WhiteFiber (NASDAQ:WYFI) Stock Price Up 11.4% – What’s Next?

WhiteFiber, Inc. (NASDAQ:WYFI) traded up 11.4% on Monday . The stock traded as high as $27.43 and last traded at $27.51. 461,072 shares changed hands during mid-day trading, a decline of 59% from the average session volume of 1,126,426 shares. The stock had previously closed at $24.70.

Wall Street Analysts Forecast Growth

WYFI has been the topic of a number of recent research reports. BTIG Research increased their price objective on WhiteFiber from $20.00 to $35.00 and gave the stock a “buy” rating in a report on Thursday, May 14th. Needham & Company LLC increased their price objective on WhiteFiber from $36.00 to $38.00 and gave the stock a “buy” rating in a report on Friday, May 15th. B. Riley Financial reissued a “buy” rating on shares of WhiteFiber in a report on Monday, May 18th. Barclays initiated coverage on WhiteFiber in a report on Tuesday, June 9th. They set an “equal weight” rating and a $27.00 price objective on the stock. Finally, HC Wainwright dropped their price objective on WhiteFiber from $34.00 to $20.00 and set a “buy” rating on the stock in a report on Friday, March 27th. Ten equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $33.42.

WhiteFiber Price Performance

The business’s 50-day moving average price is $22.86 and its 200 day moving average price is $19.19. The stock has a market capitalization of $1.29 billion and a PE ratio of -23.12. The company has a debt-to-equity ratio of 0.63, a quick ratio of 2.77 and a current ratio of 2.77.

WhiteFiber (NASDAQ:WYFI) last released its quarterly earnings results on Thursday, May 14th. The company reported ($0.31) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.07). WhiteFiber had a negative net margin of 45.24% and a negative return on equity of 9.40%. The firm had revenue of $21.92 million for the quarter. The firm’s revenue for the quarter was up 30.4% compared to the same quarter last year. Research analysts forecast that WhiteFiber, Inc. will post -1.01 earnings per share for the current year.

Hedge Funds Weigh In On WhiteFiber

A number of large investors have recently added to or reduced their stakes in the business. Strs Ohio purchased a new stake in WhiteFiber during the fourth quarter valued at about $30,000. Royal Bank of Canada lifted its stake in shares of WhiteFiber by 108.2% in the 4th quarter. Royal Bank of Canada now owns 2,394 shares of the company’s stock valued at $37,000 after acquiring an additional 1,244 shares during the last quarter. Police & Firemen s Retirement System of New Jersey bought a new stake in shares of WhiteFiber in the 4th quarter valued at about $44,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in WhiteFiber during the 4th quarter valued at about $55,000. Finally, MetLife Investment Management LLC bought a new position in WhiteFiber during the 4th quarter worth 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.