WhiteFiber (NASDAQ:WYFI) Trading Up 4.9% – Here’s What Happened

Shares of WhiteFiber, Inc. (NASDAQ:WYFI) were up 4.9% on Wednesday . The company traded as high as $17.53 and last traded at $17.6470. Approximately 127,036 shares were traded during trading, a decline of 93% from the average session volume of 1,727,805 shares. The stock had previously closed at $16.82.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on WYFI shares. Barclays upped their target price on WhiteFiber from $29.00 to $32.00 and gave the stock an “equal weight” rating in a report on Friday, August 14th. Needham & Company LLC boosted their price target on WhiteFiber from $38.00 to $41.00 and gave the stock a “buy” rating in a report on Thursday, August 13th. BTIG Research reaffirmed a “buy” rating and issued a $50.00 price objective on shares of WhiteFiber in a research note on Wednesday, August 12th. Weiss Ratings lowered shares of WhiteFiber from a “sell (d)” rating to a “sell (d-)” rating in a report on Wednesday, August 12th. Finally, Cantor Fitzgerald upgraded shares of 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. Ten investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, WhiteFiber currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.64.

WhiteFiber Stock Up 3.5%

The firm has a market capitalization of $693.86 million and a price-to-earnings ratio of -9.71. 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 stock has a fifty day moving average of $23.53 and a two-hundred day moving average of $23.17.

WhiteFiber (NASDAQ:WYFI) last announced its earnings results on Wednesday, August 12th. The company reported ($0.39) EPS for the quarter, topping the consensus estimate of ($0.40) by $0.01. The firm had revenue of $28.84 million for the quarter. WhiteFiber had a negative return on equity of 10.72% and a negative net margin of 46.87%. Sell-side analysts anticipate that WhiteFiber, Inc. will post -1.05 earnings per share for the current year.

Institutional Trading of WhiteFiber

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC acquired a new position in shares of WhiteFiber in the 2nd quarter worth approximately $36,000. CoreCap Advisors LLC acquired a new stake in shares of WhiteFiber during the second quarter worth $235,000. WINTON GROUP Ltd acquired a new stake in shares of WhiteFiber during the second quarter worth $439,000. Cetera Investment Advisers bought a new position in WhiteFiber during the first quarter worth $203,000. Finally, Penn Capital Management Company LLC raised its stake in WhiteFiber by 33.3% during the fourth quarter. Penn Capital Management Company LLC now owns 26,804 shares of the company’s stock worth $424,000 after buying an additional 6,703 shares during the last quarter.

WhiteFiber Company Profile

WhiteFiber, Inc (NASDAQ: WYFI) is a digital infrastructure company focused on providing data center and high-performance computing services. Its platform is designed to support demanding workloads, including artificial intelligence, machine learning, scientific computing and other data-intensive applications.

The company’s services include dedicated computing infrastructure, GPU-based computing, cloud and bare-metal solutions, data center capacity and related managed services. These offerings are intended for organizations that require scalable computing power, secure facilities and reliable connectivity without building and operating all of the necessary infrastructure themselves.

WhiteFiber serves enterprise, technology and specialized computing customers through data center operations and infrastructure located in North America.