WhiteFiber (NASDAQ:WYFI) Trading Down 8.7% – Here’s Why

by · The Cerbat Gem

Shares of WhiteFiber, Inc. (NASDAQ:WYFI – Get Free Report) were down 8.7% on Monday . The stock traded as low as $19.50 and last traded at $19.56. Approximately 252,406 shares were traded during mid-day trading, a decline of 79% from the average daily volume of 1,202,068 shares. The stock had previously closed at $21.43.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on WYFI shares. Roth Capital dropped their price objective on WhiteFiber from $42.00 to $37.00 and set a “buy” rating on the stock in a research note on Friday, November 14th. JMP Securities set a $37.00 price objective on shares of WhiteFiber in a research report on Wednesday, November 19th. Citigroup began coverage on shares of WhiteFiber in a research note on Wednesday, November 19th. They issued an “outperform” rating for the company. UBS Group set a $51.00 target price on shares of WhiteFiber in a research note on Monday, October 6th. Finally, Zacks Research upgraded shares of WhiteFiber to a “hold” rating in a report on Wednesday, September 3rd. Eight 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. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $36.11.

Check Out Our Latest Stock Report on WYFI

WhiteFiber Stock Down 6.9%

The firm has a 50-day moving average of $27.96.

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

Hedge Funds Weigh In On WhiteFiber

A number of hedge funds have recently added to or reduced their stakes in the stock. Gladstone Institutional Advisory LLC purchased a new stake in shares of WhiteFiber in the third quarter worth approximately $349,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in WhiteFiber in the 3rd quarter valued at $1,167,000. Principal Financial Group Inc. bought a new position in WhiteFiber during the 3rd quarter valued at $1,534,000. J.W. Cole Advisors Inc. purchased a new position in WhiteFiber during the 3rd quarter worth $260,000. Finally, JPMorgan Chase & Co. bought a new stake in shares of WhiteFiber in the 3rd quarter worth $2,718,000.

WhiteFiber Company Profile

(Get Free Report)

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”).

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