WhiteFiber (NASDAQ:WYFI) Sees Unusually-High Trading Volume – What’s Next?

Shares of WhiteFiber, Inc. (NASDAQ:WYFI) saw an uptick in trading volume on Tuesday . 801,284 shares were traded during mid-day trading, a decline of 17% from the previous session’s volume of 960,273 shares.The stock last traded at $24.1670 and had previously closed at $26.98.

Wall Street Analyst Weigh In

WYFI has been the topic of a number of recent research reports. Cantor Fitzgerald started coverage on shares of WhiteFiber in a research note on Thursday, April 9th. They set a “neutral” rating and a $13.00 price objective on the stock. Weiss Ratings reaffirmed a “sell (d)” rating on shares of WhiteFiber in a research report on Friday, March 27th. HC Wainwright reduced 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. Needham & Company LLC dropped their price objective on WhiteFiber from $38.00 to $36.00 and set a “buy” rating on the stock in a research report on Friday, March 27th. Finally, BTIG Research initiated coverage on WhiteFiber in a research note on Friday, April 10th. They issued a “buy” rating and a $20.00 target price on the stock. Ten investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, WhiteFiber currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.18.

WhiteFiber Trading Down 10.8%

The company has a 50-day moving average of $15.59 and a 200-day moving average of $18.74. The company has a market capitalization of $923.60 million and a price-to-earnings ratio of -21.23.

WhiteFiber (NASDAQ:WYFI) last posted its quarterly earnings data on Thursday, March 26th. The company reported ($0.67) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.53). The firm had revenue of $23.56 million for the quarter, compared to analysts’ expectations of $23.07 million. On average, research analysts expect that WhiteFiber, Inc. will post -0.93 EPS for the current year.

Institutional Investors Weigh In On WhiteFiber

A number of large investors have recently made changes to their positions in the stock. Buffalo Business & Estate Services Ltd. acquired a new position in shares of WhiteFiber in the 1st quarter valued at $602,000. Feynman Point Asset Management LLC purchased a new stake in WhiteFiber during the 4th quarter valued at about $2,511,000. Empowered Funds LLC purchased a new stake in WhiteFiber during the 4th quarter valued at about $791,000. XTX Topco Ltd acquired a new position in shares of WhiteFiber in the fourth quarter valued at about $248,000. Finally, Balyasny Asset Management L.P. raised its stake in shares of WhiteFiber by 67.7% in the fourth quarter. Balyasny Asset Management L.P. now owns 457,749 shares of the company’s stock worth $7,232,000 after purchasing an additional 184,829 shares during the last quarter.

WhiteFiber Company Profile

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.