WhiteFiber (NASDAQ:WYFI) Shares Gap Up – Here’s Why

Shares of WhiteFiber, Inc. (NASDAQ:WYFI) gapped up prior to trading on Monday . The stock had previously closed at $25.15, but opened at $26.30. WhiteFiber shares last traded at $27.2290, with a volume of 431,805 shares trading hands.

Analyst Upgrades and Downgrades

WYFI has been the subject of several recent research reports. BTIG Research upped their price target on shares of WhiteFiber from $35.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, June 24th. Needham & Company LLC lifted their price objective on shares of WhiteFiber from $36.00 to $38.00 and gave the company a “buy” rating in a research report on Friday, May 15th. Weiss Ratings reiterated a “sell (d)” rating on shares of WhiteFiber in a research report on Wednesday, June 24th. HC Wainwright reduced their target price on shares of WhiteFiber from $34.00 to $20.00 and set a “buy” rating for the company in a research note on Friday, March 27th. Finally, B. Riley Financial restated a “buy” rating on shares of WhiteFiber in a research report on Monday, May 18th. Ten analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, WhiteFiber has a consensus rating of “Moderate Buy” and an average price target of $34.67.

WhiteFiber Stock Up 6.2%

The stock’s 50-day moving average is $31.29 and its 200-day moving average is $21.92. The stock has a market cap of $1.03 billion and a P/E ratio of -18.44. The company has a current ratio of 2.77, a quick ratio of 2.77 and a debt-to-equity ratio of 0.63.

WhiteFiber (NASDAQ:WYFI) last released its earnings results on Thursday, May 14th. The company reported ($0.31) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.07). The company had revenue of $21.92 million for the quarter. WhiteFiber had a negative net margin of 45.24% and a negative return on equity of 9.40%. The business’s revenue was up 30.4% on a year-over-year basis. As a group, research analysts anticipate that WhiteFiber, Inc. will post -1.26 earnings per share for the current fiscal year.

Institutional Investors Weigh In On WhiteFiber

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WYFI. Strs Ohio acquired a new stake in WhiteFiber in the fourth quarter worth approximately $30,000. Royal Bank of Canada boosted its stake in WhiteFiber by 108.2% during the 4th quarter. Royal Bank of Canada now owns 2,394 shares of the company’s stock valued at $37,000 after purchasing an additional 1,244 shares in the last quarter. Police & Firemen s Retirement System of New Jersey acquired a new position in shares of WhiteFiber during the 4th quarter valued at $44,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of WhiteFiber during the 4th quarter valued at $55,000. Finally, MetLife Investment Management LLC bought a new stake in shares of WhiteFiber in the 4th quarter worth $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.