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

WhiteFiber, Inc. (NASDAQ:WYFI) shares gapped down prior to trading on Tuesday . The stock had previously closed at $44.77, but opened at $40.43. WhiteFiber shares last traded at $45.3360, with a volume of 822,135 shares changing hands.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on WYFI. Cantor Fitzgerald upped their target price on WhiteFiber from $13.00 to $27.00 and gave the stock a “neutral” rating in a research note on Friday, May 15th. Barclays began coverage on shares of WhiteFiber in a research note on Tuesday, June 9th. They issued an “equal weight” rating and a $27.00 price target on the stock. BTIG Research restated a “buy” rating and set a $50.00 price objective on shares of WhiteFiber in a research report on Wednesday. B. Riley Financial reaffirmed a “buy” rating on shares of WhiteFiber in a report on Monday, May 18th. Finally, HC Wainwright dropped their target price on shares of WhiteFiber from $34.00 to $20.00 and set a “buy” rating on the stock in a research report on Friday, March 27th. Ten investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $34.67.

WhiteFiber Stock Performance

The company has a market cap of $1.49 billion and a PE ratio of -26.61. The company has a debt-to-equity ratio of 0.63, a quick ratio of 2.77 and a current ratio of 2.77. The firm’s 50 day moving average is $25.57 and its 200-day moving average is $19.92.

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

Hedge Funds Weigh In On WhiteFiber

Institutional investors have recently added to or reduced their stakes in the stock. Strs Ohio purchased a new stake in WhiteFiber in the 4th quarter valued at $30,000. Royal Bank of Canada raised its holdings 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 acquiring an additional 1,244 shares during the period. Police & Firemen s Retirement System of New Jersey acquired a new position in shares of WhiteFiber during the 4th quarter valued at about $44,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of WhiteFiber in the fourth quarter valued at about $55,000. Finally, MetLife Investment Management LLC acquired a new stake in WhiteFiber during the fourth quarter worth about $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.