WhiteFiber (NASDAQ:WYFI) Shares Gap Down – Here’s What Happened

WhiteFiber, Inc. (NASDAQ:WYFI)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $20.86, but opened at $20.10. WhiteFiber shares last traded at $19.63, with a volume of 252,239 shares changing hands.

Wall Street Analysts Forecast Growth

WYFI has been the topic of several recent analyst reports. Needham & Company LLC dropped their target price on shares of WhiteFiber from $45.00 to $38.00 and set a “buy” rating on the stock in a report on Friday, November 14th. B. Riley cut their target price on WhiteFiber from $44.00 to $40.00 and set a “buy” rating on the stock in a research report on Wednesday, December 24th. Roth Capital lowered their target price on WhiteFiber from $42.00 to $37.00 and set a “buy” rating for the company in a report on Friday, November 14th. Macquarie increased their price target on WhiteFiber from $28.00 to $32.00 and gave the stock an “outperform” rating in a report on Friday, September 26th. Finally, Citigroup began coverage on shares of WhiteFiber in a research report on Wednesday, November 19th. They set an “outperform” rating for the company. Nine equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $36.30.

WhiteFiber Stock Performance

The stock has a fifty day moving average of $18.79. The stock has a market capitalization of $736.89 million and a price-to-earnings ratio of -40.98.

WhiteFiber (NASDAQ:WYFI) last released 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 firm had revenue of $20.18 million for the quarter, compared to analysts’ expectations of $21.18 million. The company’s revenue was up 64.2% on a year-over-year basis.

Institutional Trading of WhiteFiber

Hedge funds have recently made changes to their positions in the stock. Prelude Capital Management LLC bought a new position in shares of WhiteFiber during the 3rd quarter valued at about $258,000. J.W. Cole Advisors Inc. purchased a new stake in shares of WhiteFiber during the third quarter valued at approximately $260,000. Militia Capital Partners LP bought a new position in shares of WhiteFiber in the third quarter worth approximately $326,000. Gladstone Institutional Advisory LLC bought a new stake in WhiteFiber during the 3rd quarter valued at $349,000. Finally, Pentwater Capital Management LP bought a new stake in WhiteFiber in the 3rd quarter worth $353,000.

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.