WhiteFiber (NASDAQ:WYFI) Trading 10.4% Higher – Here’s What Happened

WhiteFiber, Inc. (NASDAQ:WYFI)’s share price was up 10.4% during mid-day trading on Thursday . The stock traded as high as $21.59 and last traded at $21.46. Approximately 646,719 shares traded hands during trading, a decline of 46% from the average daily volume of 1,187,583 shares. The stock had previously closed at $19.43.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Citizens Jmp assumed coverage on WhiteFiber in a research report on Wednesday, November 19th. They issued a “market outperform” rating and a $37.00 price target for the company. HC Wainwright assumed coverage on shares of WhiteFiber in a report on Wednesday, October 1st. They issued a “buy” rating and a $34.00 target price for the company. UBS Group set a $51.00 price target on shares of WhiteFiber in a research report on Monday, October 6th. Wall Street Zen downgraded shares of WhiteFiber from a “hold” rating to a “sell” rating in a research report on Friday, September 5th. Finally, Needham & Company LLC decreased their price objective on shares of WhiteFiber from $45.00 to $38.00 and set a “buy” rating for the company in a research note on Friday, November 14th. Eight equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $36.11.

WhiteFiber Price Performance

The company has a 50 day simple moving average of $27.36.

WhiteFiber (NASDAQ:WYFI) last posted its quarterly earnings results on Thursday, November 13th. The company reported ($0.47) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.35). The company had revenue of $20.18 million for the quarter, compared to the consensus estimate of $21.18 million. WhiteFiber’s revenue for the quarter was up 64.2% on a year-over-year basis.

Institutional Investors Weigh In On WhiteFiber

A number of hedge funds have recently modified their holdings of the stock. Prelude Capital Management LLC purchased a new stake in WhiteFiber in the third quarter worth $258,000. J.W. Cole Advisors Inc. bought a new position in shares of WhiteFiber during the 3rd quarter worth $260,000. Militia Capital Partners LP purchased a new stake in WhiteFiber in the 3rd quarter worth about $326,000. Gladstone Institutional Advisory LLC bought a new stake in WhiteFiber in the 3rd quarter valued at about $349,000. Finally, Pentwater Capital Management LP purchased a new stake in WhiteFiber during the third quarter valued at about $353,000.

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”).