WhiteFiber (NASDAQ:WYFI) Shares Up 4.7% – Still a Buy?

Shares of WhiteFiber, Inc. (NASDAQ:WYFI) shot up 4.7% during mid-day trading on Monday . The company traded as high as $18.59 and last traded at $18.58. 1,688,520 shares were traded during mid-day trading, a decline of 3% from the average daily volume of 1,740,360 shares. The stock had previously closed at $17.75.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Needham & Company LLC lifted their price objective on WhiteFiber from $38.00 to $41.00 and gave the company a “buy” rating in a research report on Thursday, August 13th. BTIG Research reissued a “buy” rating and issued a $50.00 target price on shares of WhiteFiber in a research report on Wednesday, August 12th. Barclays raised their target price on WhiteFiber from $29.00 to $32.00 and gave the company an “equal weight” rating in a research note on Friday, August 14th. Weiss Ratings lowered WhiteFiber from a “sell (d)” rating to a “sell (d-)” rating in a research report on Wednesday, August 12th. Finally, B. Riley Financial reaffirmed a “buy” rating on shares of WhiteFiber in a research note on Monday, May 18th. Eleven investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, WhiteFiber presently has an average rating of “Moderate Buy” and a consensus target price of $36.08.

WhiteFiber Trading Up 4.5%

The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.79 and a current ratio of 0.79. The company has a market cap of $720.67 million and a P/E ratio of -10.08. The stock has a 50-day moving average of $28.76 and a two-hundred day moving average of $23.14.

WhiteFiber (NASDAQ:WYFI) last released its earnings results on Wednesday, August 12th. The company reported ($0.39) EPS for the quarter, topping the consensus estimate of ($0.40) by $0.01. WhiteFiber had a negative return on equity of 10.72% and a negative net margin of 46.87%.The business had revenue of $28.84 million for the quarter. On average, equities research analysts predict that WhiteFiber, Inc. will post -0.97 earnings per share for the current year.

Institutional Trading of WhiteFiber

Several institutional investors have recently bought and sold shares of the company. Strs Ohio purchased a new position in WhiteFiber in the fourth quarter worth about $30,000. Royal Bank of Canada grew its holdings in shares of WhiteFiber by 108.2% during the fourth quarter. Royal Bank of Canada now owns 2,394 shares of the company’s stock valued at $37,000 after buying an additional 1,244 shares during the last quarter. Police & Firemen s Retirement System of New Jersey bought a new stake in shares of WhiteFiber during the fourth quarter valued at approximately $44,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of WhiteFiber during the fourth quarter valued at approximately $55,000. Finally, MetLife Investment Management LLC purchased a new position in WhiteFiber in the 4th quarter worth approximately $106,000.

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.