WhiteFiber (NASDAQ:WYFI) Shares Gap Down – What’s Next?

WhiteFiber, Inc. (NASDAQ:WYFI) gapped down prior to trading on Thursday . The stock had previously closed at $13.45, but opened at $12.80. WhiteFiber shares last traded at $13.27, with a volume of 117,405 shares trading hands.

Analysts Set New Price Targets

WYFI has been the subject of a number of research reports. Weiss Ratings reiterated a “sell (d)” rating on shares of WhiteFiber in a research note on Friday, March 27th. Cantor Fitzgerald initiated coverage on WhiteFiber in a research note on Thursday. They issued a “neutral” rating and a $13.00 price objective for the company. HC Wainwright reduced their price objective on WhiteFiber from $34.00 to $20.00 and set a “buy” rating for the company in a research note on Friday, March 27th. Compass Point assumed coverage on WhiteFiber in a research note on Tuesday, December 16th. They issued a “buy” rating and a $32.00 price objective for the company. Finally, Needham & Company LLC cut their price target on WhiteFiber from $38.00 to $36.00 and set a “buy” rating for the company in a research note on Friday, March 27th. Nine analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $32.30.

WhiteFiber Price Performance

The company has a 50 day moving average price of $16.05 and a 200 day moving average price of $20.87. The firm has a market cap of $527.40 million and a PE ratio of -12.07.

WhiteFiber (NASDAQ:WYFI) last released its quarterly earnings results on Thursday, March 26th. The company reported ($0.67) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.53). The firm had revenue of $23.56 million during the quarter, compared to analyst estimates of $23.07 million.

Institutional Investors Weigh In On WhiteFiber

Several large investors have recently modified their holdings of the stock. Strs Ohio acquired a new position in WhiteFiber during the fourth quarter worth $30,000. Royal Bank of Canada grew its holdings in 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 acquiring an additional 1,244 shares during the period. Police & Firemen s Retirement System of New Jersey acquired a new position in WhiteFiber during the fourth quarter worth $44,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in WhiteFiber during the fourth quarter worth $55,000. Finally, MetLife Investment Management LLC acquired a new position in WhiteFiber during the fourth quarter worth $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.