WhiteFiber (NASDAQ:WYFI) Trading Up 11.4% – What’s Next?

WhiteFiber, Inc. (NASDAQ:WYFI) shares were up 11.4% during trading on Monday . The stock traded as high as $27.43 and last traded at $27.51. Approximately 461,072 shares traded hands during mid-day trading, a decline of 59% from the average daily volume of 1,126,426 shares. The stock had previously closed at $24.70.

Wall Street Analyst Weigh In

Several analysts recently commented on WYFI shares. Needham & Company LLC lifted their price objective on WhiteFiber from $36.00 to $38.00 and gave the stock a “buy” rating in a report on Friday, May 15th. B. Riley Financial reiterated a “buy” rating on shares of WhiteFiber in a research report on Monday, May 18th. Barclays initiated coverage on WhiteFiber in a research report on Tuesday, June 9th. They set an “equal weight” rating and a $27.00 target price on the stock. BTIG Research lifted their target price on WhiteFiber from $20.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday, May 14th. Finally, Cantor Fitzgerald lifted their target price on WhiteFiber from $13.00 to $27.00 and gave the company a “neutral” rating in a research report on Friday, May 15th. Ten research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $33.42.

WhiteFiber Stock Up 21.4%

The company has a 50-day moving average price of $21.58 and a 200 day moving average price of $18.89. The firm has a market capitalization of $1.16 billion and a PE ratio of -20.77. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.77 and a quick ratio of 2.77.

WhiteFiber (NASDAQ:WYFI) last announced its quarterly earnings data on Thursday, May 14th. The company reported ($0.31) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.07). WhiteFiber had a negative net margin of 45.24% and a negative return on equity of 9.40%. The business had revenue of $21.92 million during the quarter. The company’s quarterly revenue was up 30.4% compared to the same quarter last year. Analysts forecast that WhiteFiber, Inc. will post -1.01 earnings per share for the current year.

Hedge Funds Weigh In On WhiteFiber

Several large investors have recently made changes to their positions in WYFI. Strs Ohio purchased a new stake in shares of WhiteFiber in the fourth quarter worth about $30,000. Royal Bank of Canada lifted its position in shares of WhiteFiber by 108.2% in the fourth quarter. Royal Bank of Canada now owns 2,394 shares of the company’s stock worth $37,000 after buying an additional 1,244 shares in the last quarter. Police & Firemen s Retirement System of New Jersey purchased a new stake in shares of WhiteFiber in the fourth quarter worth about $44,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of WhiteFiber in the fourth quarter worth about $55,000. Finally, MetLife Investment Management LLC purchased a new stake in shares of WhiteFiber in the fourth quarter worth about $106,000.

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.