WhiteFiber (NASDAQ:WYFI) Trading Up 8.8% – Time to Buy?

WhiteFiber, Inc. (NASDAQ:WYFI)’s stock price traded up 8.8% on Tuesday . The stock traded as high as $25.70 and last traded at $25.4490. 147,720 shares traded hands during mid-day trading, a decline of 87% from the average session volume of 1,134,757 shares. The stock had previously closed at $23.40.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. BTIG Research raised their price target on shares of WhiteFiber from $20.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday, May 14th. HC Wainwright decreased their price target on shares of WhiteFiber from $34.00 to $20.00 and set a “buy” rating on the stock in a research note on Friday, March 27th. Barclays assumed coverage on shares of WhiteFiber in a research note on Tuesday. They issued an “equal weight” rating and a $27.00 price target on the stock. Weiss Ratings reissued a “sell (d)” rating on shares of WhiteFiber in a research note on Friday, March 27th. Finally, B. Riley Financial reissued a “buy” rating on shares of WhiteFiber in a research note on Monday, May 18th. Ten investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.42.

WhiteFiber Stock Down 1.1%

The company has a debt-to-equity ratio of 0.63, a current ratio of 2.77 and a quick ratio of 2.77. The business’s 50 day simple moving average is $20.58 and its 200 day simple moving average is $18.72. The company has a market capitalization of $893.82 million and a PE ratio of -15.90.

WhiteFiber (NASDAQ:WYFI) last announced its quarterly 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). WhiteFiber had a negative net margin of 45.24% and a negative return on equity of 9.40%. The company had revenue of $21.92 million for the quarter. The firm’s revenue was up 30.4% compared to the same quarter last year. As a group, analysts anticipate that WhiteFiber, Inc. will post -1.01 earnings per share for the current fiscal year.

Institutional Trading of WhiteFiber

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