Ichi Shih Sells 7,059 Shares of WhiteFiber (NASDAQ:WYFI) Stock

WhiteFiber, Inc. (NASDAQ:WYFI) Director Ichi Shih sold 7,059 shares of WhiteFiber stock in a transaction on Friday, May 29th. The stock was sold at an average price of $30.12, for a total transaction of $212,617.08. Following the sale, the director directly owned 4,657 shares of the company’s stock, valued at approximately $140,268.84. This trade represents a 60.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

WhiteFiber Stock Performance

NASDAQ:WYFI opened at $17.31 on Thursday. The firm has a market capitalization of $672.49 million and a PE ratio of -9.41. The business’s fifty day moving average price is $27.27 and its 200 day moving average price is $23.12. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.79 and a quick ratio of 0.79. WhiteFiber, Inc. has a 12 month low of $10.51 and a 12 month high of $46.87.

WhiteFiber (NASDAQ:WYFI) last announced its quarterly earnings results on Wednesday, August 12th. The company reported ($0.39) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.01. The company had revenue of $28.84 million during the quarter. WhiteFiber had a negative return on equity of 10.72% and a negative net margin of 46.87%. On average, sell-side analysts anticipate that WhiteFiber, Inc. will post -0.97 earnings per share for the current fiscal year.

Hedge Funds Weigh In On WhiteFiber

A number of hedge funds have recently modified their holdings of WYFI. Strs Ohio acquired a new position in shares of WhiteFiber in the 4th quarter valued at $30,000. Royal Bank of Canada grew its position in 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. Police & Firemen s Retirement System of New Jersey purchased a new position in WhiteFiber during the 4th quarter worth $44,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in WhiteFiber in the fourth quarter valued at $55,000. Finally, MetLife Investment Management LLC purchased a new stake in shares of WhiteFiber in the fourth quarter valued at about $106,000.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. B. Riley Financial reaffirmed a “buy” rating on shares of WhiteFiber in a report on Monday, May 18th. Needham & Company LLC raised their price objective on shares of WhiteFiber from $38.00 to $41.00 and gave the stock a “buy” rating in a report on Thursday, August 13th. Cantor Fitzgerald upgraded shares of WhiteFiber from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $27.00 to $36.00 in a research report on Thursday, August 13th. BTIG Research reaffirmed a “buy” rating and issued a $50.00 target price on shares of WhiteFiber in a research report on Wednesday, August 12th. Finally, 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 research note on Friday, August 14th. Ten investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, WhiteFiber currently has an average rating of “Moderate Buy” and a consensus target price of $37.09.

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.