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

WhiteFiber, Inc. (NASDAQ:WYFI) gapped down prior to trading on Wednesday . The stock had previously closed at $38.85, but opened at $36.34. WhiteFiber shares last traded at $35.3470, with a volume of 689,429 shares.

Analysts Set New Price Targets

Several equities research analysts have weighed in on WYFI shares. Barclays initiated coverage on shares of WhiteFiber in a research report on Tuesday, June 9th. They set an “equal weight” rating and a $27.00 price target for the company. B. Riley Financial reaffirmed a “buy” rating on shares of WhiteFiber in a research note on Monday, May 18th. Needham & Company LLC increased their target price on shares of WhiteFiber from $36.00 to $38.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Weiss Ratings reissued a “sell (d)” rating on shares of WhiteFiber in a research note on Wednesday, June 24th. Finally, Cantor Fitzgerald boosted their price target on WhiteFiber from $13.00 to $27.00 and gave the company a “neutral” rating in a report on Friday, May 15th. Ten 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.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.67.

WhiteFiber Stock Performance

The company’s 50-day moving average price is $27.96 and its 200 day moving average price is $20.63. The stock has a market capitalization of $1.21 billion and a PE ratio of -21.68. The company has a debt-to-equity ratio of 0.63, a quick ratio of 2.77 and a current ratio of 2.77.

WhiteFiber (NASDAQ:WYFI) last announced its quarterly earnings results on Thursday, May 14th. The company reported ($0.31) earnings per share (EPS) for the quarter, missing the consensus estimate 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 business’s revenue was up 30.4% on a year-over-year basis. On average, equities research analysts expect that WhiteFiber, Inc. will post -1.01 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in WYFI. Situational Awareness LP bought a new stake in shares of WhiteFiber during the fourth quarter valued at approximately $27,770,000. Clearfield Capital Management LP lifted its position in WhiteFiber by 426.6% during the fourth quarter. Clearfield Capital Management LP now owns 1,313,659 shares of the company’s stock valued at $20,756,000 after buying an additional 1,064,177 shares during the period. Price T Rowe Associates Inc. MD lifted its position in WhiteFiber by 4.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 600,315 shares of the company’s stock valued at $9,486,000 after buying an additional 24,189 shares during the period. Balyasny Asset Management L.P. boosted its holdings in shares of WhiteFiber by 67.7% during the 4th quarter. Balyasny Asset Management L.P. now owns 457,749 shares of the company’s stock valued at $7,232,000 after buying an additional 184,829 shares in the last quarter. Finally, Marshall Wace LLP bought a new stake in shares of WhiteFiber during the 3rd quarter valued at $9,105,000.

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.