WhiteFiber (NASDAQ:WYFI) Stock Price Down 8.7% – Time to Sell?

WhiteFiber, Inc. (NASDAQ:WYFI) shares traded down 8.7% on Friday . The company traded as low as $24.53 and last traded at $23.9610. 654,982 shares were traded during trading, a decline of 58% from the average session volume of 1,574,082 shares. The stock had previously closed at $26.25.

Wall Street Analysts Forecast Growth

WYFI has been the subject of a number of recent research reports. B. Riley Financial reiterated a “buy” rating on shares of WhiteFiber in a report on Monday, May 18th. BTIG Research boosted their target price on WhiteFiber from $35.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, June 24th. Needham & Company LLC upped their price target on WhiteFiber from $36.00 to $38.00 and gave the company a “buy” rating in a research report on Friday, May 15th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of WhiteFiber in a report on Wednesday, June 24th. Finally, Cantor Fitzgerald lifted their price objective on WhiteFiber from $13.00 to $27.00 and gave the stock a “neutral” rating in a research report on Friday, May 15th. Ten analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, WhiteFiber currently has an average rating of “Moderate Buy” and a consensus price target of $34.83.

WhiteFiber Stock Down 7.3%

The company has a debt-to-equity ratio of 0.63, a current ratio of 2.77 and a quick ratio of 2.77. The business’s 50 day simple moving average is $31.08 and its 200 day simple moving average is $22.45. The company has a market capitalization of $939.83 million and a PE ratio of -16.77.

WhiteFiber (NASDAQ:WYFI) last posted its quarterly earnings results on Thursday, May 14th. The company reported ($0.31) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.07). The firm had revenue of $21.92 million during the quarter. WhiteFiber had a negative net margin of 45.24% and a negative return on equity of 9.40%. WhiteFiber’s revenue was up 30.4% on a year-over-year basis. As a group, analysts anticipate that WhiteFiber, Inc. will post -1.26 earnings per share for the current fiscal year.

Institutional Investors Weigh In On WhiteFiber

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Royal Bank of Canada increased its position in shares of WhiteFiber by 108.2% during the 4th quarter. Royal Bank of Canada now owns 2,394 shares of the company’s stock worth $37,000 after purchasing an additional 1,244 shares during the last quarter. Strs Ohio acquired a new position in WhiteFiber in the fourth quarter valued at about $30,000. Shikiar Asset Management Inc. lifted its position in WhiteFiber by 4.9% in the fourth quarter. Shikiar Asset Management Inc. now owns 48,790 shares of the company’s stock valued at $771,000 after buying an additional 2,290 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in WhiteFiber by 5.3% during the fourth quarter. Russell Investments Group Ltd. now owns 49,513 shares of the company’s stock worth $782,000 after buying an additional 2,477 shares during the period. Finally, Police & Firemen s Retirement System of New Jersey purchased a new position in WhiteFiber during the fourth quarter worth about $44,000.

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.