WhiteFiber (NASDAQ:WYFI) Director Ichi Shih Sells 7,059 Shares

WhiteFiber, Inc. (NASDAQ:WYFI) Director Ichi Shih sold 7,059 shares of the stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $30.12, for a total value of $212,617.08. Following the sale, the director directly owned 4,657 shares of the company’s stock, valued at approximately $140,268.84. This trade represents a 60.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

WhiteFiber Stock Down 7.5%

Shares of WhiteFiber stock opened at $17.50 on Wednesday. The stock has a market capitalization of $679.84 million and a price-to-earnings ratio of -9.51. WhiteFiber, Inc. has a 52-week low of $10.51 and a 52-week high of $46.87. 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’s 50 day moving average price is $27.70 and its 200-day moving average price is $23.13.

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

Analysts Set New Price Targets

A number of research firms have weighed in on WYFI. BTIG Research reiterated a “buy” rating and set a $50.00 target price on shares of WhiteFiber in a report on Wednesday, August 12th. Cantor Fitzgerald raised shares of 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 report on Thursday, August 13th. Needham & Company LLC raised their price objective on shares of WhiteFiber from $38.00 to $41.00 and gave the company a “buy” rating in a research note on Thursday, August 13th. Weiss Ratings cut shares of WhiteFiber from a “sell (d)” rating to a “sell (d-)” rating in a report on Wednesday, August 12th. Finally, B. Riley Financial reiterated a “buy” rating on shares of WhiteFiber in a report on Monday, May 18th. Ten analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $37.09.

Institutional Investors Weigh In On WhiteFiber

Several hedge funds and other institutional investors have recently made changes to their positions in WYFI. JPMorgan Chase & Co. purchased a new stake in WhiteFiber during the third quarter valued at approximately $2,718,000. Vanguard Group Inc. bought a new position in WhiteFiber in the 3rd quarter worth $6,563,000. Russell Investments Group Ltd. purchased a new stake in WhiteFiber in the 3rd quarter worth $1,278,000. Van ECK Associates Corp purchased a new stake in WhiteFiber in the 3rd quarter worth $579,000. Finally, UBS Group AG bought a new stake in WhiteFiber during the third quarter valued at about $763,000.

About WhiteFiber

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.