WhiteFiber (NASDAQ:WYFI) Shares Gap Down – Here’s What Happened

WhiteFiber, Inc. (NASDAQ:WYFI)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $20.86, but opened at $20.10. WhiteFiber shares last traded at $19.63, with a volume of 252,239 shares traded.

Analysts Set New Price Targets

WYFI has been the subject of several analyst reports. Roth Capital cut their target price on WhiteFiber from $42.00 to $37.00 and set a “buy” rating for the company in a research report on Friday, November 14th. UBS Group set a $51.00 target price on WhiteFiber in a research note on Monday, October 6th. HC Wainwright reaffirmed a “buy” rating and set a $34.00 price target on shares of WhiteFiber in a research note on Monday, December 22nd. Compass Point assumed coverage on WhiteFiber in a research report on Tuesday, December 16th. They issued a “buy” rating and a $32.00 price objective for the company. Finally, Citigroup began coverage on shares of WhiteFiber in a research report on Wednesday, November 19th. They set an “outperform” rating on the stock. Nine investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.30.

WhiteFiber Trading Down 7.7%

The company has a fifty day moving average of $18.79. The stock has a market cap of $736.89 million and a P/E ratio of -40.98.

WhiteFiber (NASDAQ:WYFI) last released its quarterly earnings results on Thursday, November 13th. The company reported ($0.47) EPS 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 analyst estimates of $21.18 million. The business’s quarterly revenue was up 64.2% compared to the same quarter last year.

Hedge Funds Weigh In On WhiteFiber

Several large investors have recently bought and sold shares of the company. Prelude Capital Management LLC acquired a new position in shares of WhiteFiber during the third quarter worth $258,000. J.W. Cole Advisors Inc. bought a new position in WhiteFiber during the 3rd quarter worth $260,000. Militia Capital Partners LP acquired a new position in WhiteFiber during the 3rd quarter worth about $326,000. Gladstone Institutional Advisory LLC bought a new stake in shares of WhiteFiber in the 3rd quarter valued at about $349,000. Finally, Pentwater Capital Management LP acquired a new stake in shares of WhiteFiber in 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”). Our Tier-3 data centers provide hosting and colocation services. Our cloud services support generative AI workstreams, especially training and inference.