WhiteFiber (NASDAQ:WYFI) Shares Gap Down – Time to Sell?

Shares of WhiteFiber, Inc. (NASDAQ:WYFI) gapped down prior to trading on Tuesday . The stock had previously closed at $44.77, but opened at $40.43. WhiteFiber shares last traded at $45.3360, with a volume of 822,135 shares trading hands.

Analyst Ratings Changes

WYFI has been the subject of a number of analyst reports. Needham & Company LLC increased their price objective on WhiteFiber from $36.00 to $38.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Weiss Ratings reiterated a “sell (d)” rating on shares of WhiteFiber in a report on Friday, March 27th. B. Riley Financial reissued a “buy” rating on shares of WhiteFiber in a research report on Monday, May 18th. Cantor Fitzgerald raised their price target on shares of WhiteFiber from $13.00 to $27.00 and gave the stock a “neutral” rating in a report on Friday, May 15th. Finally, Barclays started coverage on shares of WhiteFiber in a research report on Tuesday, June 9th. They issued an “equal weight” rating and a $27.00 price objective on the stock. Ten equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, WhiteFiber presently has an average rating of “Moderate Buy” and an average price target of $33.42.

WhiteFiber Price Performance

The company has a current ratio of 2.77, a quick ratio of 2.77 and a debt-to-equity ratio of 0.63. The business’s 50 day moving average price is $24.50 and its two-hundred day moving average price is $19.62. The stock has a market cap of $1.53 billion and a P/E ratio of -27.25.

WhiteFiber (NASDAQ:WYFI) last released its quarterly earnings results on Thursday, May 14th. The company reported ($0.31) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.07). The company had revenue of $21.92 million during the quarter. WhiteFiber had a negative return on equity of 9.40% and a negative net margin of 45.24%.The firm’s quarterly revenue was up 30.4% compared to the same quarter last year. As a group, sell-side analysts expect that WhiteFiber, Inc. will post -1.01 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in WYFI. Royal Bank of Canada grew its stake in WhiteFiber by 108.2% in the fourth quarter. Royal Bank of Canada now owns 2,394 shares of the company’s stock worth $37,000 after purchasing an additional 1,244 shares during the period. Strs Ohio purchased a new position in WhiteFiber during the fourth quarter valued at $30,000. Shikiar Asset Management Inc. boosted its holdings in shares of WhiteFiber by 4.9% during the 4th quarter. Shikiar Asset Management Inc. now owns 48,790 shares of the company’s stock valued at $771,000 after buying an additional 2,290 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of WhiteFiber by 5.3% during the 4th quarter. Russell Investments Group Ltd. now owns 49,513 shares of the company’s stock valued at $782,000 after buying an additional 2,477 shares in the last quarter. Finally, Police & Firemen s Retirement System of New Jersey purchased a new stake in shares of WhiteFiber in the 4th quarter worth about $44,000.

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.