WhiteFiber (NASDAQ:WYFI) Shares Down 5.6% – What’s Next?

WhiteFiber, Inc. (NASDAQ:WYFI) was down 5.6% during mid-day trading on Thursday. The company traded as low as $16.88 and last traded at $17.0020. Approximately 590,579 shares were traded during mid-day trading, a decline of 65% from the average session volume of 1,697,915 shares. The stock had previously closed at $18.01.

Analyst Upgrades and Downgrades

WYFI has been the subject of a number of research analyst reports. Needham & Company LLC raised their target price on WhiteFiber from $38.00 to $41.00 and gave the company a “buy” rating in a report on Thursday, August 13th. Weiss Ratings cut shares of WhiteFiber from a “sell (d)” rating to a “sell (d-)” rating in a research report on Wednesday, August 12th. Barclays upped their price objective on WhiteFiber from $29.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Friday, August 14th. Cantor Fitzgerald upgraded WhiteFiber from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $27.00 to $36.00 in a research note on Thursday, August 13th. Finally, BTIG Research reiterated a “buy” rating and issued a $50.00 target price on shares of WhiteFiber in a report on Wednesday, August 12th. Nine analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $39.30.

WhiteFiber Stock Performance

The firm has a 50 day moving average of $21.62 and a two-hundred day moving average of $23.36. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.79 and a quick ratio of 0.79. The stock has a market cap of $684.15 million and a PE ratio of -9.59.

WhiteFiber (NASDAQ:WYFI) last posted its earnings results on Wednesday, August 12th. The company reported ($0.39) EPS for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.01. The firm had revenue of $28.84 million for the quarter. WhiteFiber had a negative net margin of 46.87% and a negative return on equity of 10.72%. Research analysts predict that WhiteFiber, Inc. will post -1.05 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of WYFI. Tidal Investments LLC increased its stake in WhiteFiber by 115.9% in the second quarter. Tidal Investments LLC now owns 125,510 shares of the company’s stock valued at $4,876,000 after purchasing an additional 67,379 shares during the period. WINTON GROUP Ltd purchased a new position in shares of WhiteFiber during the second quarter worth about $439,000. Integrated Wealth Concepts LLC acquired a new position in WhiteFiber in the 2nd quarter valued at about $36,000. Round Rock Advisors LLC increased its position in WhiteFiber by 146.6% in the 2nd quarter. Round Rock Advisors LLC now owns 45,386 shares of the company’s stock valued at $1,763,000 after acquiring an additional 26,981 shares during the period. Finally, CoreCap Advisors LLC purchased a new stake in WhiteFiber during the 2nd quarter valued at approximately $235,000.

WhiteFiber Company Profile

WhiteFiber, Inc (NASDAQ: WYFI) is a digital infrastructure company focused on providing data center and high-performance computing services. Its platform is designed to support demanding workloads, including artificial intelligence, machine learning, scientific computing and other data-intensive applications.

The company’s services include dedicated computing infrastructure, GPU-based computing, cloud and bare-metal solutions, data center capacity and related managed services. These offerings are intended for organizations that require scalable computing power, secure facilities and reliable connectivity without building and operating all of the necessary infrastructure themselves.

WhiteFiber serves enterprise, technology and specialized computing customers through data center operations and infrastructure located in North America.