WhiteFiber (NASDAQ:WYFI) Trading Down 13.5% – Should You Sell?

WhiteFiber, Inc. (NASDAQ:WYFI)’s share price traded down 13.5% during trading on Wednesday . The company traded as low as $15.65 and last traded at $15.96. 963,062 shares were traded during trading, a decline of 16% from the average session volume of 1,141,495 shares. The stock had previously closed at $18.45.

Analyst Upgrades and Downgrades

Several brokerages have commented on WYFI. HC Wainwright restated a “buy” rating and issued a $34.00 price objective on shares of WhiteFiber in a report on Monday, January 26th. Citizens Jmp began coverage on shares of WhiteFiber in a research note on Wednesday, November 19th. They issued a “market outperform” rating and a $37.00 price target for the company. Weiss Ratings restated a “sell (d)” rating on shares of WhiteFiber in a report on Monday, December 29th. JMP Securities set a $37.00 target price on WhiteFiber in a report on Wednesday, November 19th. Finally, Compass Point began coverage on WhiteFiber in a research report on Tuesday, December 16th. They set a “buy” rating and a $32.00 price target on the stock. Nine analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $36.30.

WhiteFiber Trading Down 12.6%

The company has a market cap of $617.13 million and a P/E ratio of -34.32. The business has a fifty day moving average of $18.48.

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

Institutional Investors Weigh In On WhiteFiber

A number of large investors have recently made changes to their positions in WYFI. Strs Ohio purchased a new stake in WhiteFiber during the fourth quarter valued at approximately $30,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of WhiteFiber during the 4th quarter valued at $55,000. Prelude Capital Management LLC bought a new stake in shares of WhiteFiber during the 3rd quarter valued at $258,000. J.W. Cole Advisors Inc. purchased a new stake in shares of WhiteFiber in the 3rd quarter worth $260,000. Finally, CCG Wealth Management LLC bought a new position in WhiteFiber in the 4th quarter worth $263,000.

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.