WhiteFiber (NASDAQ:WYFI) Shares Up 8.8% – Should You Buy?

WhiteFiber, Inc. (NASDAQ:WYFI) shares were up 8.8% during trading on Friday . The stock traded as high as $16.36 and last traded at $16.6530. Approximately 85,998 shares traded hands during trading, a decline of 90% from the average daily volume of 883,823 shares. The stock had previously closed at $15.31.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on WYFI shares. BTIG Research started coverage on WhiteFiber in a research note on Friday, April 10th. They issued a “buy” rating and a $20.00 price target on the stock. Weiss Ratings restated a “sell (d)” rating on shares of WhiteFiber in a research note on Friday, March 27th. Cantor Fitzgerald started coverage on WhiteFiber in a research note on Thursday, April 9th. They issued a “neutral” rating and a $13.00 price target on the stock. Needham & Company LLC dropped their price target on WhiteFiber from $38.00 to $36.00 and set a “buy” rating on the stock in a research note on Friday, March 27th. Finally, HC Wainwright dropped their price target on WhiteFiber from $34.00 to $20.00 and set a “buy” rating on the stock in a research note on Friday, March 27th. Ten research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $31.18.

WhiteFiber Stock Performance

The stock has a fifty day moving average of $15.17 and a 200 day moving average of $19.37. The company has a market capitalization of $636.56 million and a P/E ratio of -14.53.

WhiteFiber (NASDAQ:WYFI) last announced its earnings results on Thursday, March 26th. The company reported ($0.67) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.53). The company had revenue of $23.56 million during the quarter, compared to the consensus estimate of $23.07 million. Research analysts anticipate that WhiteFiber, Inc. will post -0.74 EPS for the current fiscal year.

Hedge Funds Weigh In On WhiteFiber

Institutional investors have recently bought and sold shares of the stock. Strs Ohio bought a new position in WhiteFiber in the 4th quarter worth $30,000. Royal Bank of Canada raised its holdings in WhiteFiber by 108.2% in the 4th 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. Police & Firemen s Retirement System of New Jersey bought a new position in WhiteFiber in the 4th quarter worth $44,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in WhiteFiber in the 4th quarter worth $55,000. Finally, MetLife Investment Management LLC bought a new position in WhiteFiber in the 4th quarter worth $106,000.

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.