WhiteFiber (NASDAQ:WYFI) Trading 8.5% Higher – Time to Buy?

WhiteFiber, Inc. (NASDAQ:WYFI)’s stock price was up 8.5% during trading on Friday . The company traded as high as $20.11 and last traded at $19.74. Approximately 246,777 shares changed hands during trading, a decline of 77% from the average daily volume of 1,095,399 shares. The stock had previously closed at $18.19.

Analyst Upgrades and Downgrades

WYFI has been the subject of a number of recent analyst reports. Compass Point assumed coverage on WhiteFiber in a research report on Tuesday, December 16th. They issued a “buy” rating and a $32.00 price objective for the company. Needham & Company LLC dropped their price target on WhiteFiber from $45.00 to $38.00 and set a “buy” rating on the stock in a research note on Friday, November 14th. Citizens Jmp initiated coverage on shares of WhiteFiber in a report on Wednesday, November 19th. They set a “market outperform” rating and a $37.00 price objective on the stock. Weiss Ratings reiterated a “sell (d)” rating on shares of WhiteFiber in a research note on Monday, December 29th. Finally, JMP Securities set a $37.00 target price on shares of WhiteFiber in a research report on Wednesday, November 19th. Nine equities research 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 currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.30.

WhiteFiber Price Performance

The company has a market capitalization of $771.70 million and a P/E ratio of -42.91. The business has a 50-day moving average price of $18.18.

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

Institutional Investors Weigh In On WhiteFiber

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Gladstone Institutional Advisory LLC purchased a new stake in shares of WhiteFiber during the third quarter worth about $349,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of WhiteFiber during the third quarter valued at approximately $1,167,000. Principal Financial Group Inc. acquired a new position in shares of WhiteFiber during the third quarter valued at approximately $1,534,000. J.W. Cole Advisors Inc. purchased a new position in shares of WhiteFiber in the third quarter valued at approximately $260,000. Finally, JPMorgan Chase & Co. acquired a new stake in shares of WhiteFiber in the third quarter worth approximately $2,718,000.

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.