WhiteFiber (NASDAQ:WYFI) Stock Falls 7.5% – Here’s What Happened

Shares of WhiteFiber, Inc. (NASDAQ:WYFI) dropped 7.5% during mid-day trading on Wednesday. The company traded as low as $13.62 and last traded at $13.4430. 220,531 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 1,682,466 shares. The stock had previously closed at $14.54.

Analyst Ratings Changes

A number of analysts have weighed in on WYFI shares. BTIG Research reaffirmed a “buy” rating and issued a $50.00 price target on shares of WhiteFiber in a research report on Wednesday, August 12th. Needham & Company LLC boosted their price objective on WhiteFiber from $38.00 to $41.00 and gave the stock a “buy” rating in a research report on Thursday, August 13th. HC Wainwright reissued a “buy” rating and issued a $37.00 price objective on shares of WhiteFiber in a research report on Thursday, September 3rd. Barclays upped their target price on shares of WhiteFiber from $29.00 to $32.00 and gave the company an “equal weight” rating in a research note on Friday, August 14th. Finally, Cantor Fitzgerald raised WhiteFiber from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $27.00 to $36.00 in a research report on Thursday, August 13th. Nine analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $38.00.

WhiteFiber Trading Down 9.9%

The company has a debt-to-equity ratio of 0.74, a current ratio of 0.79 and a quick ratio of 0.79. The business’s 50 day simple moving average is $20.17 and its 200-day simple moving average is $23.46. The stock has a market capitalization of $508.74 million, a P/E ratio of -7.11 and a beta of 6.32.

WhiteFiber (NASDAQ:WYFI) last released its quarterly earnings data on Wednesday, August 12th. The company reported ($0.39) EPS for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.01. The business had revenue of $28.84 million during the quarter. WhiteFiber had a negative return on equity of 10.72% and a negative net margin of 46.87%. As a group, analysts forecast that WhiteFiber, Inc. will post -1.05 EPS for the current year.

Institutional Investors Weigh In On WhiteFiber

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Galaxy Digital Inc. bought a new position in shares of WhiteFiber in the first quarter valued at about $834,000. Tidal Investments LLC raised its position in shares of WhiteFiber by 115.9% in the 2nd quarter. Tidal Investments LLC now owns 125,510 shares of the company’s stock valued at $4,876,000 after buying an additional 67,379 shares in the last quarter. Buffalo Business & Estate Services Ltd. acquired a new position in shares of WhiteFiber during the 1st quarter worth $602,000. Sei Investments Co. increased its position in WhiteFiber by 196.0% during the 1st quarter. Sei Investments Co. now owns 72,138 shares of the company’s stock worth $859,000 after purchasing an additional 47,770 shares in the last quarter. Finally, Bank of America Corp DE grew its position in WhiteFiber by 220.9% during 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 last quarter.

About WhiteFiber

WhiteFiber, Inc (NASDAQ: WYFI) is a digital infrastructure company focused on providing data center and high-performance computing services. Its offerings are designed to support organizations that require scalable computing capacity, secure infrastructure and reliable network connectivity.

The company’s business activities include data center solutions, colocation, dedicated computing resources and cloud-related services. WhiteFiber also supports advanced workloads, including artificial intelligence and other applications that require substantial processing power and specialized infrastructure.

WhiteFiber serves business and technology customers through its digital infrastructure platform.