WhiteFiber (NASDAQ:WYFI) Trading 10.4% Higher – Time to Buy?

WhiteFiber, Inc. (NASDAQ:WYFI)’s stock price traded up 10.4% during trading on Thursday . The company traded as high as $21.59 and last traded at $21.46. 646,719 shares traded hands during mid-day trading, a decline of 46% from the average session volume of 1,187,583 shares. The stock had previously closed at $19.43.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Roth Capital dropped their target price on WhiteFiber from $42.00 to $37.00 and set a “buy” rating on the stock in a research report on Friday, November 14th. Macquarie upped their price target on shares of WhiteFiber from $28.00 to $32.00 and gave the stock an “outperform” rating in a research note on Friday, September 26th. Wall Street Zen downgraded shares of WhiteFiber from a “hold” rating to a “sell” rating in a report on Friday, September 5th. Craig Hallum initiated coverage on shares of WhiteFiber in a report on Tuesday, September 2nd. They set a “buy” rating and a $25.00 price objective on the stock. Finally, JMP Securities set a $37.00 target price on shares of WhiteFiber in a report on Wednesday, November 19th. Eight 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 stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $36.11.

WhiteFiber Trading Up 6.1%

The firm’s 50-day moving average is $27.47.

WhiteFiber (NASDAQ:WYFI) last posted 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 analysts’ expectations of $21.18 million. The business’s revenue for the quarter was up 64.2% on a year-over-year basis.

Institutional Trading of WhiteFiber

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Prelude Capital Management LLC acquired a new position in WhiteFiber in the 3rd quarter valued at about $258,000. J.W. Cole Advisors Inc. purchased a new stake in shares of WhiteFiber during the third quarter worth about $260,000. Militia Capital Partners LP acquired a new position in shares of WhiteFiber in the third quarter valued at approximately $326,000. Gladstone Institutional Advisory LLC purchased a new position in shares of WhiteFiber during the third quarter valued at approximately $349,000. Finally, Pentwater Capital Management LP acquired a new stake in WhiteFiber during the third 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”).