WhiteFiber (NASDAQ:WYFI) Stock Price Down 6.5% – Here’s What Happened

WhiteFiber, Inc. (NASDAQ:WYFI) fell 6.5% on Wednesday . The company traded as low as $17.17 and last traded at $17.22. 390,343 shares changed hands during trading, a decline of 64% from the average session volume of 1,071,746 shares. The stock had previously closed at $18.41.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on WYFI shares. Weiss Ratings restated a “sell (d)” rating on shares of WhiteFiber in a research note on Monday, December 29th. Citigroup initiated coverage on shares of WhiteFiber in a research report on Wednesday, November 19th. They issued an “outperform” rating for the company. Roth Mkm cut their price objective on shares of WhiteFiber from $42.00 to $37.00 and set a “buy” rating for the company in a report on Friday, November 14th. B. Riley Financial lowered their target price on shares of WhiteFiber from $44.00 to $40.00 and set a “buy” rating on the stock in a report on Wednesday, December 24th. Finally, Compass Point initiated coverage on WhiteFiber in a research note on Tuesday, December 16th. They issued a “buy” rating and a $32.00 price target for the company. Nine analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, WhiteFiber presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.22.

WhiteFiber Price Performance

The business has a 50 day simple moving average of $18.15. The firm has a market cap of $667.25 million and a PE ratio of -37.11.

Institutional Trading of WhiteFiber

Hedge funds have recently added to or reduced their stakes in the stock. Empowered Funds LLC bought a new position in shares of WhiteFiber in the 4th quarter valued at $791,000. XTX Topco Ltd bought a new position in WhiteFiber in the fourth quarter valued at about $248,000. Balyasny Asset Management L.P. boosted its stake in shares of WhiteFiber by 67.7% during the fourth quarter. Balyasny Asset Management L.P. now owns 457,749 shares of the company’s stock valued at $7,232,000 after purchasing an additional 184,829 shares in the last quarter. Lazard Asset Management LLC acquired a new stake in shares of WhiteFiber during the fourth quarter valued at about $1,797,000. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of WhiteFiber by 4.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 600,315 shares of the company’s stock worth $9,486,000 after purchasing an additional 24,189 shares during the last quarter.

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.