WhiteFiber (NASDAQ:WYFI) Shares Down 7.5% – Here’s Why

WhiteFiber, Inc. (NASDAQ:WYFI)’s share price fell 7.5% during trading on Wednesday. The stock traded as low as $13.62 and last traded at $13.4430. 220,531 shares traded hands during mid-day trading, a decline of 87% from the average session volume of 1,682,466 shares. The stock had previously closed at $14.54.

Analyst Ratings Changes

A number of analysts have commented on WYFI shares. BTIG Research reiterated a “buy” rating and issued a $50.00 price objective on shares of WhiteFiber in a research report on Wednesday, August 12th. Needham & Company LLC boosted their price objective on WhiteFiber from $38.00 to $41.00 and gave the company a “buy” rating in a research report on Thursday, August 13th. Weiss Ratings lowered WhiteFiber from a “sell (d)” rating to a “sell (d-)” rating in a research note on Wednesday, August 12th. Barclays upped their target price on WhiteFiber from $29.00 to $32.00 and gave the company an “equal weight” rating in a research note on Friday, August 14th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $37.00 target price on shares of WhiteFiber in a research report on Thursday, September 3rd. Nine equities 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $38.00.

WhiteFiber Price Performance

The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.74. The stock has a market cap of $505.44 million, a price-to-earnings ratio of -7.07 and a beta of 6.32. The company’s 50-day moving average is $19.67 and its 200-day moving average is $23.48.

WhiteFiber (NASDAQ:WYFI) last announced 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. The firm had revenue of $28.84 million during the quarter. WhiteFiber had a negative net margin of 46.87% and a negative return on equity of 10.72%. Equities research analysts expect that WhiteFiber, Inc. will post -1.05 earnings per share for the current fiscal year.

Hedge Funds Weigh In On WhiteFiber

Several hedge funds and other institutional investors have recently modified their holdings of WYFI. State of Alaska Department of Revenue bought a new stake in WhiteFiber in the third quarter valued at $55,000. Polaris Financial Partners bought a new position in shares of WhiteFiber during the third quarter valued at $27,000. Tidal Investments LLC lifted its holdings in shares of WhiteFiber by 115.9% during the second quarter. Tidal Investments LLC now owns 125,510 shares of the company’s stock valued at $4,876,000 after acquiring an additional 67,379 shares during the period. WINTON GROUP Ltd acquired a new stake in shares of WhiteFiber in the 2nd quarter valued at $439,000. Finally, Integrated Wealth Concepts LLC acquired a new stake in shares of WhiteFiber in the 2nd quarter valued at $36,000.

About WhiteFiber

WhiteFiber, Inc (NASDAQ: WYFI) is a digital infrastructure company focused on providing data center and high-performance computing services. Its offerings are designed to support organizations that require scalable computing capacity, secure infrastructure and reliable network connectivity.

The company’s business activities include data center solutions, colocation, dedicated computing resources and cloud-related services. WhiteFiber also supports advanced workloads, including artificial intelligence and other applications that require substantial processing power and specialized infrastructure.

WhiteFiber serves business and technology customers through its digital infrastructure platform.