WhiteFiber (NASDAQ:WYFI) Shares Gap Up – Still a Buy?

WhiteFiber, Inc. (NASDAQ:WYFI)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $21.25, but opened at $23.49. WhiteFiber shares last traded at $27.0660, with a volume of 1,042,424 shares changing hands.

Analyst Ratings Changes

WYFI has been the topic of a number of research analyst reports. Needham & Company LLC dropped their target price on shares of WhiteFiber from $38.00 to $36.00 and set a “buy” rating on the stock in a research note on Friday, March 27th. HC Wainwright dropped their target price on shares of WhiteFiber from $34.00 to $20.00 and set a “buy” rating on the stock in a research note on Friday, March 27th. Weiss Ratings reissued a “sell (d)” rating on shares of WhiteFiber in a research note on Friday, March 27th. Cantor Fitzgerald assumed coverage on WhiteFiber in a research note on Thursday, April 9th. They issued a “neutral” rating and a $13.00 price objective on the stock. Finally, BTIG Research assumed coverage on WhiteFiber in a research report on Friday, April 10th. They set a “buy” rating and a $20.00 target price for the company. Ten research analysts have rated the stock with a Buy rating, two have given 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 an average price target of $31.18.

WhiteFiber Price Performance

The business has a fifty day simple moving average of $15.77 and a two-hundred day simple moving average of $18.73. The company has a market cap of $1.00 billion and a PE ratio of -22.89.

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

Institutional Trading of WhiteFiber

Hedge funds have recently bought and sold shares of the stock. Strs Ohio purchased a new stake in WhiteFiber during the fourth quarter worth $30,000. Royal Bank of Canada lifted its holdings in WhiteFiber by 108.2% during the fourth quarter. Royal Bank of Canada now owns 2,394 shares of the company’s stock worth $37,000 after buying an additional 1,244 shares during the period. Police & Firemen s Retirement System of New Jersey acquired a new stake in WhiteFiber in the fourth quarter valued at approximately $44,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in WhiteFiber in the fourth quarter valued at approximately $55,000. Finally, MetLife Investment Management LLC acquired a new stake in WhiteFiber in the fourth quarter valued at approximately $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.