WhiteFiber (NASDAQ:WYFI) Stock Price Up 5.2% – Here’s Why

WhiteFiber, Inc. (NASDAQ:WYFI) rose 5.2% during mid-day trading on Wednesday . The stock traded as high as $19.25 and last traded at $18.75. Approximately 163,753 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 1,204,312 shares. The stock had previously closed at $17.82.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on WYFI. Citigroup started coverage on WhiteFiber in a research note on Wednesday, November 19th. They issued an “outperform” rating for the company. Craig Hallum began coverage on shares of WhiteFiber in a research report on Tuesday, September 2nd. They issued a “buy” rating and a $25.00 price objective on the stock. HC Wainwright started coverage on shares of WhiteFiber in a research report on Wednesday, October 1st. They set a “buy” rating and a $34.00 target price for the company. B. Riley reissued a “buy” rating on shares of WhiteFiber in a research note on Wednesday, October 22nd. Finally, Weiss Ratings began coverage on WhiteFiber in a report on Friday, October 31st. They set a “sell (d)” rating on the stock. Eight analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, WhiteFiber presently has a consensus rating of “Moderate Buy” and an average target price of $36.11.

WhiteFiber Stock Up 6.8%

The company’s 50 day moving average is $28.15.

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

Hedge Funds Weigh In On WhiteFiber

Several institutional investors have recently modified their holdings of WYFI. Prelude Capital Management LLC acquired a new position in WhiteFiber during the 3rd quarter valued at about $258,000. J.W. Cole Advisors Inc. acquired a new stake in WhiteFiber in the third quarter worth about $260,000. Militia Capital Partners LP acquired a new position in WhiteFiber during the 3rd quarter valued at about $326,000. Gladstone Institutional Advisory LLC bought a new stake in shares of WhiteFiber during the 3rd quarter worth about $349,000. Finally, Pentwater Capital Management LP acquired a new stake in shares of WhiteFiber in the 3rd quarter worth approximately $353,000.

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”).