WhiteFiber (NASDAQ:WYFI) Sees Unusually-High Trading Volume – Here’s Why

WhiteFiber, Inc. (NASDAQ:WYFI) saw unusually-high trading volume on Tuesday . Approximately 801,284 shares traded hands during trading, a decline of 17% from the previous session’s volume of 960,273 shares.The stock last traded at $24.1670 and had previously closed at $26.98.

Wall Street Analysts Forecast Growth

Several brokerages have commented on WYFI. Cantor Fitzgerald began coverage on shares of 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 cut their price target on WhiteFiber from $38.00 to $36.00 and set a “buy” rating for the company in a report on Friday, March 27th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of WhiteFiber in a report on Friday, March 27th. BTIG Research started coverage on shares of WhiteFiber in a report on Friday, April 10th. They issued a “buy” rating and a $20.00 target price for the company. Finally, HC Wainwright reduced their target price on shares of WhiteFiber from $34.00 to $20.00 and set a “buy” rating on the stock in a report on Friday, March 27th. Ten equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $31.18.

WhiteFiber Trading Down 10.8%

The stock has a market capitalization of $923.60 million and a PE ratio of -21.23. The business’s 50 day moving average is $15.59 and its 200 day moving average is $18.74.

WhiteFiber (NASDAQ:WYFI) last announced its earnings results on Thursday, March 26th. The company reported ($0.67) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.53). The business had revenue of $23.56 million during the quarter, compared to analyst estimates of $23.07 million. As a group, analysts anticipate that WhiteFiber, Inc. will post -0.93 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of WYFI. Royal Bank of Canada raised its position in WhiteFiber by 108.2% during the 4th quarter. Royal Bank of Canada now owns 2,394 shares of the company’s stock valued at $37,000 after purchasing an additional 1,244 shares in the last quarter. Strs Ohio bought a new position in shares of WhiteFiber during the 4th quarter worth $30,000. Shikiar Asset Management Inc. increased its stake in shares of WhiteFiber by 4.9% during the fourth quarter. Shikiar Asset Management Inc. now owns 48,790 shares of the company’s stock valued at $771,000 after buying an additional 2,290 shares during the period. Russell Investments Group Ltd. raised its holdings in shares of WhiteFiber by 5.3% in the fourth quarter. Russell Investments Group Ltd. now owns 49,513 shares of the company’s stock valued at $782,000 after acquiring an additional 2,477 shares in the last quarter. Finally, Police & Firemen s Retirement System of New Jersey bought a new stake in shares of WhiteFiber in the fourth quarter valued at about $44,000.

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.