WhiteFiber (NASDAQ:WYFI) Shares Down 11.3% – Time to Sell?

WhiteFiber, Inc. (NASDAQ:WYFI) shares were down 11.3% on Friday . The stock traded as low as $16.39 and last traded at $16.42. Approximately 359,803 shares were traded during trading, a decline of 63% from the average daily volume of 967,922 shares. The stock had previously closed at $18.51.

Analyst Ratings Changes

A number of research firms have commented on WYFI. Citizens Jmp set a $37.00 target price on WhiteFiber in a report on Wednesday, November 19th. Needham & Company LLC cut their target price on shares of WhiteFiber from $45.00 to $38.00 and set a “buy” rating for the company in a research report on Friday, November 14th. Citigroup started coverage on shares of WhiteFiber in a research report on Wednesday, November 19th. They set an “outperform” rating for the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of WhiteFiber in a report on Monday, December 29th. Finally, Roth Mkm lowered their target price on WhiteFiber from $42.00 to $37.00 and set a “buy” rating on the stock in a research report on Friday, November 14th. Nine investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.22.

WhiteFiber Stock Down 9.7%

The company has a market cap of $639.32 million and a P/E ratio of -35.55. The stock’s fifty day simple moving average is $18.33.

Institutional Investors Weigh In On WhiteFiber

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WYFI. Situational Awareness LP bought a new stake in shares of WhiteFiber during the fourth quarter valued at approximately $27,770,000. Clearfield Capital Management LP increased its holdings in WhiteFiber by 426.6% during the 4th quarter. Clearfield Capital Management LP now owns 1,313,659 shares of the company’s stock worth $20,756,000 after purchasing an additional 1,064,177 shares during the period. Monashee Investment Management LLC bought a new stake in WhiteFiber during the 3rd quarter valued at $9,645,000. Marshall Wace LLP purchased a new stake in shares of WhiteFiber in the 3rd quarter worth $9,105,000. Finally, Wasatch Advisors LP bought a new position in shares of WhiteFiber during the 3rd quarter worth $8,382,000.

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.