WhiteFiber (NASDAQ:WYFI) Sets New 1-Year Low – What’s Next?

WhiteFiber, Inc. (NASDAQ:WYFI) shares hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $13.91 and last traded at $14.01, with a volume of 544606 shares changing hands. The stock had previously closed at $14.17.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on WYFI shares. Compass Point started coverage on shares of WhiteFiber in a report on Tuesday. They issued a “buy” rating and a $32.00 target price on the stock. Citizens Jmp began coverage on shares of WhiteFiber in a report on Wednesday, November 19th. They issued a “market outperform” rating and a $37.00 price target on the stock. Weiss Ratings reissued a “sell (d)” rating on shares of WhiteFiber in a report on Monday. Craig Hallum started coverage on WhiteFiber in a research report on Tuesday, September 2nd. They set a “buy” rating and a $25.00 price objective for the company. Finally, Needham & Company LLC dropped their price target on WhiteFiber from $45.00 to $38.00 and set a “buy” rating for the company in a research note on Friday, November 14th. Nine analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $35.70.

WhiteFiber Price Performance

The firm’s 50-day moving average is $25.11.

WhiteFiber (NASDAQ:WYFI) last posted its quarterly earnings data on Thursday, November 13th. The company reported ($0.47) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.35). The business had revenue of $20.18 million for the quarter, compared to the consensus estimate of $21.18 million. The firm’s revenue for the quarter was up 64.2% compared to the same quarter last year.

Institutional Investors Weigh In On WhiteFiber

Several hedge funds and other institutional investors have recently modified their holdings of WYFI. Monashee Investment Management LLC purchased a new stake in WhiteFiber in the third quarter worth $9,645,000. Marshall Wace LLP bought a new position in shares of WhiteFiber in the third quarter worth about $9,105,000. Wasatch Advisors LP purchased a new position in WhiteFiber in the 3rd quarter worth about $8,382,000. Clearfield Capital Management LP bought a new stake in WhiteFiber during the 3rd quarter valued at about $6,778,000. Finally, Vanguard Group Inc. purchased a new stake in WhiteFiber in the 3rd quarter valued at about $6,563,000.

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”).