WhiteFiber (NASDAQ:WYFI) Director Sells 7,059 Shares of Stock

WhiteFiber, Inc. (NASDAQ:WYFI) Director Ichi Shih sold 7,059 shares of WhiteFiber stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $30.12, for a total value of $212,617.08. Following the completion of the transaction, the director owned 4,657 shares of the company’s stock, valued at approximately $140,268.84. This represents a 60.25% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

WhiteFiber Trading Down 7.5%

WYFI stock traded down $1.42 during midday trading on Tuesday, reaching $17.50. 2,074,929 shares of the company traded hands, compared to its average volume of 1,749,261. The firm has a market capitalization of $679.88 million and a price-to-earnings ratio of -9.51. WhiteFiber, Inc. has a 52-week low of $10.51 and a 52-week high of $46.87. The business has a 50 day moving average of $28.24 and a 200-day moving average of $23.14. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.79 and a current ratio of 0.79.

WhiteFiber (NASDAQ:WYFI) last announced its 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. The firm had revenue of $28.84 million during the quarter. WhiteFiber had a negative return on equity of 10.72% and a negative net margin of 46.87%. As a group, sell-side analysts expect that WhiteFiber, Inc. will post -0.97 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have weighed in on WYFI shares. Barclays boosted their price objective on shares of WhiteFiber from $29.00 to $32.00 and gave the company an “equal weight” rating in a research report on Friday, August 14th. Needham & Company LLC lifted their price target on shares of WhiteFiber from $38.00 to $41.00 and gave the stock a “buy” rating in a research note on Thursday, August 13th. Cantor Fitzgerald upgraded shares of WhiteFiber from a “neutral” rating to an “overweight” rating and upped their price target for the company from $27.00 to $36.00 in a report on Thursday, August 13th. Weiss Ratings lowered shares of WhiteFiber from a “sell (d)” rating to a “sell (d-)” rating in a research report on Wednesday, August 12th. Finally, BTIG Research reissued a “buy” rating and issued a $50.00 price objective on shares of WhiteFiber in a research note on Wednesday, August 12th. Eleven research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.08.

Hedge Funds Weigh In On WhiteFiber

Several hedge funds have recently bought and sold shares of WYFI. Strs Ohio purchased a new stake in shares of WhiteFiber during the fourth quarter valued at $30,000. Royal Bank of Canada increased its stake in WhiteFiber by 108.2% in the 4th quarter. Royal Bank of Canada now owns 2,394 shares of the company’s stock worth $37,000 after buying an additional 1,244 shares during the period. Police & Firemen s Retirement System of New Jersey bought a new stake in WhiteFiber during the 4th quarter valued at about $44,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in WhiteFiber during the 4th quarter valued at about $55,000. Finally, MetLife Investment Management LLC purchased a new stake in WhiteFiber in the 4th quarter valued at about $106,000.

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.