WhiteFiber (NASDAQ:WYFI) Trading Up 3.4% – Here’s Why

WhiteFiber, Inc. (NASDAQ:WYFI)’s share price rose 3.4% on Monday . The stock traded as high as $17.30 and last traded at $17.14. Approximately 76,662 shares traded hands during trading, a decline of 94% from the average daily volume of 1,205,412 shares. The stock had previously closed at $16.57.

Analyst Ratings Changes

Several research firms have issued reports on WYFI. UBS Group set a $51.00 price objective on WhiteFiber in a research note on Monday, October 6th. Needham & Company LLC lowered their target price 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. B. Riley cut their price target on shares of WhiteFiber from $44.00 to $40.00 and set a “buy” rating for the company in a report on Wednesday, December 24th. Wall Street Zen lowered shares of WhiteFiber from a “hold” rating to a “sell” rating in a research report on Friday, September 5th. Finally, Craig Hallum assumed coverage on shares of WhiteFiber in a report on Tuesday, September 2nd. They set a “buy” rating and a $25.00 price objective for the company. Nine research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, WhiteFiber presently has an average rating of “Moderate Buy” and a consensus target price of $36.30.

WhiteFiber Stock Performance

The company’s 50-day simple moving average is $22.62.

WhiteFiber (NASDAQ:WYFI) last issued its quarterly earnings data 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 firm’s revenue was up 64.2% on a year-over-year basis.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Penn Capital Management Company LLC bought a new position in shares of WhiteFiber in the third quarter valued at $546,000. Advisory Services Network LLC bought a new stake in shares of WhiteFiber in the 3rd quarter valued at about $759,000. Woodline Partners LP acquired a new stake in WhiteFiber in the 3rd quarter valued at about $2,717,000. Wasatch Advisors LP bought a new position in WhiteFiber during the third quarter worth about $8,382,000. Finally, Wexford Capital LP acquired a new position in WhiteFiber during the third quarter worth approximately $1,335,000.

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.