WhiteFiber (NASDAQ:WYFI) Trading 13.1% Higher – Should You Buy?

WhiteFiber, Inc. (NASDAQ:WYFI) shares traded up 13.1% during trading on Wednesday . The stock traded as high as $20.95 and last traded at $20.84. 1,586,776 shares changed hands during trading, an increase of 126% from the average session volume of 700,708 shares. The stock had previously closed at $18.43.

Analyst Upgrades and Downgrades

Several brokerages have commented on WYFI. Roth Capital cut their price target on shares of WhiteFiber from $42.00 to $37.00 and set a “buy” rating on the stock in a research report on Friday, November 14th. Macquarie lifted their target price on WhiteFiber from $28.00 to $32.00 and gave the company an “outperform” rating in a research report on Friday, September 26th. Weiss Ratings reiterated a “sell (d)” rating on shares of WhiteFiber in a report on Monday, December 29th. B. Riley decreased their price target on WhiteFiber from $44.00 to $40.00 and set a “buy” rating for the company in a research note on Wednesday, December 24th. Finally, Compass Point started coverage on WhiteFiber in a research note on Tuesday, December 16th. They set a “buy” rating and a $32.00 price objective on the stock. Nine research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, WhiteFiber presently has an average rating of “Moderate Buy” and an average target price of $36.30.

WhiteFiber Stock Performance

The firm’s 50-day moving average price is $18.99. The firm has a market capitalization of $798.10 million and a P/E ratio of -44.38.

WhiteFiber (NASDAQ:WYFI) last released its quarterly earnings results on Thursday, November 13th. The company reported ($0.47) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.35). The company had revenue of $20.18 million for the quarter, compared to analyst estimates of $21.18 million. The business’s revenue for the quarter was up 64.2% compared to the same quarter last year.

Institutional Investors Weigh In On WhiteFiber

Several institutional investors have recently made changes to their positions in the stock. Prelude Capital Management LLC bought a new position in WhiteFiber during the 3rd quarter worth $258,000. J.W. Cole Advisors Inc. bought a new stake in shares of WhiteFiber during the 3rd quarter valued at $260,000. Militia Capital Partners LP acquired a new stake in shares of WhiteFiber during the 3rd quarter worth $326,000. Gladstone Institutional Advisory LLC bought a new position in shares of WhiteFiber in the third quarter worth $349,000. Finally, Pentwater Capital Management LP bought a new position in shares of WhiteFiber in the third quarter worth $353,000.

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.