WhiteFiber (NASDAQ:WYFI) Shares Down 6.7% – Time to Sell?

WhiteFiber, Inc. (NASDAQ:WYFI) shares fell 6.7% on Wednesday . The stock traded as low as $39.64 and last traded at $41.7660. Approximately 902,980 shares changed hands during trading, a decline of 29% from the average session volume of 1,276,043 shares. The stock had previously closed at $44.76.

Analysts Set New Price Targets

WYFI has been the topic of several research reports. Cantor Fitzgerald lifted their price objective on shares of WhiteFiber from $13.00 to $27.00 and gave the stock a “neutral” rating in a research report on Friday, May 15th. Barclays assumed coverage on shares of WhiteFiber in a research report on Tuesday, June 9th. They set an “equal weight” rating and a $27.00 target price for the company. B. Riley Financial restated a “buy” rating on shares of WhiteFiber in a research note on Monday, May 18th. HC Wainwright lowered their price target on shares of WhiteFiber from $34.00 to $20.00 and set a “buy” rating on the stock in a report on Friday, March 27th. Finally, Needham & Company LLC upped their price objective on WhiteFiber from $36.00 to $38.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Ten equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, WhiteFiber has an average rating of “Moderate Buy” and a consensus target price of $33.42.

WhiteFiber Stock Performance

The company has a market capitalization of $1.64 billion and a P/E ratio of -29.33. The company has a current ratio of 2.77, a quick ratio of 2.77 and a debt-to-equity ratio of 0.63. The company’s fifty day moving average is $25.10 and its 200 day moving average is $19.80.

WhiteFiber (NASDAQ:WYFI) last issued its earnings results on Thursday, May 14th. The company reported ($0.31) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.07). The business had revenue of $21.92 million for the quarter. WhiteFiber had a negative net margin of 45.24% and a negative return on equity of 9.40%. The company’s revenue was up 30.4% on a year-over-year basis. As a group, equities analysts anticipate that WhiteFiber, Inc. will post -1.01 earnings per share for the current year.

Institutional Investors Weigh In On WhiteFiber

Several hedge funds and other institutional investors have recently modified their holdings of WYFI. Strs Ohio bought a new position in shares of WhiteFiber in the fourth quarter valued at approximately $30,000. Royal Bank of Canada lifted its stake in WhiteFiber by 108.2% in the 4th quarter. Royal Bank of Canada now owns 2,394 shares of the company’s stock worth $37,000 after purchasing an additional 1,244 shares in the last quarter. Police & Firemen s Retirement System of New Jersey bought a new position in WhiteFiber in the 4th quarter valued at $44,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in WhiteFiber in the 4th quarter valued at $55,000. Finally, MetLife Investment Management LLC purchased a new position in shares of WhiteFiber during the 4th quarter valued at $106,000.

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.