WhiteFiber (NASDAQ:WYFI) Shares Gap Down – Here’s What Happened

WhiteFiber, Inc. (NASDAQ:WYFI)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $38.85, but opened at $36.34. WhiteFiber shares last traded at $35.3470, with a volume of 689,429 shares traded.

Analyst Ratings Changes

A number of research firms have recently weighed in on WYFI. Weiss Ratings reiterated a “sell (d)” rating on shares of WhiteFiber in a report on Wednesday, June 24th. Needham & Company LLC boosted their price target on WhiteFiber from $36.00 to $38.00 and gave the company a “buy” rating in a report on Friday, May 15th. Barclays initiated coverage on WhiteFiber in a research report on Tuesday, June 9th. They set an “equal weight” rating and a $27.00 price target for the company. BTIG Research increased their price objective on WhiteFiber from $35.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, June 24th. Finally, Cantor Fitzgerald lifted their price objective on WhiteFiber from $13.00 to $27.00 and gave the stock a “neutral” rating in a research report on Friday, May 15th. Ten research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, WhiteFiber currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.67.

WhiteFiber Price Performance

The stock has a market cap of $1.37 billion and a PE ratio of -24.53. The business has a fifty day simple moving average of $27.28 and a two-hundred day simple moving average of $20.43. The company has a current ratio of 2.77, a quick ratio of 2.77 and a debt-to-equity ratio of 0.63.

WhiteFiber (NASDAQ:WYFI) last released its quarterly earnings results on Thursday, May 14th. The company reported ($0.31) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.07). The firm had revenue of $21.92 million for the quarter. WhiteFiber had a negative net margin of 45.24% and a negative return on equity of 9.40%. The business’s revenue for the quarter was up 30.4% compared to the same quarter last year. Research analysts forecast that WhiteFiber, Inc. will post -1.01 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of WYFI. Strs Ohio bought a new stake in WhiteFiber during the fourth quarter worth about $30,000. Royal Bank of Canada increased its stake in shares of WhiteFiber by 108.2% during the fourth quarter. Royal Bank of Canada now owns 2,394 shares of the company’s stock valued at $37,000 after purchasing an additional 1,244 shares in the last quarter. Police & Firemen s Retirement System of New Jersey purchased a new position in shares of WhiteFiber during the fourth quarter valued at approximately $44,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of WhiteFiber during the fourth quarter valued at approximately $55,000. Finally, MetLife Investment Management LLC bought a new stake in shares of WhiteFiber in the 4th quarter worth approximately $106,000.

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.