WhiteFiber (NASDAQ:WYFI) Trading Up 13.1% – Here’s What Happened

WhiteFiber, Inc. (NASDAQ:WYFI)’s share price traded up 13.1% during mid-day trading on Wednesday . The company traded as high as $20.95 and last traded at $20.84. 1,586,776 shares changed hands during trading, an increase of 126% from the average session volume of 700,708 shares. The stock had previously closed at $18.43.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on WYFI. Macquarie increased their price target on WhiteFiber from $28.00 to $32.00 and gave the stock an “outperform” rating in a research report on Friday, September 26th. UBS Group set a $51.00 price objective on shares of WhiteFiber in a report on Monday, October 6th. Citizens Jmp started coverage on shares of WhiteFiber in a research report on Wednesday, November 19th. They set a “market outperform” rating and a $37.00 target price for the company. HC Wainwright reissued a “buy” rating and issued a $34.00 price target on shares of WhiteFiber in a research note on Monday, December 22nd. Finally, Compass Point initiated coverage on WhiteFiber in a research note on Tuesday, December 16th. They set a “buy” rating and a $32.00 price objective for the company. Nine analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $36.30.

WhiteFiber Price Performance

The firm’s 50-day moving average is $18.99. The firm has a market cap of $798.10 million and a price-to-earnings ratio of -44.38.

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

Hedge Funds Weigh In On WhiteFiber

A number of large investors have recently added to or reduced their stakes in the company. Prelude Capital Management LLC acquired a new position in shares of WhiteFiber during the third quarter worth about $258,000. J.W. Cole Advisors Inc. bought a new stake in WhiteFiber in the 3rd quarter valued at approximately $260,000. Militia Capital Partners LP acquired a new position in WhiteFiber during the 3rd quarter worth approximately $326,000. Gladstone Institutional Advisory LLC bought a new position in shares of WhiteFiber during the 3rd quarter worth approximately $349,000. Finally, Pentwater Capital Management LP bought a new position in shares of WhiteFiber during the 3rd quarter worth approximately $353,000.

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.