WhiteFiber (NASDAQ:WYFI) Trading 11.8% Higher – Still a Buy?

WhiteFiber, Inc. (NASDAQ:WYFI) rose 11.8% during trading on Wednesday . The stock traded as high as $17.37 and last traded at $17.7390. Approximately 155,785 shares were traded during trading, a decline of 83% from the average daily volume of 905,545 shares. The stock had previously closed at $15.87.

Analysts Set New Price Targets

WYFI has been the subject of several recent research reports. Weiss Ratings restated a “sell (d)” rating on shares of WhiteFiber in a research report on Monday, December 29th. Needham & Company LLC cut their price objective on shares of WhiteFiber from $45.00 to $38.00 and set a “buy” rating for the company in a research report on Friday, November 14th. Compass Point assumed coverage on WhiteFiber in a report on Tuesday, December 16th. They issued a “buy” rating and a $32.00 target price on the stock. B. Riley Financial lowered their target price on WhiteFiber from $44.00 to $40.00 and set a “buy” rating on the stock in a research report on Wednesday, December 24th. Finally, Citizens Jmp set a $37.00 price target on WhiteFiber in a report on Wednesday, November 19th. Nine research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $36.22.

WhiteFiber Stock Up 7.1%

The firm has a market cap of $650.04 million and a PE ratio of -36.13. The firm’s fifty day simple moving average is $18.21 and its two-hundred day simple moving average is $21.65.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Feynman Point Asset Management LLC bought a new stake in WhiteFiber during the fourth quarter valued at about $2,511,000. Empowered Funds LLC purchased a new stake in shares of WhiteFiber during the fourth quarter worth about $791,000. XTX Topco Ltd purchased a new stake in shares of WhiteFiber during the fourth quarter worth about $248,000. Balyasny Asset Management L.P. raised its stake in WhiteFiber by 67.7% during the 4th quarter. Balyasny Asset Management L.P. now owns 457,749 shares of the company’s stock valued at $7,232,000 after purchasing an additional 184,829 shares during the period. Finally, Lazard Asset Management LLC purchased a new position in WhiteFiber in the 4th quarter worth approximately $1,797,000.

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”). Our Tier-3 data centers provide hosting and colocation services. Our cloud services support generative AI workstreams, especially training and inference.