WhiteFiber (NASDAQ:WYFI) Shares Gap Down – Time to Sell?

WhiteFiber, Inc. (NASDAQ:WYFI)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $20.32, but opened at $19.72. WhiteFiber shares last traded at $19.45, with a volume of 692,157 shares changing hands.

Analysts Set New Price Targets

A number of equities analysts have commented on WYFI shares. B. Riley reduced their price target on shares of WhiteFiber from $44.00 to $40.00 and set a “buy” rating on the stock in a research report on Wednesday, December 24th. Citizens Jmp initiated coverage on shares of WhiteFiber in a research report on Wednesday, November 19th. They set a “market outperform” rating and a $37.00 target price on the stock. Roth Mkm dropped their price target on shares of WhiteFiber from $42.00 to $37.00 and set a “buy” rating for the company in a research note on Friday, November 14th. JMP Securities set a $37.00 target price on shares of WhiteFiber in a report on Wednesday, November 19th. Finally, Compass Point initiated coverage on WhiteFiber in a research report on Tuesday, December 16th. They issued a “buy” rating and a $32.00 price target on the stock. Nine equities 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. According to data from MarketBeat, WhiteFiber currently has a consensus rating of “Moderate Buy” and an average price target of $36.30.

WhiteFiber Trading Down 3.7%

The stock has a market capitalization of $748.75 million and a PE ratio of -41.64. The business’s 50 day moving average is $18.04.

WhiteFiber (NASDAQ:WYFI) last issued its 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 during the quarter, compared to the consensus estimate of $21.18 million. The company’s revenue was up 64.2% compared to the same quarter last year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of WYFI. Prelude Capital Management LLC bought a new position in WhiteFiber during the 3rd quarter valued at $258,000. J.W. Cole Advisors Inc. bought a new position in shares of WhiteFiber during the third quarter valued at about $260,000. Militia Capital Partners LP bought a new stake in WhiteFiber in the 3rd quarter worth about $326,000. Gladstone Institutional Advisory LLC purchased a new stake in WhiteFiber in the 3rd quarter valued at about $349,000. Finally, Pentwater Capital Management LP bought a new position in shares of WhiteFiber during the 3rd quarter worth approximately $353,000.

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.