WhiteFiber (NASDAQ:WYFI) Shares Gap Down – What’s Next?

WhiteFiber, Inc. (NASDAQ:WYFI)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $20.86, but opened at $20.10. WhiteFiber shares last traded at $19.63, with a volume of 252,239 shares trading hands.

Analysts Set New Price Targets

WYFI has been the subject of a number of research reports. JMP Securities set a $37.00 price objective on WhiteFiber in a research note on Wednesday, November 19th. Compass Point assumed coverage on shares of WhiteFiber in a research report on Tuesday, December 16th. They issued a “buy” rating and a $32.00 price target for the company. Citizens Jmp started coverage on shares of WhiteFiber in a report on Wednesday, November 19th. They set a “market outperform” rating and a $37.00 price objective on the stock. B. Riley dropped their price objective on shares of WhiteFiber from $44.00 to $40.00 and set a “buy” rating on the stock in a research note on Wednesday, December 24th. Finally, UBS Group set a $51.00 target price on shares of WhiteFiber in a research report on Monday, October 6th. Nine equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, WhiteFiber presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.30.

WhiteFiber Price Performance

The firm’s fifty day moving average is $18.41. The firm has a market capitalization of $744.92 million and a P/E ratio of -41.43.

WhiteFiber (NASDAQ:WYFI) last announced its quarterly earnings data 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 analysts’ expectations of $21.18 million. The firm’s quarterly revenue was up 64.2% on a year-over-year basis.

Institutional Trading of WhiteFiber

Hedge funds have recently added to or reduced their stakes in the stock. Prelude Capital Management LLC purchased a new stake in shares of WhiteFiber during the 3rd quarter worth approximately $258,000. J.W. Cole Advisors Inc. bought a new position in WhiteFiber during the third quarter valued at $260,000. Militia Capital Partners LP purchased a new stake in WhiteFiber in the third quarter worth $326,000. Gladstone Institutional Advisory LLC purchased a new stake in WhiteFiber during the third quarter valued at about $349,000. Finally, Pentwater Capital Management LP bought a new position in WhiteFiber during the third quarter worth about $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”). Our Tier-3 data centers provide hosting and colocation services. Our cloud services support generative AI workstreams, especially training and inference.