WhiteFiber (NASDAQ:WYFI) Stock Price Down 6.5% – Time to Sell?

by · The Markets Daily

WhiteFiber, Inc. (NASDAQ:WYFI – Get Free Report) traded down 6.5% during mid-day trading on Wednesday . The company traded as low as $18.43 and last traded at $18.67. 180,302 shares changed hands during trading, a decline of 85% from the average session volume of 1,170,478 shares. The stock had previously closed at $19.96.

Analyst Ratings Changes

WYFI has been the topic of a number of recent analyst reports. HC Wainwright began coverage on WhiteFiber in a report on Wednesday, October 1st. They issued a “buy” rating and a $34.00 price objective on the stock. B. Riley reaffirmed a “buy” rating on shares of WhiteFiber in a research note on Wednesday, October 22nd. Weiss Ratings reissued a “sell (d)” rating on shares of WhiteFiber in a research report on Monday. Citigroup initiated coverage on WhiteFiber in a research report on Wednesday, November 19th. They issued an “outperform” rating on the stock. Finally, Wall Street Zen cut shares of WhiteFiber from a “hold” rating to a “sell” rating in a research report on Friday, September 5th. Eight investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, WhiteFiber currently has an average rating of “Moderate Buy” and an average target price of $36.11.

Get Our Latest Analysis on WYFI

WhiteFiber Trading Down 6.8%

The firm’s fifty day simple moving average is $27.06.

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

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in WYFI. Penn Capital Management Company LLC purchased a new stake in WhiteFiber in the third quarter valued at approximately $546,000. Advisory Services Network LLC acquired a new stake in WhiteFiber during the 3rd quarter worth $759,000. Woodline Partners LP purchased a new position in WhiteFiber during the 3rd quarter worth $2,717,000. Wasatch Advisors LP acquired a new position in WhiteFiber in the third quarter valued at $8,382,000. Finally, Wexford Capital LP purchased a new position in shares of WhiteFiber during the third quarter worth about $1,335,000.

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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