WhiteFiber (NASDAQ:WYFI) Shares Up 5.9% – Time to Buy?

WhiteFiber, Inc. (NASDAQ:WYFI) shot up 5.9% during trading on Tuesday . The company traded as high as $24.91 and last traded at $25.1750. 637,735 shares traded hands during trading, a decline of 43% from the average session volume of 1,114,982 shares. The stock had previously closed at $23.77.

Analysts Set New Price Targets

Several research analysts recently commented on WYFI shares. Cantor Fitzgerald boosted their price objective on shares of WhiteFiber from $13.00 to $27.00 and gave the stock a “neutral” rating in a research note on Friday. Weiss Ratings reiterated a “sell (d)” rating on shares of WhiteFiber in a research note on Friday, March 27th. HC Wainwright reduced their price objective on shares of WhiteFiber from $34.00 to $20.00 and set a “buy” rating for the company in a research note on Friday, March 27th. B. Riley Financial restated a “buy” rating on shares of WhiteFiber in a research note on Monday. Finally, Needham & Company LLC upped their target price on WhiteFiber from $36.00 to $38.00 and gave the company a “buy” rating in a research report on Friday. Ten analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $34.00.

WhiteFiber Stock Up 5.4%

The company has a debt-to-equity ratio of 0.63, a quick ratio of 2.77 and a current ratio of 2.77. The company has a market capitalization of $967.45 million and a price-to-earnings ratio of -22.02. The business’s 50 day moving average is $16.56 and its 200 day moving average is $18.53.

WhiteFiber (NASDAQ:WYFI) last issued 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). WhiteFiber had a negative net margin of 45.24% and a negative return on equity of 9.40%. The company had revenue of $21.92 million for the quarter. The company’s revenue for the quarter was up 30.4% on a year-over-year basis. Sell-side analysts anticipate that WhiteFiber, Inc. will post -0.93 earnings per share for the current year.

Institutional Trading of WhiteFiber

Several large investors have recently added to or reduced their stakes in the company. Fortress Investment Group LLC acquired a new stake in WhiteFiber during the 3rd quarter worth about $4,301,000. JPMorgan Chase & Co. acquired a new position in shares of WhiteFiber in the 3rd quarter valued at about $2,718,000. Monashee Investment Management LLC acquired a new position in shares of WhiteFiber in the 3rd quarter valued at about $9,645,000. Principal Financial Group Inc. acquired a new position in shares of WhiteFiber in the 3rd quarter valued at about $1,534,000. Finally, Clearfield Capital Management LP acquired a new position in shares of WhiteFiber in the 3rd quarter valued at about $6,778,000.

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.