Ichi Shih Sells 7,059 Shares of WhiteFiber (NASDAQ:WYFI) Stock

Key Points

• Director Ichi Shih sold 7,059 WhiteFiber shares at an average price of $30.12, generating $212,617.08 and reducing their direct stake by 60.25% to 4,657 shares.
• WhiteFiber shares recently traded at $17.50, well below the insider-sale price, with a market capitalization of approximately $679.9 million and a 12-month range of $10.51 to $46.87.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $36.08 price target, although the company remains unprofitable and reported quarterly revenue of $28.84 million.

WhiteFiber, Inc. (NASDAQ:WYFI - Get Free Report) Director Ichi Shih sold 7,059 shares of the company's stock in a transaction on Friday, May 29th. The stock was sold at an average price of $30.12, for a total transaction of $212,617.08. Following the completion of the transaction, the director directly owned 4,657 shares of the company's stock, valued at $140,268.84. This represents a 60.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

WhiteFiber Price Performance

NASDAQ:WYFI traded down $1.42 on Tuesday, reaching $17.50. 2,074,929 shares of the company's stock traded hands, compared to its average volume of 1,749,261. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.74. The stock has a 50-day simple moving average of $28.24 and a 200-day simple moving average of $23.14. The firm has a market cap of $679.88 million and a PE ratio of -9.51. WhiteFiber, Inc. has a 12 month low of $10.51 and a 12 month high of $46.87.

WhiteFiber (NASDAQ:WYFI - Get Free Report) last released its quarterly earnings data on Wednesday, August 12th. The company reported ($0.39) earnings per share for the quarter, topping analysts' consensus estimates 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 firm had revenue of $28.84 million during the quarter. Equities research analysts forecast that WhiteFiber, Inc. will post -0.97 earnings per share for the current year.

Wall Street Analysts Forecast Growth

WYFI has been the subject of a number of research analyst reports. B. Riley Financial reaffirmed a "buy" rating on shares of WhiteFiber in a report on Monday, May 18th. Needham & Company LLC boosted their target price on shares of WhiteFiber from $38.00 to $41.00 and gave the stock a "buy" rating in a report on Thursday, August 13th. BTIG Research restated a "buy" rating and set a $50.00 target price on shares of WhiteFiber in a research report on Wednesday, August 12th. Cantor Fitzgerald raised shares of WhiteFiber from a "neutral" rating to an "overweight" rating and raised their target price for the company from $27.00 to $36.00 in a research note on Thursday, August 13th. Finally, Barclays lifted their price target on shares of WhiteFiber from $29.00 to $32.00 and gave the company an "equal weight" rating in a report on Friday, August 14th. Eleven investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, WhiteFiber has a consensus rating of "Moderate Buy" and a consensus price target of $36.08.

Institutional Trading of WhiteFiber

Large investors have recently added to or reduced their stakes in the company. Strs Ohio purchased a new stake in shares of WhiteFiber during the 4th quarter worth approximately $30,000. Royal Bank of Canada grew its holdings in shares of WhiteFiber by 108.2% in 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 in the last quarter. Police & Firemen s Retirement System of New Jersey bought a new stake in WhiteFiber in the fourth quarter worth $44,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in WhiteFiber in the fourth quarter worth $55,000. Finally, CoreCap Advisors LLC purchased a new stake in WhiteFiber during the second quarter valued at $235,000.

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.

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