WhiteFiber (NASDAQ:WYFI) Shares Up 20.1% – Still a Buy?

WhiteFiber, Inc. (NASDAQ:WYFI)’s stock price rose 20.1% on Thursday . The company traded as high as $24.72 and last traded at $24.7230. 379,081 shares traded hands during mid-day trading, a decline of 76% from the average daily volume of 1,566,330 shares. The stock had previously closed at $20.58.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on WYFI. Weiss Ratings reissued a “sell (d)” rating on shares of WhiteFiber in a research report on Wednesday, June 24th. Needham & Company LLC upped their price objective on shares of WhiteFiber from $36.00 to $38.00 and gave the stock a “buy” rating in a report on Friday, May 15th. B. Riley Financial reaffirmed a “buy” rating on shares of WhiteFiber in a research note on Monday, May 18th. Cantor Fitzgerald lifted 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. Finally, BTIG Research boosted their price target on WhiteFiber from $35.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, June 24th. Ten analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, WhiteFiber currently has a consensus rating of “Moderate Buy” and an average target price of $34.83.

WhiteFiber Price Performance

The company has a quick ratio of 2.77, a current ratio of 2.77 and a debt-to-equity ratio of 0.63. The firm has a fifty day moving average price of $31.14 and a two-hundred day moving average price of $22.39. The stock has a market capitalization of $999.92 million and a P/E ratio of -17.99.

WhiteFiber (NASDAQ:WYFI) last announced its quarterly 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). WhiteFiber had a negative return on equity of 9.40% and a negative net margin of 45.24%.The firm had revenue of $21.92 million during the quarter. The company’s revenue was up 30.4% on a year-over-year basis. On average, analysts expect that WhiteFiber, Inc. will post -1.26 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Strs Ohio purchased a new stake in shares of WhiteFiber during the fourth quarter valued at approximately $30,000. Royal Bank of Canada raised its holdings 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 acquiring an additional 1,244 shares during the last quarter. Police & Firemen s Retirement System of New Jersey bought a new position in WhiteFiber in the 4th quarter valued at approximately $44,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in WhiteFiber in the 4th quarter valued at approximately $55,000. Finally, CoreCap Advisors LLC purchased a new stake in WhiteFiber during the 2nd quarter valued at $235,000.

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.