WhiteFiber (NASDAQ:WYFI) Trading 10.4% Higher – Here’s Why

Shares of WhiteFiber, Inc. (NASDAQ:WYFI) were up 10.4% on Thursday . The stock traded as high as $21.59 and last traded at $21.46. Approximately 646,719 shares were traded during trading, a decline of 46% from the average daily volume of 1,187,583 shares. The stock had previously closed at $19.43.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Needham & Company LLC decreased their price objective on shares of WhiteFiber from $45.00 to $38.00 and set a “buy” rating on the stock in a report on Friday, November 14th. Wall Street Zen lowered WhiteFiber from a “hold” rating to a “sell” rating in a research note on Friday, September 5th. Craig Hallum started coverage on shares of WhiteFiber in a research note on Tuesday, September 2nd. They set a “buy” rating and a $25.00 price target on the stock. Macquarie lifted their price objective on shares of WhiteFiber from $28.00 to $32.00 and gave the company an “outperform” rating in a report on Friday, September 26th. Finally, UBS Group set a $51.00 price target on shares of WhiteFiber in a research report on Monday, October 6th. Eight analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, WhiteFiber presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.11.

WhiteFiber Stock Up 6.1%

The company has a 50-day moving average price of $27.47.

WhiteFiber (NASDAQ:WYFI) last announced its quarterly 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 business had revenue of $20.18 million for the quarter, compared to the consensus estimate of $21.18 million. The business’s revenue for the quarter was up 64.2% compared to the same quarter last year.

Institutional Investors Weigh In On WhiteFiber

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Prelude Capital Management LLC acquired a new position in shares of WhiteFiber in the 3rd quarter valued at $258,000. J.W. Cole Advisors Inc. purchased a new position in shares of WhiteFiber during the third quarter worth about $260,000. Militia Capital Partners LP acquired a new position in WhiteFiber in the 3rd quarter valued at about $326,000. Gladstone Institutional Advisory LLC purchased a new stake in WhiteFiber during the 3rd quarter valued at approximately $349,000. Finally, Pentwater Capital Management LP acquired a new stake in WhiteFiber during the 3rd quarter worth approximately $353,000.

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”).