WhiteFiber (NASDAQ:WYFI) Trading Down 6.6% – Time to Sell?

WhiteFiber, Inc. (NASDAQ:WYFI) shares dropped 6.6% during mid-day trading on Tuesday . The company traded as low as $17.00 and last traded at $17.35. Approximately 120,174 shares changed hands during trading, a decline of 90% from the average daily volume of 1,208,161 shares. The stock had previously closed at $18.58.

Wall Street Analyst Weigh In

WYFI has been the subject of a number of research reports. UBS Group set a $51.00 price target on WhiteFiber in a research note on Monday, October 6th. Zacks Research raised shares of WhiteFiber to a “hold” rating in a research report on Wednesday, September 3rd. Wall Street Zen downgraded WhiteFiber from a “hold” rating to a “sell” rating in a research report on Friday, September 5th. Citigroup started coverage on WhiteFiber in a research report on Wednesday, November 19th. They set an “outperform” rating for the company. Finally, Macquarie lifted their price target on WhiteFiber from $28.00 to $32.00 and gave the company an “outperform” rating in a research report on Friday, September 26th. Eight research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.11.

WhiteFiber Price Performance

The business’s 50-day moving average is $28.18.

WhiteFiber (NASDAQ:WYFI) last posted its quarterly earnings results on Thursday, November 13th. The company reported ($0.47) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.35). The business had revenue of $20.18 million during the quarter, compared to the consensus estimate of $21.18 million. The company’s revenue for the quarter was up 64.2% on a year-over-year basis.

Institutional Trading of WhiteFiber

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Prelude Capital Management LLC acquired a new stake in shares of WhiteFiber in the 3rd quarter worth $258,000. J.W. Cole Advisors Inc. purchased a new position in shares of WhiteFiber in the third quarter valued at $260,000. Militia Capital Partners LP acquired a new position in WhiteFiber during the third quarter worth about $326,000. Gladstone Institutional Advisory LLC acquired a new stake in WhiteFiber during the 3rd quarter valued at $349,000. Finally, Pentwater Capital Management LP acquired a new stake in shares of WhiteFiber during the third quarter valued at $353,000.

About WhiteFiber

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”).