WhiteFiber (NASDAQ:WYFI) Stock Price Up 4.7% – What’s Next?

Shares of WhiteFiber, Inc. (NASDAQ:WYFI) rose 4.7% during trading on Monday . The stock traded as high as $18.59 and last traded at $18.58. Approximately 1,688,520 shares changed hands during mid-day trading, a decline of 3% from the average session volume of 1,740,360 shares. The stock had previously closed at $17.75.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. BTIG Research reiterated a “buy” rating and set a $50.00 price target on shares of WhiteFiber in a research note on Wednesday, August 12th. Needham & Company LLC raised their price objective on shares of WhiteFiber from $38.00 to $41.00 and gave the company a “buy” rating in a research report on Thursday, August 13th. B. Riley Financial reaffirmed a “buy” rating on shares of WhiteFiber in a report on Monday, May 18th. Cantor Fitzgerald raised WhiteFiber from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $27.00 to $36.00 in a research note on Thursday, August 13th. Finally, Barclays raised their price target on WhiteFiber from $29.00 to $32.00 and gave the company an “equal weight” rating in a report on Friday, August 14th. Ten analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $37.09.

WhiteFiber Stock Performance

The stock’s 50 day moving average price is $27.70 and its two-hundred day moving average price is $23.13. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $679.84 million and a price-to-earnings ratio of -9.51.

WhiteFiber (NASDAQ:WYFI) last announced its quarterly earnings data on Wednesday, August 12th. The company reported ($0.39) EPS for the quarter, beating the consensus estimate of ($0.40) by $0.01. WhiteFiber had a negative net margin of 46.87% and a negative return on equity of 10.72%. The firm had revenue of $28.84 million during the quarter. On average, analysts forecast that WhiteFiber, Inc. will post -0.97 EPS for the current year.

Institutional Investors Weigh In On WhiteFiber

Several institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. acquired a new stake in shares of WhiteFiber in the 3rd quarter worth approximately $2,718,000. Vanguard Group Inc. acquired a new stake in WhiteFiber in the third quarter valued at $6,563,000. Russell Investments Group Ltd. purchased a new position in shares of WhiteFiber in the third quarter valued at $1,278,000. Van ECK Associates Corp purchased a new position in shares of WhiteFiber in the third quarter valued at $579,000. Finally, UBS Group AG acquired a new position in shares of WhiteFiber during the 3rd quarter worth $763,000.

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.