WhiteFiber (NASDAQ:WYFI) Shares Up 21.7% – Here’s What Happened

WhiteFiber, Inc. (NASDAQ:WYFI) traded up 21.7% on Friday . The stock traded as high as $17.55 and last traded at $17.52. 719,649 shares traded hands during mid-day trading, a decline of 37% from the average session volume of 1,148,970 shares. The stock had previously closed at $14.40.

Wall Street Analysts Forecast Growth

Several research analysts have commented on WYFI shares. Compass Point began coverage on WhiteFiber in a research note on Tuesday, December 16th. They issued a “buy” rating and a $32.00 target price for the company. Roth Mkm cut their price objective on shares of WhiteFiber from $42.00 to $37.00 and set a “buy” rating for the company in a research report on Friday, November 14th. Citigroup started coverage on shares of WhiteFiber in a report on Wednesday, November 19th. They set an “outperform” rating on the stock. Needham & Company LLC cut their price target on shares of WhiteFiber from $45.00 to $38.00 and set a “buy” rating for the company in a report on Friday, November 14th. Finally, B. Riley Financial reduced their price target on shares of WhiteFiber from $44.00 to $40.00 and set a “buy” rating for the company in a research report on Wednesday, December 24th. Nine research 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 a consensus rating of “Moderate Buy” and a consensus target price of $36.30.

WhiteFiber Stock Performance

The business’s 50-day moving average price is $18.30. The stock has a market cap of $718.14 million and a price-to-earnings ratio of -39.94.

WhiteFiber (NASDAQ:WYFI) last announced its quarterly earnings data on Thursday, November 13th. The company reported ($0.47) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.35). The firm had revenue of $20.18 million during the quarter, compared to analysts’ expectations of $21.18 million. The business’s revenue for the quarter was up 64.2% compared to the same quarter last year.

Hedge Funds Weigh In On WhiteFiber

Several institutional investors and hedge funds have recently made changes to their positions in the business. Strs Ohio purchased a new position in WhiteFiber in the 4th quarter worth $30,000. UBS Group AG grew its stake in shares of WhiteFiber by 604.4% during the fourth quarter. UBS Group AG now owns 197,714 shares of the company’s stock valued at $3,124,000 after buying an additional 169,646 shares during the last quarter. Round Rock Advisors LLC purchased a new position in shares of WhiteFiber in the fourth quarter worth about $291,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of WhiteFiber in the 4th quarter valued at about $55,000. Finally, Shikiar Asset Management Inc. boosted its holdings in WhiteFiber by 4.9% during the 4th quarter. Shikiar Asset Management Inc. now owns 48,790 shares of the company’s stock valued at $771,000 after acquiring an additional 2,290 shares during the period.

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.