WhiteFiber (NASDAQ:WYFI) Shares Down 5.6% - Here's What Happened

Key Points

• WhiteFiber shares fell 5.6% to about $17.00, with trading volume down 65% from the average daily level.
• Analysts remain broadly optimistic, with a consensus “Moderate Buy” rating and an average price target of $39.30; recent targets range from $36 to $50.
• The company reported quarterly revenue of $28.84 million and an EPS loss of $0.39, slightly better than expectations, but continued to post a negative net margin and return on equity.

WhiteFiber, Inc. (NASDAQ:WYFI - Get Free Report) fell 5.6% during trading on Thursday. The stock traded as low as $16.88 and last traded at $17.0020. Approximately 590,579 shares were traded during trading, a decline of 65% from the average daily volume of 1,697,915 shares. The stock had previously closed at $18.01.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Needham & Company LLC upped their price objective on WhiteFiber from $38.00 to $41.00 and gave the company a "buy" rating in a research report on Thursday, August 13th. Cantor Fitzgerald upgraded WhiteFiber from a "neutral" rating to an "overweight" rating and upped their target price for the stock from $27.00 to $36.00 in a report on Thursday, August 13th. Weiss Ratings cut shares of WhiteFiber from a "sell (d)" rating to a "sell (d-)" rating in a report on Wednesday, August 12th. BTIG Research reaffirmed a "buy" rating and set a $50.00 target price on shares of WhiteFiber in a research report on Wednesday, August 12th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $37.00 price target on shares of WhiteFiber in a report on Thursday, September 3rd. Nine equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $39.30.

WhiteFiber Stock Down 2.2%

The business's fifty day simple moving average is $21.62 and its two-hundred day simple moving average is $23.36. The company has a market cap of $684.15 million and a PE ratio of -9.59. 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 posted 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. WhiteFiber had a negative net margin of 46.87% and a negative return on equity of 10.72%. The business had revenue of $28.84 million for the quarter. On average, analysts predict that WhiteFiber, Inc. will post -1.05 earnings per share for the current year.

Institutional Trading of WhiteFiber

Several institutional investors have recently modified their holdings of the stock. Integrated Wealth Concepts LLC acquired a new stake in WhiteFiber in the 2nd quarter worth about $36,000. CoreCap Advisors LLC purchased a new stake in WhiteFiber in the 2nd quarter valued at $235,000. Feynman Point Asset Management LLC grew its holdings in shares of WhiteFiber by 6.9% in the first quarter. Feynman Point Asset Management LLC now owns 169,900 shares of the company's stock valued at $2,024,000 after purchasing an additional 11,000 shares during the period. WINTON GROUP Ltd acquired a new stake in shares of WhiteFiber during the 2nd quarter worth approximately $439,000. Finally, Cetera Investment Advisers acquired a new stake in WhiteFiber during the first quarter worth $203,000.

About WhiteFiber

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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