HC Wainwright Reiterates Buy Rating for WhiteFiber (NASDAQ:WYFI)

Key Points

• HC Wainwright reiterated its Buy rating on WhiteFiber and maintained a $37 price target, implying 113.75% upside from the prior close.
• Analyst sentiment is broadly positive: 10 analysts rate the stock Buy, one rates it Hold and one Sell, producing a “Moderate Buy” consensus with an average price target of $38.64.
• WhiteFiber reported quarterly revenue of $28.84 million and an EPS loss of $0.39, slightly better than estimates, while shares opened at $17.31 and remain well below their 52-week high of $46.87.

WhiteFiber (NASDAQ:WYFI - Get Free Report)'s stock had its "buy" rating restated by stock analysts at HC Wainwright in a report released on Thursday, Benzinga reports. They currently have a $37.00 price target on the stock. HC Wainwright's price target would suggest a potential upside of 113.75% from the stock's previous close.

Other research analysts have also recently issued reports about the company. Cantor Fitzgerald raised WhiteFiber from a "neutral" rating to an "overweight" rating and boosted their target price for the company from $27.00 to $36.00 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 note on Wednesday, August 12th. B. Riley Financial reissued a "buy" rating on shares of WhiteFiber in a research note on Monday, May 18th. BTIG Research reaffirmed a "buy" rating and issued a $50.00 price objective on shares of WhiteFiber in a research report on Wednesday, August 12th. Finally, Barclays lifted their price objective on shares of WhiteFiber from $29.00 to $32.00 and gave the stock an "equal weight" rating in a research report on Friday, August 14th. Ten equities 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.com, WhiteFiber currently has an average rating of "Moderate Buy" and an average price target of $38.64.

WhiteFiber Stock Down 1.1%

Shares of NASDAQ:WYFI opened at $17.31 on Thursday. The company has a 50 day moving average of $27.27 and a 200-day moving average of $23.12. 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 has a one year low of $10.51 and a one year high of $46.87. The stock has a market cap of $672.49 million and a price-to-earnings ratio of -9.41.

WhiteFiber (NASDAQ:WYFI - Get Free Report) last posted its quarterly 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. WhiteFiber had a negative return on equity of 10.72% and a negative net margin of 46.87%.The business had revenue of $28.84 million for the quarter. On average, sell-side analysts forecast that WhiteFiber will post -0.97 earnings per share for the current year.

Institutional Investors Weigh In On WhiteFiber

A number of large investors have recently added to or reduced their stakes in WYFI. Round Rock Advisors LLC lifted its position in shares of WhiteFiber by 146.6% during the 2nd quarter. Round Rock Advisors LLC now owns 45,386 shares of the company's stock valued at $1,763,000 after acquiring an additional 26,981 shares during the period. CoreCap Advisors LLC acquired a new stake in WhiteFiber during the second quarter worth about $235,000. Bank of America Corp DE increased its holdings in WhiteFiber by 220.9% in the 1st quarter. Bank of America Corp DE now owns 60,113 shares of the company's stock valued at $716,000 after buying an additional 41,383 shares during the period. Feynman Point Asset Management LLC lifted its holdings in shares of WhiteFiber by 6.9% during the 1st quarter. Feynman Point Asset Management LLC now owns 169,900 shares of the company's stock worth $2,024,000 after acquiring an additional 11,000 shares during the period. Finally, Lazard Asset Management LLC increased its stake in WhiteFiber by 16.6% in the first quarter. Lazard Asset Management LLC now owns 132,693 shares of the company's stock valued at $1,580,000 after acquiring an additional 18,928 shares during the last quarter.

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.

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