WhiteFiber (NASDAQ:WYFI) Shares Up 21.7% – Here’s What Happened

Shares of WhiteFiber, Inc. (NASDAQ:WYFI) rose 21.7% during trading on Friday . The company traded as high as $17.55 and last traded at $17.52. Approximately 719,649 shares traded hands during mid-day trading, a decline of 37% from the average daily volume of 1,148,970 shares. The stock had previously closed at $14.40.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Citizens Jmp started coverage on WhiteFiber in a research report on Wednesday, November 19th. They issued a “market outperform” rating and a $37.00 target price for the company. Compass Point began coverage on WhiteFiber in a research report on Tuesday, December 16th. They issued a “buy” rating and a $32.00 price target on the stock. Citigroup started coverage on WhiteFiber in a research report on Wednesday, November 19th. They set an “outperform” rating on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $34.00 price target on shares of WhiteFiber in a research note on Monday, January 26th. Finally, Roth Mkm reduced their price objective on shares of WhiteFiber from $42.00 to $37.00 and set a “buy” rating on the stock in a research note on Friday, November 14th. Nine investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.30.

WhiteFiber Stock Performance

The stock has a market capitalization of $710.49 million and a PE ratio of -39.51. The firm’s 50 day moving average price is $18.24.

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Gladstone Institutional Advisory LLC bought a new stake in WhiteFiber during the 3rd quarter worth about $349,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of WhiteFiber in the third quarter valued at about $1,167,000. Principal Financial Group Inc. acquired a new stake in shares of WhiteFiber in the third quarter valued at about $1,534,000. J.W. Cole Advisors Inc. bought a new stake in WhiteFiber during the third quarter worth about $260,000. Finally, JPMorgan Chase & Co. acquired a new position in WhiteFiber during the third quarter valued at approximately $2,718,000.

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.