WhiteFiber (NASDAQ:WYFI) Shares Down 6.7% – Here’s Why

WhiteFiber, Inc. (NASDAQ:WYFI)’s share price fell 6.7% during trading on Wednesday . The company traded as low as $39.64 and last traded at $41.7660. 902,980 shares were traded during trading, a decline of 29% from the average daily volume of 1,276,043 shares. The stock had previously closed at $44.76.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on WYFI. Needham & Company LLC upped their target price on WhiteFiber from $36.00 to $38.00 and gave the company a “buy” rating in a research report on Friday, May 15th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of WhiteFiber in a research note on Wednesday. Cantor Fitzgerald raised their target price on shares of WhiteFiber from $13.00 to $27.00 and gave the company a “neutral” rating in a report on Friday, May 15th. Barclays initiated coverage on shares of WhiteFiber in a report on Tuesday, June 9th. They set an “equal weight” rating and a $27.00 price target for the company. Finally, HC Wainwright decreased their price objective on shares of WhiteFiber from $34.00 to $20.00 and set a “buy” rating on the stock in a research note on Friday, March 27th. 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 company’s stock. According to MarketBeat.com, WhiteFiber presently has a consensus rating of “Moderate Buy” and an average price target of $34.67.

WhiteFiber Trading Down 4.9%

The firm has a 50-day moving average of $25.99 and a two-hundred day moving average of $20.04. The firm has a market capitalization of $1.42 billion and a P/E ratio of -25.39. 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 earnings results 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 business had revenue of $21.92 million during the quarter. WhiteFiber had a negative net margin of 45.24% and a negative return on equity of 9.40%. The company’s revenue was up 30.4% on a year-over-year basis. On average, analysts anticipate that WhiteFiber, Inc. will post -1.01 EPS for the current year.

Hedge Funds Weigh In On WhiteFiber

Institutional investors have recently added to or reduced their stakes in the stock. Strs Ohio acquired a new stake in WhiteFiber in the fourth quarter valued at approximately $30,000. Royal Bank of Canada grew 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 worth $37,000 after buying an additional 1,244 shares during the last quarter. Police & Firemen s Retirement System of New Jersey acquired a new position in shares of WhiteFiber during the fourth quarter worth $44,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of WhiteFiber in the 4th quarter valued at $55,000. Finally, MetLife Investment Management LLC acquired a new stake in shares of WhiteFiber during the 4th quarter valued at $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.