WhiteFiber (NASDAQ:WYFI) Sees Large Volume Increase – Still a Buy?

WhiteFiber, Inc. (NASDAQ:WYFI) shares saw strong trading volume on Tuesday . 801,284 shares were traded during mid-day trading, a decline of 17% from the previous session’s volume of 960,273 shares.The stock last traded at $24.1670 and had previously closed at $26.98.

Analysts Set New Price Targets

WYFI has been the topic of several research reports. BTIG Research upped their price objective on shares of WhiteFiber from $20.00 to $35.00 and gave the company a “buy” rating in a report on Thursday. Weiss Ratings restated a “sell (d)” rating on shares of WhiteFiber in a research note on Friday, March 27th. HC Wainwright dropped their price target on WhiteFiber from $34.00 to $20.00 and set a “buy” rating on the stock in a research note on Friday, March 27th. Cantor Fitzgerald started coverage on WhiteFiber in a report on Thursday, April 9th. They issued a “neutral” rating and a $13.00 price target on the stock. Finally, Needham & Company LLC reduced their price objective on WhiteFiber from $38.00 to $36.00 and set a “buy” rating for the company in a research note on Friday, March 27th. Ten investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, WhiteFiber currently has an average rating of “Moderate Buy” and a consensus price target of $32.55.

WhiteFiber Price Performance

The stock has a market cap of $1.15 billion and a price-to-earnings ratio of -26.31. The company’s fifty day simple moving average is $16.25 and its two-hundred day simple moving average is $18.69.

WhiteFiber (NASDAQ:WYFI) last issued its quarterly earnings data 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 firm had revenue of $21.92 million for the quarter. The company’s revenue for the quarter was up 30.4% on a year-over-year basis. On average, analysts forecast that WhiteFiber, Inc. will post -0.93 earnings per share for the current year.

Institutional Trading of WhiteFiber

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Fortress Investment Group LLC bought a new stake in WhiteFiber during the third quarter worth $4,301,000. JPMorgan Chase & Co. bought a new position in WhiteFiber during the 3rd quarter valued at $2,718,000. Monashee Investment Management LLC purchased a new position in WhiteFiber during the 3rd quarter worth $9,645,000. Principal Financial Group Inc. bought a new stake in shares of WhiteFiber in the 3rd quarter worth $1,534,000. Finally, Clearfield Capital Management LP bought a new stake in shares of WhiteFiber in the 3rd quarter worth $6,778,000.

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.