WhiteFiber (NASDAQ:WYFI) Trading Down 6.7% – Time to Sell?

WhiteFiber, Inc. (NASDAQ:WYFI)’s stock price fell 6.7% during mid-day trading on Wednesday . The stock traded as low as $39.64 and last traded at $41.7660. Approximately 902,980 shares changed hands during trading, a decline of 29% from the average daily volume of 1,276,043 shares. The stock had previously closed at $44.76.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. HC Wainwright decreased their target price on WhiteFiber from $34.00 to $20.00 and set a “buy” rating on the stock in a research note on Friday, March 27th. B. Riley Financial reiterated a “buy” rating on shares of WhiteFiber in a research report on Monday, May 18th. Weiss Ratings reissued a “sell (d)” rating on shares of WhiteFiber in a report on Friday, March 27th. Cantor Fitzgerald increased their price target on shares of WhiteFiber from $13.00 to $27.00 and gave the stock a “neutral” rating in a report on Friday, May 15th. Finally, BTIG Research raised their price objective on WhiteFiber from $20.00 to $35.00 and gave the company a “buy” rating in a report on Thursday, May 14th. Ten research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $33.42.

WhiteFiber Stock Performance

The business has a fifty day moving average of $25.10 and a 200 day moving average of $19.80. 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 cap of $1.64 billion and a P/E ratio of -29.33.

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

Institutional Investors Weigh In On WhiteFiber

Hedge funds have recently bought and sold shares of the business. Fortress Investment Group LLC bought a new stake in shares of WhiteFiber in the 3rd quarter worth approximately $4,301,000. JPMorgan Chase & Co. bought a new stake in WhiteFiber in the 3rd quarter worth about $2,718,000. Monashee Investment Management LLC bought a new stake in shares of WhiteFiber in the third quarter worth approximately $9,645,000. Clearfield Capital Management LP purchased a new stake in WhiteFiber during the 3rd quarter valued at $6,778,000. Finally, Portolan Capital Management LLC purchased a new stake in WhiteFiber during the third quarter valued at $4,365,000.

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.