WhiteFiber (NASDAQ:WYFI) Shares Gap Down – Here’s What Happened

Shares of WhiteFiber, Inc. (NASDAQ:WYFI) gapped down before the market opened on Wednesday . The stock had previously closed at $38.85, but opened at $36.34. WhiteFiber shares last traded at $35.3470, with a volume of 689,429 shares trading hands.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. BTIG Research lifted their price objective on WhiteFiber from $35.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, June 24th. Weiss Ratings restated a “sell (d)” rating on shares of WhiteFiber in a report on Wednesday, June 24th. HC Wainwright lowered their price target on WhiteFiber from $34.00 to $20.00 and set a “buy” rating for the company in a research report on Friday, March 27th. Cantor Fitzgerald upped 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. Finally, B. Riley Financial reissued a “buy” rating on shares of WhiteFiber in a research report on Monday, May 18th. Ten investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $34.67.

WhiteFiber Stock Down 8.5%

The company has a 50 day moving average price of $27.28 and a two-hundred day moving average price of $20.43. 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 has a market cap of $1.37 billion and a PE ratio of -24.53.

WhiteFiber (NASDAQ:WYFI) last released 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 for the quarter. The business’s revenue was up 30.4% compared to the same quarter last year. Analysts expect that WhiteFiber, Inc. will post -1.01 EPS for the current year.

Institutional Trading of WhiteFiber

Institutional investors have recently made changes to their positions in the stock. Royal Bank of Canada grew its stake 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 acquiring an additional 1,244 shares during the period. Strs Ohio bought a new position in WhiteFiber during the fourth quarter valued at approximately $30,000. Shikiar Asset Management Inc. lifted its position in WhiteFiber by 4.9% during the fourth quarter. Shikiar Asset Management Inc. now owns 48,790 shares of the company’s stock valued at $771,000 after purchasing an additional 2,290 shares during the period. Russell Investments Group Ltd. boosted its holdings in WhiteFiber by 5.3% in the fourth quarter. Russell Investments Group Ltd. now owns 49,513 shares of the company’s stock worth $782,000 after purchasing an additional 2,477 shares during the last quarter. Finally, Police & Firemen s Retirement System of New Jersey purchased a new stake in WhiteFiber in the fourth quarter worth approximately $44,000.

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.