WhiteFiber (NASDAQ:WYFI) Stock Price Down 5.6% – Here’s What Happened

WhiteFiber, Inc. (NASDAQ:WYFI)’s share price dropped 5.6% during mid-day trading on Thursday . The stock traded as low as $26.14 and last traded at $26.4640. Approximately 378,192 shares changed hands during mid-day trading, a decline of 67% from the average daily volume of 1,139,045 shares. The stock had previously closed at $28.03.

Analysts Set New Price Targets

WYFI has been the topic of several research analyst reports. B. Riley Financial restated a “buy” rating on shares of WhiteFiber in a research note on Monday, May 18th. Cantor Fitzgerald lifted their price target on shares of WhiteFiber from $13.00 to $27.00 and gave the stock a “neutral” rating in a research note on Friday, May 15th. Needham & Company LLC lifted their price target on shares of WhiteFiber from $36.00 to $38.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. HC Wainwright decreased their price target on shares of WhiteFiber from $34.00 to $20.00 and set a “buy” rating on the stock in a research note on Friday, March 27th. Finally, BTIG Research lifted their price target on shares of WhiteFiber from $20.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday, May 14th. Ten equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $34.00.

WhiteFiber Price Performance

The company has a debt-to-equity ratio of 0.63, a current ratio of 2.77 and a quick ratio of 2.77. The stock’s 50 day simple moving average is $20.36 and its two-hundred day simple moving average is $18.67. The stock has a market cap of $898.45 million and a price-to-earnings ratio of -16.05.

WhiteFiber (NASDAQ:WYFI) last posted its quarterly earnings results on Thursday, May 14th. The company reported ($0.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.07). The business had revenue of $21.92 million for the quarter. WhiteFiber had a negative return on equity of 9.40% and a negative net margin of 45.24%.The business’s quarterly revenue was up 30.4% on a year-over-year basis. On average, analysts forecast that WhiteFiber, Inc. will post -1.01 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Fortress Investment Group LLC bought a new position in shares of WhiteFiber during the third quarter valued at $4,301,000. JPMorgan Chase & Co. bought a new position in shares of WhiteFiber during the third quarter valued at $2,718,000. Monashee Investment Management LLC bought a new position in shares of WhiteFiber during the third quarter valued at $9,645,000. Principal Financial Group Inc. bought a new position in shares of WhiteFiber during the third quarter valued at $1,534,000. Finally, Clearfield Capital Management LP bought a new position in shares of WhiteFiber during the third quarter valued at $6,778,000.

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.