set a “buy” rating and a $34.00 price objective for the company. Wall Street Zen downgraded WhiteFiber from a “hold” rating to a “sell” rating in a research note on Friday, September 5th. Roth Capital lifted their price objective on WhiteFiber from $28.00 to $42.00 and gave the company a “buy” rating in a report on Tuesday, October 28th. Finally, Zacks Research raised shares of WhiteFiber to a “hold” rating in a research note on Wednesday, September 3rd. Six research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, WhiteFiber presently has an average rating of “Moderate Buy” and an average price target of $35.86.

WhiteFiber Trading Down 5.1%

Shares of WhiteFiber stock traded down $1.01 during trading on Friday, reaching $18.86. 1,128,983 shares of the stock were exchanged, compared to its average volume of 1,197,380. The stock’s fifty day moving average is $28.40. WhiteFiber has a 1 year low of $14.01 and a 1 year high of $40.75.

WhiteFiber (NASDAQ:WYFI) last announced its quarterly earnings results on Thursday, November 13th. The company reported ($0.47) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.35). The company had revenue of $20.18 million for the quarter, compared to the consensus estimate of $21.18 million. The firm’s quarterly revenue was up 64.2% on a year-over-year basis.

Institutional Investors Weigh In On WhiteFiber

Hedge funds have recently modified their holdings of the stock. J.W. Cole Advisors Inc. bought a new stake in WhiteFiber during the 3rd quarter valued at approximately $260,000. Gladstone Institutional Advisory LLC acquired a new position in WhiteFiber during the 3rd quarter valued at $349,000. Van ECK Associates Corp acquired a new stake in WhiteFiber in the 3rd quarter worth $579,000. Ghisallo Capital Management LLC bought a new stake in shares of WhiteFiber during the third quarter valued at approximately $679,000. Finally, UBS Group AG acquired a new stake in shares of WhiteFiber during the 3rd quarter valued at about $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”).