WhiteFiber (NASDAQ:WYFI) Stock Price Up 21.7% – Time to Buy?

WhiteFiber, Inc. (NASDAQ:WYFI)’s stock price was up 21.7% during trading on Friday . The stock traded as high as $17.55 and last traded at $17.52. Approximately 719,649 shares were traded during trading, a decline of 37% from the average daily volume of 1,148,970 shares. The stock had previously closed at $14.40.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. JMP Securities set a $37.00 price target on WhiteFiber in a research note on Wednesday, November 19th. Compass Point assumed coverage on WhiteFiber in a research report on Tuesday, December 16th. They set a “buy” rating and a $32.00 target price on the stock. B. Riley Financial decreased their price target on WhiteFiber from $44.00 to $40.00 and set a “buy” rating for the company in a report on Wednesday, December 24th. Citizens Jmp started coverage on WhiteFiber in a research note on Wednesday, November 19th. They set a “market outperform” rating and a $37.00 price objective on the stock. Finally, Needham & Company LLC reduced their target price on shares of WhiteFiber from $45.00 to $38.00 and set a “buy” rating for the company in a research note on Friday, November 14th. Nine analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, WhiteFiber currently has an average rating of “Moderate Buy” and a consensus price target of $36.30.

WhiteFiber Stock Up 30.3%

The company has a market capitalization of $718.14 million and a P/E ratio of -39.94. The company has a fifty day moving average price of $18.30.

WhiteFiber (NASDAQ:WYFI) last announced its quarterly earnings data on Thursday, November 13th. The company reported ($0.47) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.35). The business had revenue of $20.18 million for the quarter, compared to analyst estimates 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 have recently made changes to their positions in the company. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in WhiteFiber in the 3rd quarter valued at about $1,167,000. JPMorgan Chase & Co. purchased a new position in shares of WhiteFiber in the third quarter worth about $2,718,000. CCG Wealth Management LLC purchased a new position in shares of WhiteFiber in the fourth quarter worth about $263,000. Metavasi Capital LP purchased a new stake in shares of WhiteFiber during the 3rd quarter valued at approximately $5,193,000. Finally, Davidson Kempner Capital Management LP bought a new stake in WhiteFiber during the 3rd quarter valued at $3,396,000.

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.