Shares of WhiteFiber, Inc. (NASDAQ:WYFI – Get Free Report) gapped up before the market opened on Wednesday following a stronger than expected earnings report. The stock had previously closed at $24.22, but opened at $27.43. WhiteFiber shares last traded at $28.3150, with a volume of 814,011 shares changing hands.
The company reported ($0.39) earnings per share for the quarter, beating the consensus estimate of ($0.40) by $0.01. The business had revenue of $28.84 million for the quarter. WhiteFiber had a negative net margin of 45.24% and a negative return on equity of 9.40%.
Analysts Set New Price Targets
Several research analysts have issued reports on the company. Needham & Company LLC boosted their target price on WhiteFiber from $36.00 to $38.00 and gave the company a “buy” rating in a research report on Friday, May 15th. Cantor Fitzgerald raised their price target on WhiteFiber from $13.00 to $27.00 and gave the stock a “neutral” rating in a research note on Friday, May 15th. BTIG Research boosted their price objective on WhiteFiber from $35.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, June 24th. B. Riley Financial reiterated a “buy” rating on shares of WhiteFiber in a research note on Monday, May 18th. Finally, Barclays lifted their target price on WhiteFiber from $27.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 21st. Ten research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, WhiteFiber currently has an average rating of “Moderate Buy” and an average price target of $34.83.
Institutional Investors Weigh In On WhiteFiber
Several hedge funds have recently made changes to their positions in WYFI. Strs Ohio purchased a new position in shares of WhiteFiber during the fourth quarter valued at $30,000. Royal Bank of Canada lifted its stake in WhiteFiber by 108.2% in the fourth 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 bought a new position in WhiteFiber during the 4th quarter worth about $44,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in WhiteFiber during the 4th quarter worth about $55,000. Finally, MetLife Investment Management LLC purchased a new position in WhiteFiber during the 4th quarter valued at about $106,000.
WhiteFiber Stock Performance
The firm’s fifty day moving average price is $30.13 and its 200 day moving average price is $22.77. The firm has a market cap of $1.09 billion and a P/E ratio of -19.83. 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 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.
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