WhiteFiber (NASDAQ:WYFI) Receives “Buy” Rating from HC Wainwright

WhiteFiber (NASDAQ:WYFI)‘s stock had its “buy” rating reiterated by analysts at HC Wainwright in a research note issued on Thursday, Benzinga reports. They currently have a $37.00 price objective on the stock. HC Wainwright’s price target would indicate a potential upside of 113.75% from the company’s current price.

Several other equities analysts have also recently issued reports on WYFI. BTIG Research restated 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 lifted their target price on WhiteFiber from $38.00 to $41.00 and gave the stock a “buy” rating in a report on Thursday, August 13th. Weiss Ratings cut shares of WhiteFiber from a “sell (d)” rating to a “sell (d-)” rating in a research report on Wednesday, August 12th. Cantor Fitzgerald upgraded shares of WhiteFiber from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $27.00 to $36.00 in a research note on Thursday, August 13th. Finally, Barclays increased their price objective on WhiteFiber from $29.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Friday, August 14th. Ten equities research 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. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $38.64.

WhiteFiber Stock Performance

Shares of WhiteFiber stock opened at $17.31 on Thursday. The company’s 50 day moving average price is $27.27 and its two-hundred day moving average price is $23.12. The firm has a market capitalization of $672.49 million and a P/E ratio of -9.41. WhiteFiber has a fifty-two week low of $10.51 and a fifty-two week high of $46.87. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.79 and a quick ratio of 0.79.

WhiteFiber (NASDAQ:WYFI) last announced its quarterly earnings results on Wednesday, August 12th. The company reported ($0.39) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.40) by $0.01. WhiteFiber had a negative net margin of 46.87% and a negative return on equity of 10.72%. The company had revenue of $28.84 million during the quarter. On average, equities analysts forecast that WhiteFiber will post -0.97 earnings per share for the current fiscal year.

Hedge Funds Weigh In On WhiteFiber

A number of institutional investors have recently made changes to their positions in the stock. Strs Ohio purchased a new position in WhiteFiber in the fourth quarter worth $30,000. Royal Bank of Canada raised its stake in shares of WhiteFiber by 108.2% during the fourth quarter. Royal Bank of Canada now owns 2,394 shares of the company’s stock worth $37,000 after acquiring an additional 1,244 shares in the last quarter. Police & Firemen s Retirement System of New Jersey purchased a new position in WhiteFiber in the 4th quarter worth $44,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of WhiteFiber in the fourth quarter worth about $55,000. Finally, MetLife Investment Management LLC bought a new position in shares of WhiteFiber in the fourth quarter worth approximately $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.