WhiteFiber (NASDAQ:WYFI) Shares Gap Up – Should You Buy?

WhiteFiber, Inc. (NASDAQ:WYFI)’s share price gapped up prior to trading on Monday . The stock had previously closed at $21.25, but opened at $23.49. WhiteFiber shares last traded at $27.0660, with a volume of 1,042,424 shares.

Analysts Set New Price Targets

A number of equities analysts recently commented on WYFI shares. Weiss Ratings reaffirmed a “sell (d)” rating on shares of WhiteFiber in a research note on Friday, March 27th. Cantor Fitzgerald started coverage on shares of WhiteFiber in a research note on Thursday, April 9th. They issued a “neutral” rating and a $13.00 price objective for the company. BTIG Research started coverage on shares of WhiteFiber in a research note on Friday, April 10th. They issued a “buy” rating and a $20.00 price objective for the company. HC Wainwright decreased their price objective on shares of WhiteFiber from $34.00 to $20.00 and set a “buy” rating for the company in a research note on Friday, March 27th. Finally, Needham & Company LLC decreased their price objective on shares of WhiteFiber from $38.00 to $36.00 and set a “buy” rating for the company in a research note on Friday, March 27th. Ten investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $31.18.

WhiteFiber Trading Up 29.0%

The company has a market cap of $1.05 billion and a PE ratio of -23.98. The business’s 50-day simple moving average is $15.37 and its 200-day simple moving average is $18.84.

WhiteFiber (NASDAQ:WYFI) last released its earnings results on Thursday, March 26th. The company reported ($0.67) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.53). The business had revenue of $23.56 million for the quarter, compared to the consensus estimate of $23.07 million. On average, research analysts predict that WhiteFiber, Inc. will post -0.93 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Fortress Investment Group LLC bought a new position in shares of WhiteFiber during the 3rd quarter valued at $4,301,000. JPMorgan Chase & Co. bought a new position in shares of WhiteFiber during the 3rd quarter valued at $2,718,000. Monashee Investment Management LLC bought a new position in shares of WhiteFiber during the 3rd quarter valued at $9,645,000. Principal Financial Group Inc. bought a new position in shares of WhiteFiber during the 3rd quarter valued at $1,534,000. Finally, Clearfield Capital Management LP bought a new position in shares of WhiteFiber during the 3rd quarter valued at $6,778,000.

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.