WhiteFiber (NASDAQ:WYFI) Shares Down 5.5% – Should You Sell?

WhiteFiber, Inc. (NASDAQ:WYFI)’s share price dropped 5.5% on Friday . The company traded as low as $18.20 and last traded at $18.32. Approximately 920,886 shares changed hands during trading, a decline of 47% from the average daily volume of 1,729,162 shares. The stock had previously closed at $19.38.

Analyst Ratings Changes

A number of equities research analysts recently commented on WYFI shares. Barclays lifted their price target on shares of WhiteFiber from $29.00 to $32.00 and gave the stock an “equal weight” rating in a report on Friday, August 14th. Needham & Company LLC increased their price objective on WhiteFiber from $38.00 to $41.00 and gave the company a “buy” rating in a report on Thursday, August 13th. Weiss Ratings downgraded WhiteFiber from a “sell (d)” rating to a “sell (d-)” rating in a research report on Wednesday, August 12th. Cantor Fitzgerald upgraded WhiteFiber from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $27.00 to $36.00 in a research note on Thursday, August 13th. Finally, BTIG Research reissued a “buy” rating and issued a $50.00 price objective on shares of WhiteFiber in a report on Wednesday, August 12th. Eleven analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $36.08.

WhiteFiber Trading Down 7.4%

The firm has a 50-day simple moving average of $29.18 and a 200-day simple moving average of $23.16. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.74. The stock has a market cap of $697.36 million and a PE ratio of -9.76.

WhiteFiber (NASDAQ:WYFI) last released its quarterly earnings data on Wednesday, August 12th. The company reported ($0.39) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.01. WhiteFiber had a negative return on equity of 10.72% and a negative net margin of 46.87%.The company had revenue of $28.84 million for the quarter. Equities analysts forecast that WhiteFiber, Inc. will post -0.97 earnings per share for the current year.

Hedge Funds Weigh In On WhiteFiber

Institutional investors have recently added to or reduced their stakes in the business. Strs Ohio bought a new position in shares of WhiteFiber in the fourth quarter worth approximately $30,000. Royal Bank of Canada grew its stake in shares of WhiteFiber by 108.2% during the fourth quarter. Royal Bank of Canada now owns 2,394 shares of the company’s stock valued at $37,000 after buying an additional 1,244 shares during the last quarter. Police & Firemen s Retirement System of New Jersey purchased a new position in WhiteFiber in the 4th quarter worth approximately $44,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of WhiteFiber in the fourth quarter worth $55,000. Finally, MetLife Investment Management LLC bought a new position in shares of WhiteFiber during the fourth quarter valued at about $106,000.

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.