WhiteFiber (NASDAQ:WYFI) Sees Unusually-High Trading Volume – Still a Buy?

WhiteFiber, Inc. (NASDAQ:WYFI) saw unusually-strong trading volume on Tuesday . Approximately 930,743 shares changed hands during trading, a decline of 18% from the previous session’s volume of 1,132,845 shares.The stock last traded at $36.9860 and had previously closed at $29.98.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on WYFI shares. HC Wainwright decreased their price objective on WhiteFiber from $34.00 to $20.00 and set a “buy” rating on the stock in a report on Friday, March 27th. Cantor Fitzgerald raised their price objective on WhiteFiber from $13.00 to $27.00 and gave the company a “neutral” rating in a report on Friday, May 15th. B. Riley Financial reissued a “buy” rating on shares of WhiteFiber in a report on Monday, May 18th. Needham & Company LLC raised their price objective on WhiteFiber from $36.00 to $38.00 and gave the company a “buy” rating in a report on Friday, May 15th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of WhiteFiber in a report on Friday, March 27th. Ten investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $33.42.

WhiteFiber Stock Down 6.0%

The company has a current ratio of 2.77, a quick ratio of 2.77 and a debt-to-equity ratio of 0.63. The stock has a 50 day simple moving average of $22.86 and a 200 day simple moving average of $19.19. The firm has a market capitalization of $1.29 billion and a PE ratio of -23.12.

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

Hedge Funds Weigh In On WhiteFiber

Large investors have recently bought and sold shares of the stock. Strs Ohio purchased a new position in WhiteFiber in the 4th quarter worth approximately $30,000. Royal Bank of Canada increased its stake in WhiteFiber by 108.2% in the 4th quarter. Royal Bank of Canada now owns 2,394 shares of the company’s stock worth $37,000 after purchasing an additional 1,244 shares during the period. Police & Firemen s Retirement System of New Jersey purchased a new position in WhiteFiber in the 4th quarter worth approximately $44,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in WhiteFiber in the 4th quarter worth approximately $55,000. Finally, MetLife Investment Management LLC purchased a new position in WhiteFiber in the 4th quarter worth approximately $106,000.

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.