WhiteFiber (NASDAQ:WYFI) Stock Price Down 6.5% – Time to Sell?

WhiteFiber, Inc. (NASDAQ:WYFI)’s stock price was down 6.5% during trading on Wednesday . The stock traded as low as $17.17 and last traded at $17.22. Approximately 390,343 shares were traded during trading, a decline of 64% from the average daily volume of 1,071,746 shares. The stock had previously closed at $18.41.

Analyst Ratings Changes

WYFI has been the subject of several recent research reports. HC Wainwright restated a “buy” rating and issued a $34.00 price target on shares of WhiteFiber in a research report on Monday, January 26th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of WhiteFiber in a research note on Monday, December 29th. Citizens Jmp set a $37.00 target price on WhiteFiber in a research report on Wednesday, November 19th. B. Riley Financial decreased their price objective on WhiteFiber from $44.00 to $40.00 and set a “buy” rating for the company in a report on Wednesday, December 24th. Finally, Roth Mkm cut their price target on shares of WhiteFiber from $42.00 to $37.00 and set a “buy” rating on the stock in a report on Friday, November 14th. Nine analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $36.22.

WhiteFiber Trading Down 5.3%

The firm has a market cap of $667.25 million and a PE ratio of -37.11. The firm has a 50 day moving average price of $18.15.

Institutional Trading of WhiteFiber

A number of institutional investors have recently added to or reduced their stakes in the stock. Empowered Funds LLC bought a new position in WhiteFiber in the 4th quarter worth about $791,000. XTX Topco Ltd purchased a new stake in shares of WhiteFiber in the fourth quarter worth about $248,000. Balyasny Asset Management L.P. boosted its position in shares of WhiteFiber by 67.7% in the fourth quarter. Balyasny Asset Management L.P. now owns 457,749 shares of the company’s stock valued at $7,232,000 after acquiring an additional 184,829 shares during the period. Lazard Asset Management LLC purchased a new position in WhiteFiber during the fourth quarter valued at approximately $1,797,000. Finally, Price T Rowe Associates Inc. MD increased its holdings in WhiteFiber by 4.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 600,315 shares of the company’s stock worth $9,486,000 after acquiring an additional 24,189 shares during the period.

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.