WhiteFiber (NASDAQ:WYFI) Reaches New 52-Week Low – What’s Next?

WhiteFiber, Inc. (NASDAQ:WYFI)’s share price reached a new 52-week low during trading on Friday . The company traded as low as $13.89 and last traded at $13.8680, with a volume of 485427 shares traded. The stock had previously closed at $15.13.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on WYFI. HC Wainwright reiterated a “buy” rating and set a $34.00 target price on shares of WhiteFiber in a report on Monday, January 26th. B. Riley Financial cut their price target 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. Compass Point started coverage on shares of WhiteFiber in a research note on Tuesday, December 16th. They set a “buy” rating and a $32.00 price objective for the company. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of WhiteFiber in a research report on Monday, December 29th. Nine 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 data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $36.22.

WhiteFiber Stock Down 8.5%

The stock has a 50 day simple moving average of $17.98 and a 200 day simple moving average of $21.53. The company has a market cap of $529.90 million and a price-to-earnings ratio of -29.47.

Hedge Funds Weigh In On WhiteFiber

Several hedge funds and other institutional investors have recently bought and sold shares of WYFI. Strs Ohio acquired a new stake in WhiteFiber in the fourth quarter valued at approximately $30,000. Royal Bank of Canada lifted its position 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 worth $37,000 after purchasing an additional 1,244 shares in the last quarter. Police & Firemen s Retirement System of New Jersey acquired a new position in shares of WhiteFiber during the fourth quarter worth $44,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of WhiteFiber in the fourth quarter valued at $55,000. Finally, MetLife Investment Management LLC acquired a new stake in WhiteFiber during the 4th quarter valued at $106,000.

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.