WhiteFiber (NASDAQ:WYFI) Trading Down 7.1% – Here’s What Happened

WhiteFiber, Inc. (NASDAQ:WYFI)’s stock price was down 7.1% on Friday . The company traded as low as $29.57 and last traded at $29.90. Approximately 482,905 shares were traded during trading, a decline of 58% from the average daily volume of 1,145,557 shares. The stock had previously closed at $32.18.

Analyst Ratings Changes

A number of equities analysts have weighed in on WYFI shares. Weiss Ratings reiterated a “sell (d)” rating on shares of WhiteFiber in a research report on Friday, March 27th. B. Riley Financial reaffirmed a “buy” rating on shares of WhiteFiber in a report on Monday, May 18th. HC Wainwright cut their price target on WhiteFiber from $34.00 to $20.00 and set a “buy” rating for the company in a report on Friday, March 27th. Needham & Company LLC raised their price target on WhiteFiber from $36.00 to $38.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Finally, Cantor Fitzgerald raised their price target on WhiteFiber from $13.00 to $27.00 and gave the stock a “neutral” rating in a report on Friday, May 15th. Ten research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, WhiteFiber presently has an average rating of “Moderate Buy” and an average target price of $34.00.

WhiteFiber Stock Down 7.6%

The company has a debt-to-equity ratio of 0.63, a quick ratio of 2.77 and a current ratio of 2.77. The firm has a market capitalization of $1.15 billion and a PE ratio of -20.51. The company’s 50 day simple moving average is $19.00 and its 200-day simple moving average is $18.49.

WhiteFiber (NASDAQ:WYFI) last posted its earnings results on Thursday, May 14th. The company reported ($0.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.07). The firm had revenue of $21.92 million during the quarter. WhiteFiber had a negative return on equity of 9.40% and a negative net margin of 45.24%.The business’s revenue was up 30.4% compared to the same quarter last year. On average, analysts forecast that WhiteFiber, Inc. will post -1.01 EPS for the current fiscal year.

Institutional Investors Weigh In On WhiteFiber

Several large investors have recently added to or reduced their stakes in WYFI. Situational Awareness LP bought a new stake in WhiteFiber during the fourth quarter valued at $27,770,000. Clearfield Capital Management LP boosted its stake in WhiteFiber by 426.6% during the fourth quarter. Clearfield Capital Management LP now owns 1,313,659 shares of the company’s stock valued at $20,756,000 after buying an additional 1,064,177 shares during the period. Monashee Investment Management LLC bought a new stake in WhiteFiber during the third quarter valued at $9,645,000. Marshall Wace LLP bought a new stake in WhiteFiber during the third quarter valued at approximately $9,105,000. Finally, Wasatch Advisors LP bought a new stake in WhiteFiber during the third quarter valued at approximately $8,382,000.

About WhiteFiber

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.