WhiteFiber (NASDAQ:WYFI) Shares Gap Up – What’s Next?

WhiteFiber, Inc. (NASDAQ:WYFI) gapped up before the market opened on Thursday . The stock had previously closed at $17.41, but opened at $18.92. WhiteFiber shares last traded at $18.68, with a volume of 362,008 shares trading hands.

Analysts Set New Price Targets

WYFI has been the topic of a number of research reports. B. Riley restated a “buy” rating on shares of WhiteFiber in a research note on Wednesday, October 22nd. Macquarie upped their price target on shares of WhiteFiber from $28.00 to $32.00 and gave the company an “outperform” rating in a research note on Friday, September 26th. Wall Street Zen lowered shares of WhiteFiber from a “hold” rating to a “sell” rating in a research note on Friday, September 5th. JMP Securities set a $37.00 target price on WhiteFiber in a research report on Wednesday. Finally, Citigroup started coverage on WhiteFiber in a research report on Wednesday. They issued an “outperform” rating for the company. Eight analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $36.11.

WhiteFiber Trading Up 10.9%

The stock’s 50 day moving average is $28.32.

WhiteFiber (NASDAQ:WYFI) last announced its quarterly earnings results 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 analysts’ expectations of $21.18 million. The firm’s quarterly revenue was up 64.2% compared to the same quarter last year.

Institutional Trading of WhiteFiber

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

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”).