WhiteFiber (NASDAQ:WYFI) Sees Strong Trading Volume – What’s Next?

Shares of WhiteFiber, Inc. (NASDAQ:WYFI) saw an uptick in trading volume on Tuesday . 1,507,187 shares changed hands during mid-day trading, an increase of 3% from the previous session’s volume of 1,464,745 shares.The stock last traded at $33.4350 and had previously closed at $36.29.

Analyst Ratings Changes

A number of brokerages have issued reports on WYFI. Barclays started coverage on WhiteFiber in a research note on Tuesday, June 9th. They set an “equal weight” rating and a $27.00 price objective for the company. Weiss Ratings reiterated a “sell (d)” rating on shares of WhiteFiber in a research note on Wednesday, June 24th. B. Riley Financial reissued a “buy” rating on shares of WhiteFiber in a research report on Monday, May 18th. Cantor Fitzgerald lifted their target price on shares of WhiteFiber from $13.00 to $27.00 and gave the stock a “neutral” rating in a report on Friday, May 15th. Finally, Needham & Company LLC increased their price target on shares of WhiteFiber from $36.00 to $38.00 and gave the company a “buy” rating in a report on Friday, May 15th. Ten equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $34.67.

WhiteFiber Price Performance

The firm has a fifty day moving average of $30.71 and a 200 day moving average of $21.62. The company has a current ratio of 2.77, a quick ratio of 2.77 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $1.22 billion and a P/E ratio of -21.91.

WhiteFiber (NASDAQ:WYFI) last posted its earnings results on Thursday, May 14th. The company reported ($0.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.07). The company had revenue of $21.92 million for the quarter. WhiteFiber had a negative net margin of 45.24% and a negative return on equity of 9.40%. The company’s revenue was up 30.4% on a year-over-year basis. On average, equities research analysts anticipate that WhiteFiber, Inc. will post -1.26 EPS for the current year.

Institutional Investors Weigh In On WhiteFiber

Hedge funds have recently added to or reduced their stakes in the stock. Strs Ohio bought a new position in shares of WhiteFiber during the 4th quarter valued at $30,000. Royal Bank of Canada increased its position in WhiteFiber by 108.2% during the fourth quarter. Royal Bank of Canada now owns 2,394 shares of the company’s stock valued at $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 fourth quarter valued at about $44,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in WhiteFiber in the fourth quarter valued at about $55,000. Finally, MetLife Investment Management LLC purchased a new position in WhiteFiber in the fourth quarter worth about $106,000.

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.