WhiteFiber (NASDAQ:WYFI) Releases Quarterly Earnings Results, Misses Estimates By $0.35 EPS

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

WhiteFiber Trading Down 4.4%

Shares of WYFI traded down $0.87 during trading hours on Friday, hitting $19.00. The stock had a trading volume of 1,333,646 shares, compared to its average volume of 1,201,269. The stock has a fifty day simple moving average of $28.40. WhiteFiber has a 12-month low of $14.01 and a 12-month high of $40.75.

Institutional Trading of WhiteFiber

Institutional investors and hedge funds have recently modified their holdings of the business. Two Sigma Investments LP acquired a new stake in WhiteFiber in the 3rd quarter valued at approximately $396,000. Van ECK Associates Corp acquired a new position in WhiteFiber in the third quarter worth approximately $579,000. UBS Group AG acquired a new stake in shares of WhiteFiber in the third quarter worth about $763,000. Russell Investments Group Ltd. bought a new stake in WhiteFiber during the third quarter valued at about $1,278,000. Finally, Concentric Capital Strategies LP acquired a new position in shares of WhiteFiber during the third quarter worth approximately $1,842,000.

Analyst Ratings Changes

Several brokerages have commented on WYFI. Macquarie raised their price objective on shares of WhiteFiber from $28.00 to $32.00 and gave the stock an “outperform” rating in a report on Friday, September 26th. Roth Capital set a $37.00 price target on WhiteFiber in a report on Friday. B. Riley restated a “buy” rating on shares of WhiteFiber in a research report on Wednesday, October 22nd. Wall Street Zen downgraded shares of WhiteFiber from a “hold” rating to a “sell” rating in a report on Friday, September 5th. Finally, Zacks Research upgraded shares of WhiteFiber to a “hold” rating in a research report on Wednesday, September 3rd. Six analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $35.86.

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”).