WhiteFiber, Inc. (NASDAQ:WYFI – Get Free Report) dropped 7.5% on Wednesday. The company traded as low as $13.62 and last traded at $13.4430. 220,531 shares changed hands during trading, a decline of 87% from the average session volume of 1,682,466 shares. The stock had previously closed at $14.54.
Analyst Ratings Changes
A number of research firms recently commented on WYFI. Weiss Ratings cut shares of WhiteFiber from a “sell (d)” rating to a “sell (d-)” rating in a research report on Wednesday, August 12th. HC Wainwright reissued a “buy” rating and set a $37.00 price objective on shares of WhiteFiber in a report on Thursday, September 3rd. Barclays increased their price objective on WhiteFiber from $29.00 to $32.00 and gave the company an “equal weight” rating in a report on Friday, August 14th. Cantor Fitzgerald upgraded shares of WhiteFiber from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $27.00 to $36.00 in a report on Thursday, August 13th. Finally, BTIG Research reiterated a “buy” rating and issued a $50.00 price objective on shares of WhiteFiber in a research note on Wednesday, August 12th. Nine 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 company. According to MarketBeat, WhiteFiber currently has a consensus rating of “Moderate Buy” and an average target price of $38.00.
Get Our Latest Stock Analysis on WYFI
WhiteFiber Trading Down 9.9%
WhiteFiber (NASDAQ:WYFI – Get Free Report) last posted its quarterly earnings data on Wednesday, August 12th. The company reported ($0.39) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.01. The firm had revenue of $28.84 million for the quarter. WhiteFiber had a negative net margin of 46.87% and a negative return on equity of 10.72%. Analysts forecast that WhiteFiber, Inc. will post -1.05 EPS for the current year.
Hedge Funds Weigh In On WhiteFiber
Several institutional investors and hedge funds have recently bought and sold shares of WYFI. Integrated Wealth Concepts LLC bought a new stake in shares of WhiteFiber during the second quarter valued at approximately $36,000. Polaris Financial Partners bought a new stake in WhiteFiber during the third quarter worth approximately $27,000. CoreCap Advisors LLC bought a new position in shares of WhiteFiber in the second quarter valued at $235,000. Feynman Point Asset Management LLC raised its position in shares of WhiteFiber by 6.9% during the first quarter. Feynman Point Asset Management LLC now owns 169,900 shares of the company’s stock worth $2,024,000 after purchasing an additional 11,000 shares during the period. Finally, WINTON GROUP Ltd acquired a new position in shares of WhiteFiber in the 2nd quarter valued at $439,000.
About WhiteFiber
WhiteFiber, Inc (NASDAQ: WYFI) is a digital infrastructure company focused on providing data center and high-performance computing services. Its offerings are designed to support organizations that require scalable computing capacity, secure infrastructure and reliable network connectivity.
The company’s business activities include data center solutions, colocation, dedicated computing resources and cloud-related services. WhiteFiber also supports advanced workloads, including artificial intelligence and other applications that require substantial processing power and specialized infrastructure.
WhiteFiber serves business and technology customers through its digital infrastructure platform.
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