WhiteFiber (NASDAQ:WYFI) Trading 5.9% Higher – Here’s What Happened

WhiteFiber, Inc. (NASDAQ:WYFI)’s share price rose 5.9% during mid-day trading on Tuesday . The company traded as high as $24.91 and last traded at $25.1750. Approximately 637,735 shares changed hands during mid-day trading, a decline of 43% from the average daily volume of 1,114,982 shares. The stock had previously closed at $23.77.

Analyst Upgrades and Downgrades

Several analysts have commented on WYFI shares. B. Riley Financial reiterated a “buy” rating on shares of WhiteFiber in a research report on Monday. Needham & Company LLC upped their price target on WhiteFiber from $36.00 to $38.00 and gave the company a “buy” rating in a research note on Friday, May 15th. HC Wainwright lowered their price target on WhiteFiber from $34.00 to $20.00 and set a “buy” rating for the company in a research note on Friday, March 27th. BTIG Research upped their price objective on shares of WhiteFiber from $20.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday, May 14th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of WhiteFiber in a research report on Friday, March 27th. Ten 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. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $34.00.

WhiteFiber Stock Up 22.2%

The company has a quick ratio of 2.77, a current ratio of 2.77 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $1.14 billion and a price-to-earnings ratio of -20.38. The stock’s fifty day moving average price is $17.20 and its 200-day moving average price is $18.38.

WhiteFiber (NASDAQ:WYFI) last announced its quarterly earnings data on Thursday, May 14th. The company reported ($0.31) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.07). The company had revenue of $21.92 million during the quarter. WhiteFiber had a negative net margin of 45.24% and a negative return on equity of 9.40%. WhiteFiber’s revenue was up 30.4% on a year-over-year basis. On average, sell-side analysts predict that WhiteFiber, Inc. will post -1.01 earnings per share for the current fiscal year.

Hedge Funds Weigh In On WhiteFiber

Several hedge funds have recently modified their holdings of WYFI. Situational Awareness LP bought a new position in shares of WhiteFiber in the fourth quarter valued at $27,770,000. Clearfield Capital Management LP grew its stake in shares of WhiteFiber by 426.6% in the fourth quarter. Clearfield Capital Management LP now owns 1,313,659 shares of the company’s stock valued at $20,756,000 after buying an additional 1,064,177 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of WhiteFiber by 4.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 600,315 shares of the company’s stock valued at $9,486,000 after buying an additional 24,189 shares in the last quarter. Balyasny Asset Management L.P. grew its stake in shares of WhiteFiber by 67.7% in the fourth quarter. Balyasny Asset Management L.P. now owns 457,749 shares of the company’s stock valued at $7,232,000 after buying an additional 184,829 shares in the last quarter. Finally, Monashee Investment Management LLC bought a new position in shares of WhiteFiber in the third quarter valued at $9,645,000.

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.