WhiteFiber, Inc. (NASDAQ:WYFI) Short Interest Up 23.6% in March

WhiteFiber, Inc. (NASDAQ:WYFI) was the recipient of a large increase in short interest during the month of March. As of March 31st, there was short interest totaling 2,359,802 shares, an increase of 23.6% from the March 15th total of 1,909,165 shares. Currently, 6.2% of the company’s shares are sold short. Based on an average daily trading volume, of 987,609 shares, the days-to-cover ratio is presently 2.4 days.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Strs Ohio purchased a new position in WhiteFiber during the fourth quarter valued at $30,000. Royal Bank of Canada raised its stake 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 buying an additional 1,244 shares during the last quarter. Police & Firemen s Retirement System of New Jersey purchased a new position in WhiteFiber during the fourth quarter valued at $44,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in WhiteFiber during the fourth quarter valued at $55,000. Finally, MetLife Investment Management LLC purchased a new position in WhiteFiber during the fourth quarter valued at $106,000.

Wall Street Analyst Weigh In

WYFI has been the topic of several research reports. Needham & Company LLC dropped their price target on WhiteFiber from $38.00 to $36.00 and set a “buy” rating on the stock in a research report on Friday, March 27th. Weiss Ratings restated a “sell (d)” rating on shares of WhiteFiber in a research report on Friday, March 27th. B. Riley Financial dropped their price target on WhiteFiber from $44.00 to $40.00 and set a “buy” rating on the stock in a research report on Wednesday, December 24th. Cantor Fitzgerald initiated coverage on WhiteFiber in a research report on Thursday, April 9th. They set a “neutral” rating and a $13.00 price target on the stock. Finally, BTIG Research initiated coverage on WhiteFiber in a research report on Friday, April 10th. They set a “buy” rating and a $20.00 price target on the stock. Ten investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, WhiteFiber has an average rating of “Moderate Buy” and a consensus target price of $31.18.

WhiteFiber Stock Up 0.1%

NASDAQ WYFI opened at $16.01 on Friday. WhiteFiber has a twelve month low of $10.51 and a twelve month high of $40.75. The firm has a market capitalization of $614.30 million and a PE ratio of -14.04. The stock’s 50 day moving average is $15.68 and its 200 day moving average is $20.46.

WhiteFiber (NASDAQ:WYFI) last announced its quarterly earnings data on Thursday, March 26th. The company reported ($0.67) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.53). The business had revenue of $23.56 million during the quarter, compared to analyst estimates of $23.07 million.

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.