WhiteFiber (NASDAQ:WYFI) Price Target Lowered to $38.00 at Needham & Company LLC

WhiteFiber (NASDAQ:WYFI) had its price objective reduced by Needham & Company LLC from $45.00 to $38.00 in a research report report published on Friday,Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

WYFI has been the subject of a number of other reports. Weiss Ratings assumed coverage on shares of WhiteFiber in a report on Friday, October 31st. They set a “sell (d)” rating for the company. Wall Street Zen cut shares of WhiteFiber from a “hold” rating to a “sell” rating in a research note on Friday, September 5th. HC Wainwright began coverage on WhiteFiber in a research note on Wednesday, October 1st. They issued a “buy” rating and a $34.00 price objective on the stock. B. Riley restated a “buy” rating on shares of WhiteFiber in a research report on Wednesday, October 22nd. Finally, Craig Hallum assumed coverage on WhiteFiber in a report on Tuesday, September 2nd. They set a “buy” rating and a $25.00 price objective for the company. Six investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $35.86.

WhiteFiber Trading Down 9.4%

Shares of WYFI stock traded down $1.87 during mid-day trading on Friday, reaching $18.00. The stock had a trading volume of 2,439,595 shares, compared to its average volume of 1,056,536. The company has a 50 day moving average of $28.43. WhiteFiber has a one year low of $14.01 and a one year high of $40.75.

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

Institutional Trading of WhiteFiber

Several institutional investors and hedge funds have recently added to or reduced their stakes in WYFI. Metavasi Capital LP bought a new position in shares of WhiteFiber in the 3rd quarter valued at about $5,193,000. Davidson Kempner Capital Management LP bought a new stake in shares of WhiteFiber during the third quarter worth approximately $3,396,000. Two Sigma Investments LP acquired a new position in WhiteFiber in the third quarter valued at approximately $396,000. Concentric Capital Strategies LP acquired a new stake in WhiteFiber during the 3rd quarter worth $1,842,000. Finally, Ghisallo Capital Management LLC bought a new stake in shares of WhiteFiber during the 3rd quarter valued at $679,000.

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”).