WhiteFiber (NASDAQ:WYFI) Shares Down 5.6% – Here’s What Happened

WhiteFiber, Inc. (NASDAQ:WYFI) dropped 5.6% on Thursday . The stock traded as low as $26.14 and last traded at $26.4640. Approximately 378,192 shares traded hands during trading, a decline of 67% from the average daily volume of 1,139,045 shares. The stock had previously closed at $28.03.

Analyst Ratings Changes

WYFI has been the subject of several recent research reports. Needham & Company LLC boosted their price objective on WhiteFiber from $36.00 to $38.00 and gave the company a “buy” rating in a report on Friday, May 15th. Cantor Fitzgerald boosted their price objective on WhiteFiber from $13.00 to $27.00 and gave the company a “neutral” rating in a report on Friday, May 15th. Weiss Ratings restated a “sell (d)” rating on shares of WhiteFiber in a report on Friday, March 27th. BTIG Research boosted their price objective on WhiteFiber from $20.00 to $35.00 and gave the company a “buy” rating in a report on Thursday, May 14th. Finally, HC Wainwright decreased their price objective on WhiteFiber from $34.00 to $20.00 and set a “buy” rating for the company in a report on Friday, March 27th. Ten equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $34.00.

WhiteFiber Stock Up 0.4%

The stock’s fifty day moving average is $19.92 and its two-hundred day moving average is $18.57. 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 has a market capitalization of $1.09 billion and a PE ratio of -19.37.

WhiteFiber (NASDAQ:WYFI) last released its earnings results on Thursday, May 14th. The company reported ($0.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.07). The company 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 firm’s quarterly revenue was up 30.4% compared to the same quarter last year. As a group, analysts predict that WhiteFiber, Inc. will post -1.01 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in WYFI. Bank of America Corp DE boosted its stake in shares of WhiteFiber by 220.9% in the 1st quarter. Bank of America Corp DE now owns 60,113 shares of the company’s stock valued at $716,000 after purchasing an additional 41,383 shares in the last quarter. Feynman Point Asset Management LLC boosted its stake in shares of WhiteFiber by 6.9% in the 1st quarter. Feynman Point Asset Management LLC now owns 169,900 shares of the company’s stock valued at $2,024,000 after purchasing an additional 11,000 shares in the last quarter. Lazard Asset Management LLC boosted its stake in shares of WhiteFiber by 16.6% in the 1st quarter. Lazard Asset Management LLC now owns 132,693 shares of the company’s stock valued at $1,580,000 after purchasing an additional 18,928 shares in the last quarter. Sculptor Capital LP purchased a new position in WhiteFiber in the 1st quarter worth approximately $476,000. Finally, Galaxy Digital Inc. bought a new position in shares of WhiteFiber in the first quarter worth approximately $834,000.

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.