WhiteFiber (NASDAQ:WYFI) Trading Up 8.5% – Here’s Why

WhiteFiber, Inc. (NASDAQ:WYFI)’s share price rose 8.5% during mid-day trading on Friday . The company traded as high as $20.11 and last traded at $19.74. Approximately 246,777 shares traded hands during trading, a decline of 77% from the average daily volume of 1,095,399 shares. The stock had previously closed at $18.19.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on WYFI. Needham & Company LLC dropped their price objective 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. Citigroup assumed coverage on WhiteFiber in a report on Wednesday, November 19th. They issued an “outperform” rating for the company. B. Riley Financial reduced their price objective on WhiteFiber from $44.00 to $40.00 and set a “buy” rating on the stock in a research report on Wednesday, December 24th. Weiss Ratings restated a “sell (d)” rating on shares of WhiteFiber in a report on Monday, December 29th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $34.00 target price on shares of WhiteFiber in a research note on Monday, January 26th. Nine investment 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 MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $36.30.

WhiteFiber Price Performance

The company’s 50 day moving average is $18.18. The company has a market capitalization of $771.70 million and a price-to-earnings ratio of -42.91.

WhiteFiber (NASDAQ:WYFI) last posted 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 firm had revenue of $20.18 million for the quarter, compared to analyst estimates of $21.18 million. The firm’s revenue for the quarter was up 64.2% on a year-over-year basis.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of WhiteFiber in the 3rd quarter valued at approximately $1,167,000. Gladstone Institutional Advisory LLC acquired a new position in shares of WhiteFiber during the third quarter worth $349,000. JPMorgan Chase & Co. purchased a new position in WhiteFiber in the third quarter valued at $2,718,000. Penn Capital Management Company LLC acquired a new stake in WhiteFiber in the third quarter valued at $546,000. Finally, Militia Capital Partners LP purchased a new stake in WhiteFiber during the 3rd quarter worth about $326,000.

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.