WhiteFiber (NASDAQ:WYFI) Shares Down 7.2% – Should You Sell?

WhiteFiber, Inc. (NASDAQ:WYFI) shares traded down 7.2% on Wednesday . The company traded as low as $23.68 and last traded at $23.95. 327,280 shares changed hands during trading, a decline of 72% from the average session volume of 1,170,965 shares. The stock had previously closed at $25.81.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. B. Riley reissued a “buy” rating on shares of WhiteFiber in a research report on Wednesday, October 22nd. Weiss Ratings initiated coverage on shares of WhiteFiber in a research note on Friday, October 31st. They issued a “sell (d)” rating for the company. Zacks Research upgraded WhiteFiber to a “hold” rating in a research note on Wednesday, September 3rd. Craig Hallum assumed coverage on WhiteFiber in a report on Tuesday, September 2nd. They set a “buy” rating and a $25.00 target price on the stock. Finally, Roth Capital raised their price target on WhiteFiber from $28.00 to $42.00 and gave the stock a “buy” rating in a research report on Tuesday, October 28th. Six analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $37.57.

WhiteFiber Stock Performance

The business’s 50-day moving average is $28.21.

Institutional Trading of WhiteFiber

Several institutional investors and hedge funds have recently modified their holdings of WYFI. J.W. Cole Advisors Inc. bought a new position in WhiteFiber in the third quarter valued at about $260,000. Gladstone Institutional Advisory LLC bought a new position in shares of WhiteFiber in the third quarter worth about $349,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of WhiteFiber in the 3rd quarter valued at approximately $1,167,000. Principal Financial Group Inc. bought a new stake in shares of WhiteFiber during the 3rd quarter valued at approximately $1,534,000. Finally, JPMorgan Chase & Co. acquired a new position in WhiteFiber during the 3rd quarter worth approximately $2,718,000.

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”).