BTIG Research Begins Coverage on WhiteFiber (NASDAQ:WYFI)

Key Points

• BTIG Research initiated coverage on WhiteFiber (NASDAQ:WYFI) with a Buy rating and a $20 price target, implying roughly a 47.3% upside from the stock's recent price (~$13.58).
• Analyst consensus is a Moderate Buy (10 Buys, 2 Holds, 1 Sell) with a consensus target of $31.18.
• WhiteFiber, which provides AI infrastructure and cloud GPU/HPC services, reported quarterly EPS of -$0.67 (missing estimates of -$0.14) while revenue of $23.56M slightly beat expectations.

BTIG Research began coverage on shares of WhiteFiber (NASDAQ:WYFI - Get Free Report) in a report issued on Friday,Benzinga reports. The firm set a "buy" rating and a $20.00 price target on the stock. BTIG Research's price target suggests a potential upside of 47.28% from the company's current price.

Several other equities analysts have also recently commented on the company. HC Wainwright reduced their target price on WhiteFiber from $34.00 to $20.00 and set a "buy" rating for the company in a research note on Friday, March 27th. B. Riley Financial cut their price target on shares of WhiteFiber from $44.00 to $40.00 and set a "buy" rating on the stock in a report on Wednesday, December 24th. Cantor Fitzgerald assumed coverage on shares of WhiteFiber in a research note on Thursday. They set a "neutral" rating and a $13.00 price objective on the stock. Needham & Company LLC decreased their price objective on shares of WhiteFiber from $38.00 to $36.00 and set a "buy" rating for the company in a report on Friday, March 27th. Finally, Compass Point initiated coverage on shares of WhiteFiber in a research note on Tuesday, December 16th. They issued a "buy" rating and a $32.00 target price on the stock. Ten research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $31.18.

WhiteFiber Stock Performance

Shares of NASDAQ WYFI opened at $13.58 on Friday. WhiteFiber has a 1 year low of $10.51 and a 1 year high of $40.75. The stock's 50-day simple moving average is $15.88 and its 200-day simple moving average is $20.82. The firm has a market cap of $521.06 million and a price-to-earnings ratio of -11.91.

WhiteFiber (NASDAQ:WYFI - Get Free Report) last issued its quarterly earnings data on Thursday, March 26th. The company reported ($0.67) earnings per share for the quarter, missing analysts' consensus estimates of ($0.14) by ($0.53). The business had revenue of $23.56 million during the quarter, compared to analysts' expectations of $23.07 million.

Hedge Funds Weigh In On WhiteFiber

Several large investors have recently added to or reduced their stakes in WYFI. Royal Bank of Canada increased its stake in WhiteFiber by 108.2% during the fourth quarter. Royal Bank of Canada now owns 2,394 shares of the company's stock valued at $37,000 after purchasing an additional 1,244 shares during the last quarter. Strs Ohio bought a new position in shares of WhiteFiber in the 4th quarter worth about $30,000. Shikiar Asset Management Inc. boosted its holdings in shares of WhiteFiber by 4.9% in the 4th quarter. Shikiar Asset Management Inc. now owns 48,790 shares of the company's stock valued at $771,000 after buying an additional 2,290 shares during the period. Russell Investments Group Ltd. grew its position in shares of WhiteFiber by 5.3% during the 4th quarter. Russell Investments Group Ltd. now owns 49,513 shares of the company's stock valued at $782,000 after buying an additional 2,477 shares during the last quarter. Finally, Police & Firemen s Retirement System of New Jersey acquired a new stake in WhiteFiber during the fourth quarter worth about $44,000.

WhiteFiber Company Profile

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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