WhiteFiber (NASDAQ:WYFI) Stock Price Down 6.6% – What’s Next?

WhiteFiber, Inc. (NASDAQ:WYFI) dropped 6.6% on Tuesday . The company traded as low as $17.00 and last traded at $17.35. Approximately 120,174 shares traded hands during trading, a decline of 90% from the average daily volume of 1,208,161 shares. The stock had previously closed at $18.58.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. B. Riley reissued a “buy” rating on shares of WhiteFiber in a report on Wednesday, October 22nd. Craig Hallum assumed coverage on shares of WhiteFiber in a research note on Tuesday, September 2nd. They issued a “buy” rating and a $25.00 price target on the stock. Wall Street Zen lowered WhiteFiber from a “hold” rating to a “sell” rating in a research note on Friday, September 5th. HC Wainwright began coverage on WhiteFiber in a report on Wednesday, October 1st. They set a “buy” rating and a $34.00 target price on the stock. Finally, UBS Group set a $51.00 price objective on shares of WhiteFiber in a research report on Monday, October 6th. Eight investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, WhiteFiber presently has an average rating of “Moderate Buy” and a consensus target price of $36.11.

WhiteFiber Trading Down 5.4%

The stock’s fifty day simple moving average is $28.18.

WhiteFiber (NASDAQ:WYFI) last released its quarterly earnings results on Thursday, November 13th. The company reported ($0.47) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.35). The business had revenue of $20.18 million for the quarter, compared to analyst estimates of $21.18 million. WhiteFiber’s revenue was up 64.2% on a year-over-year basis.

Institutional Trading of WhiteFiber

Several large investors have recently bought and sold shares of the company. Clearfield Capital Management LP purchased a new position in shares of WhiteFiber during the third quarter valued at approximately $6,778,000. Portolan Capital Management LLC bought a new position in WhiteFiber during the 3rd quarter valued at about $4,365,000. Ghisallo Capital Management LLC bought a new position in WhiteFiber during the third quarter valued at approximately $679,000. Gladstone Institutional Advisory LLC purchased a new position in shares of WhiteFiber in the 3rd quarter worth $349,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of WhiteFiber during the 3rd quarter valued at about $1,167,000.

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”).