WhiteFiber (NASDAQ:WYFI) Stock Price Down 6.5% – Time to Sell?

WhiteFiber, Inc. (NASDAQ:WYFI) fell 6.5% during trading on Friday . The company traded as low as $36.16 and last traded at $36.3310. Approximately 707,745 shares changed hands during mid-day trading, a decline of 51% from the average daily volume of 1,432,276 shares. The stock had previously closed at $38.84.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on WYFI shares. Barclays began coverage on WhiteFiber in a research report on Tuesday, June 9th. They set an “equal weight” rating and a $27.00 target price on the stock. HC Wainwright dropped their price target on WhiteFiber from $34.00 to $20.00 and set a “buy” rating on the stock in a research note on Friday, March 27th. B. Riley Financial reaffirmed a “buy” rating on shares of WhiteFiber in a research report on Monday, May 18th. BTIG Research increased their price target on shares of WhiteFiber from $35.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, June 24th. Finally, Needham & Company LLC raised their price objective on shares of WhiteFiber from $36.00 to $38.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. Ten investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, WhiteFiber presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.67.

WhiteFiber Stock Down 1.6%

The company has a quick ratio of 2.77, a current ratio of 2.77 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $1.48 billion and a PE ratio of -26.56. The firm’s fifty day moving average is $29.83 and its 200-day moving average is $21.34.

WhiteFiber (NASDAQ:WYFI) last announced its quarterly earnings data on Thursday, May 14th. The company reported ($0.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.07). The business had revenue of $21.92 million for the quarter. WhiteFiber had a negative return on equity of 9.40% and a negative net margin of 45.24%.The company’s revenue for the quarter was up 30.4% on a year-over-year basis. On average, equities research analysts predict that WhiteFiber, Inc. will post -1.26 earnings per share for the current year.

Institutional Trading of WhiteFiber

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Fortress Investment Group LLC purchased a new stake in shares of WhiteFiber during the third quarter worth about $4,301,000. JPMorgan Chase & Co. purchased a new position in shares of WhiteFiber during the third quarter valued at approximately $2,718,000. Clearfield Capital Management LP acquired a new stake in WhiteFiber during the third quarter worth approximately $6,778,000. Portolan Capital Management LLC acquired a new stake in WhiteFiber during the third quarter worth approximately $4,365,000. Finally, Situational Awareness LP purchased a new stake in WhiteFiber in the 4th quarter worth approximately $27,770,000.

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.