WhiteFiber (NASDAQ:WYFI) Stock Jumps 8.4% – Here’s Why

by · The Markets Daily

Shares of WhiteFiber, Inc. (NASDAQ:WYFI – Get Free Report) rose 8.4% during trading on Friday. The stock traded as high as $18.83 and last traded at $18.9560. 365,225 shares changed hands during mid-day trading, a decline of 78% from the average daily volume of 1,696,509 shares. The stock had previously closed at $17.48.

Analyst Ratings Changes

Several research analysts have recently weighed in on WYFI shares. Needham & Company LLC increased their price target on WhiteFiber from $38.00 to $41.00 and gave the stock a “buy” rating in a research note on Thursday, August 13th. Weiss Ratings lowered shares of WhiteFiber from a “sell (d)” rating to a “sell (d-)” rating in a research report on Wednesday, August 12th. Cantor Fitzgerald upgraded 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 note on Thursday, August 13th. HC Wainwright reiterated a “buy” rating and issued a $37.00 price target on shares of WhiteFiber in a research report on Thursday, September 3rd. Finally, BTIG Research reissued a “buy” rating and issued a $50.00 price target on shares of WhiteFiber in a report on Wednesday, August 12th. Nine equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $39.30.

View Our Latest Stock Analysis on WhiteFiber

WhiteFiber Stock Performance

The stock has a market capitalization of $706.68 million, a PE ratio of -9.86 and a beta of 6.31. The business has a 50 day moving average price of $21.43 and a 200 day moving average price of $23.37. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.79 and a quick ratio of 0.79.

WhiteFiber (NASDAQ:WYFI – Get Free Report) last issued its earnings results on Wednesday, August 12th. The company reported ($0.39) earnings per share (EPS) for the quarter, topping the consensus estimate 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%. As a group, equities research analysts expect that WhiteFiber, Inc. will post -1.05 earnings per share for the current year.

Hedge Funds Weigh In On WhiteFiber

Institutional investors and hedge funds have recently modified their holdings of the company. Situational Awareness LP purchased a new stake in WhiteFiber during the 4th quarter valued at approximately $27,770,000. CenterBook Partners LP purchased a new stake in WhiteFiber during the fourth quarter valued at approximately $3,873,000. Galaxy Digital Inc. purchased a new position in WhiteFiber during the first quarter worth $834,000. Tidal Investments LLC boosted its position in shares of WhiteFiber by 115.9% during the second quarter. Tidal Investments LLC now owns 125,510 shares of the company’s stock valued at $4,876,000 after buying an additional 67,379 shares during the period. Finally, Buffalo Business & Estate Services Ltd. bought a new stake in shares of WhiteFiber during the first quarter worth $602,000.

About WhiteFiber

(Get Free Report)

WhiteFiber, Inc (NASDAQ: WYFI) is a digital infrastructure company focused on providing data center and high-performance computing services. Its platform is designed to support demanding workloads, including artificial intelligence, machine learning, scientific computing and other data-intensive applications.

The company’s services include dedicated computing infrastructure, GPU-based computing, cloud and bare-metal solutions, data center capacity and related managed services. These offerings are intended for organizations that require scalable computing power, secure facilities and reliable connectivity without building and operating all of the necessary infrastructure themselves.

WhiteFiber serves enterprise, technology and specialized computing customers through data center operations and infrastructure located in North America.

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