WhiteFiber, Inc. (NASDAQ:WYFI – Get Free Report) shares gapped down before the market opened on Wednesday . The stock had previously closed at $27.07, but opened at $22.13. WhiteFiber shares last traded at $19.9590, with a volume of 3,066,350 shares.
WhiteFiber News Roundup
Here are the key news stories impacting WhiteFiber this week:
- Positive Sentiment: WhiteFiber was named the exclusive operator for Krambu’s planned 100-megawatt GPU data-center buildout, potentially adding significant future demand for its AI and high-performance-computing infrastructure. WhiteFiber named exclusive operator for Krambu’s planned 100MW GPU buildout
- Positive Sentiment: The company agreed to acquire two North Carolina data-center sites for $60 million, supporting its strategy to expand computing capacity and infrastructure assets. WhiteFiber agrees to buy two North Carolina data-center sites for $60 million
- Positive Sentiment: Trading in WhiteFiber call options increased approximately 183% above typical volume, indicating heightened speculative interest and potentially bullish positioning, although options activity does not guarantee future gains.
- Neutral Sentiment: Analyst views on WhiteFiber remain mixed, suggesting uncertainty about the company’s valuation, growth outlook, and financing needs. Analysts Have Conflicting Sentiments on These Technology Companies
- Negative Sentiment: WhiteFiber priced an upsized $270 million offering of 5.00% convertible senior notes due 2032, increased from the previously proposed $250 million. The financing provides capital for growth but raises interest obligations and the risk of future shareholder dilution if the notes convert. WhiteFiber Announces Pricing of Upsized $270.0 Million Convertible Senior Notes Offering
Wall Street Analysts Forecast Growth
A number of brokerages have commented on WYFI. Cantor Fitzgerald raised shares of WhiteFiber from a “neutral” rating to an “overweight” rating and upped their price target for the company from $27.00 to $36.00 in a research report on Thursday, August 13th. BTIG Research reissued a “buy” rating and issued a $50.00 price objective on shares of WhiteFiber in a research note on Wednesday, August 12th. Barclays upped their target price on WhiteFiber from $29.00 to $32.00 and gave the company an “equal weight” rating in a research report on Friday, August 14th. Weiss Ratings lowered WhiteFiber from a “sell (d)” rating to a “sell (d-)” rating in a research note on Wednesday, August 12th. Finally, Needham & Company LLC upped their price objective on shares of WhiteFiber from $38.00 to $41.00 and gave the company a “buy” rating in a report on Thursday, August 13th. Eleven equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, WhiteFiber currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.08.
WhiteFiber Price Performance
The stock has a market capitalization of $805.24 million and a P/E ratio of -11.27. The business’s 50 day simple moving average is $30.49 and its two-hundred day simple moving average is $23.05. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.74.
WhiteFiber (NASDAQ:WYFI – Get Free Report) last posted its earnings results on Wednesday, August 12th. The company reported ($0.39) earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter. As a group, sell-side analysts forecast that WhiteFiber, Inc. will post -0.97 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Several hedge funds have recently modified their holdings of WYFI. Strs Ohio bought a new position in WhiteFiber during the 4th quarter valued at $30,000. Royal Bank of Canada lifted its position in shares of WhiteFiber by 108.2% during the 4th quarter. Royal Bank of Canada now owns 2,394 shares of the company’s stock worth $37,000 after buying an additional 1,244 shares in the last quarter. Police & Firemen s Retirement System of New Jersey bought a new position in shares of WhiteFiber during the 4th quarter worth approximately $44,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of WhiteFiber in the 4th quarter worth approximately $55,000. Finally, MetLife Investment Management LLC purchased a new position in shares of WhiteFiber in the 4th 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.
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