WhiteFiber (NASDAQ:WYFI) Hits New 1-Year High – Time to Buy?

WhiteFiber, Inc. (NASDAQ:WYFI)’s stock price hit a new 52-week high during trading on Monday . The stock traded as high as $41.50 and last traded at $40.9940, with a volume of 218610 shares traded. The stock had previously closed at $38.49.

Wall Street Analyst Weigh In

Several research firms recently weighed in on WYFI. HC Wainwright dropped their price objective on WhiteFiber from $34.00 to $20.00 and set a “buy” rating for the company in a research note on Friday, March 27th. Barclays assumed coverage on WhiteFiber in a research note on Tuesday, June 9th. They set an “equal weight” rating and a $27.00 price target for the company. Cantor Fitzgerald boosted their price objective on shares of WhiteFiber from $13.00 to $27.00 and gave the stock a “neutral” rating in a research report on Friday, May 15th. B. Riley Financial reissued a “buy” rating on shares of WhiteFiber in a research note on Monday, May 18th. Finally, BTIG Research lifted their target price on shares of WhiteFiber from $20.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, May 14th. Ten equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $33.42.

WhiteFiber Trading Down 0.0%

The firm has a market cap of $1.73 billion and a price-to-earnings ratio of -30.87. The business has a 50 day moving average of $25.10 and a 200 day moving average of $19.80. The company has a quick ratio of 2.77, a current ratio of 2.77 and a debt-to-equity ratio of 0.63.

WhiteFiber (NASDAQ:WYFI) last announced its earnings results on Thursday, May 14th. The company reported ($0.31) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.07). WhiteFiber had a negative net margin of 45.24% and a negative return on equity of 9.40%. The firm had revenue of $21.92 million during the quarter. WhiteFiber’s quarterly revenue was up 30.4% on a year-over-year basis. On average, research analysts forecast that WhiteFiber, Inc. will post -1.01 earnings per share for the current fiscal year.

Hedge Funds Weigh In On WhiteFiber

Several institutional investors and hedge funds have recently modified their holdings of WYFI. Bank of America Corp DE grew its stake in WhiteFiber by 220.9% in the 1st quarter. Bank of America Corp DE now owns 60,113 shares of the company’s stock worth $716,000 after acquiring an additional 41,383 shares during the period. Feynman Point Asset Management LLC lifted its stake in shares of WhiteFiber by 6.9% during the 1st quarter. Feynman Point Asset Management LLC now owns 169,900 shares of the company’s stock worth $2,024,000 after purchasing an additional 11,000 shares during the period. Lazard Asset Management LLC boosted its holdings in shares of WhiteFiber by 16.6% during the first quarter. Lazard Asset Management LLC now owns 132,693 shares of the company’s stock worth $1,580,000 after purchasing an additional 18,928 shares during the last quarter. Sculptor Capital LP purchased a new stake in shares of WhiteFiber in the first quarter valued at $476,000. Finally, Galaxy Digital Inc. purchased a new stake in shares of WhiteFiber in the first quarter valued at $834,000.

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.