WhiteFiber (NASDAQ:WYFI) Shares Down 8.7% – Here’s Why

Shares of WhiteFiber, Inc. (NASDAQ:WYFI) fell 8.7% during trading on Friday . The stock traded as low as $24.53 and last traded at $23.9610. 654,982 shares changed hands during trading, a decline of 58% from the average session volume of 1,574,082 shares. The stock had previously closed at $26.25.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on WYFI shares. Cantor Fitzgerald boosted their target price on shares of WhiteFiber from $13.00 to $27.00 and gave the company a “neutral” rating in a research report on Friday, May 15th. B. Riley Financial restated a “buy” rating on shares of WhiteFiber in a report on Monday, May 18th. BTIG Research upped their price objective on shares of WhiteFiber from $35.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, June 24th. Barclays raised their target price on WhiteFiber from $27.00 to $29.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 21st. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of WhiteFiber in a research note on Wednesday, June 24th. Ten research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, WhiteFiber presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.83.

WhiteFiber Trading Down 9.7%

The firm has a market cap of $915.06 million and a price-to-earnings ratio of -16.34. The firm’s 50-day moving average is $30.95 and its 200-day moving average is $22.46. The company has a current ratio of 2.77, a quick ratio of 2.77 and a debt-to-equity ratio of 0.63.

WhiteFiber (NASDAQ:WYFI) last posted its earnings results on Thursday, May 14th. The company reported ($0.31) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.07). The business had revenue of $21.92 million for the quarter. WhiteFiber had a negative return on equity of 9.40% and a negative net margin of 45.24%.The firm’s quarterly revenue was up 30.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that WhiteFiber, Inc. will post -1.26 EPS for the current fiscal year.

Institutional Investors Weigh In On WhiteFiber

Several institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. bought a new stake in shares of WhiteFiber in the 3rd quarter worth $2,718,000. Galaxy Digital Inc. bought a new position in shares of WhiteFiber during the first quarter valued at about $834,000. Situational Awareness LP purchased a new position in WhiteFiber during the fourth quarter worth about $27,770,000. Buffalo Business & Estate Services Ltd. bought a new stake in WhiteFiber in the 1st quarter worth about $602,000. Finally, CenterBook Partners LP bought a new stake in WhiteFiber in the 4th quarter worth about $3,873,000.

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.