WhiteFiber (NASDAQ:WYFI) Stock Price Up 11.4% – Here’s Why

WhiteFiber, Inc. (NASDAQ:WYFI) was up 11.4% on Monday . The stock traded as high as $27.43 and last traded at $27.51. Approximately 461,072 shares changed hands during mid-day trading, a decline of 59% from the average daily volume of 1,126,426 shares. The stock had previously closed at $24.70.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on WYFI. Barclays began coverage on WhiteFiber in a research note on Tuesday, June 9th. They issued an “equal weight” rating and a $27.00 target price for the company. Weiss Ratings restated a “sell (d)” rating on shares of WhiteFiber in a research note on Friday, March 27th. BTIG Research raised their target price on WhiteFiber from $20.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday, May 14th. Cantor Fitzgerald raised their target price on WhiteFiber from $13.00 to $27.00 and gave the company a “neutral” rating in a research note on Friday, May 15th. Finally, HC Wainwright lowered their target price on WhiteFiber from $34.00 to $20.00 and set a “buy” rating for the company in a research note on Friday, March 27th. Ten analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, WhiteFiber presently has a consensus rating of “Moderate Buy” and an average price target of $33.42.

WhiteFiber Stock Up 21.4%

The stock has a 50 day simple moving average of $21.58 and a 200-day simple moving average of $18.89. The firm has a market cap of $1.16 billion and a PE ratio of -20.77. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.77 and a quick ratio of 2.77.

WhiteFiber (NASDAQ:WYFI) last announced its quarterly earnings data on Thursday, May 14th. The company reported ($0.31) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.07). The company 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%. WhiteFiber’s revenue was up 30.4% on a year-over-year basis. Sell-side analysts predict that WhiteFiber, Inc. will post -1.01 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Strs Ohio bought a new stake in shares of WhiteFiber in the 4th quarter worth $30,000. Royal Bank of Canada raised its position in WhiteFiber by 108.2% in the 4th quarter. Royal Bank of Canada now owns 2,394 shares of the company’s stock worth $37,000 after buying an additional 1,244 shares during the last quarter. Police & Firemen s Retirement System of New Jersey purchased a new position in WhiteFiber in the 4th quarter worth about $44,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in WhiteFiber in the 4th quarter worth about $55,000. Finally, MetLife Investment Management LLC purchased a new position in WhiteFiber in the 4th quarter worth about $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.