WhiteFiber (NASDAQ:WYFI) Trading 6% Higher – Time to Buy?

WhiteFiber, Inc. (NASDAQ:WYFI)’s share price traded up 6% during trading on Friday . The stock traded as high as $21.82 and last traded at $20.88. 821,021 shares changed hands during trading, a decline of 19% from the average session volume of 1,012,426 shares. The stock had previously closed at $19.69.

Analyst Ratings Changes

Several research analysts have issued reports on WYFI shares. B. Riley dropped 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. Compass Point started coverage on shares of WhiteFiber in a report on Tuesday, December 16th. They set a “buy” rating and a $32.00 price objective on the stock. Citizens Jmp initiated coverage on WhiteFiber in a report on Wednesday, November 19th. They set a “market outperform” rating and a $37.00 target price for the company. Weiss Ratings reiterated a “sell (d)” rating on shares of WhiteFiber in a report on Monday, December 29th. Finally, Needham & Company LLC decreased their price objective on WhiteFiber from $45.00 to $38.00 and set a “buy” rating for the company in a research note on Friday, November 14th. Nine research 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. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $36.30.

WhiteFiber Stock Up 2.8%

The business has a 50 day simple moving average of $18.04. The firm has a market cap of $774.77 million and a PE ratio of -43.09.

WhiteFiber (NASDAQ:WYFI) last issued its quarterly earnings results on Thursday, November 13th. The company reported ($0.47) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.35). The firm had revenue of $20.18 million during the quarter, compared to analyst estimates of $21.18 million. The business’s revenue for the quarter was up 64.2% on a year-over-year basis.

Institutional Trading of WhiteFiber

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Prelude Capital Management LLC acquired a new position in shares of WhiteFiber in the third quarter valued at about $258,000. J.W. Cole Advisors Inc. purchased a new position in WhiteFiber during the 3rd quarter worth approximately $260,000. CCG Wealth Management LLC acquired a new stake in WhiteFiber during the 4th quarter valued at approximately $263,000. Militia Capital Partners LP purchased a new stake in shares of WhiteFiber in the 3rd quarter valued at $326,000. Finally, Gladstone Institutional Advisory LLC acquired a new stake in shares of WhiteFiber in the third quarter worth $349,000.

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.