WhiteFiber (NASDAQ:WYFI) Shares Up 4.7% - Still a Buy?

Key Points

• WhiteFiber shares rose 4.7% to $18.58 in mid-day trading, with about 1.69 million shares changing hands.
• Analyst sentiment remains positive overall: 11 analysts rate the stock Buy, two rate it Hold and one rates it Sell. The consensus rating is “Moderate Buy”, with an average price target of $36.08.
• WhiteFiber reported quarterly revenue of $28.84 million and an adjusted loss of $0.39 per share, slightly better than expectations, but it continues to face weak profitability with a negative net margin of 46.87%.

Shares of WhiteFiber, Inc. (NASDAQ:WYFI - Get Free Report) shot up 4.7% during mid-day trading on Monday . The company traded as high as $18.59 and last traded at $18.58. 1,688,520 shares were traded during mid-day trading, a decline of 3% from the average daily volume of 1,740,360 shares. The stock had previously closed at $17.75.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Needham & Company LLC lifted 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. BTIG Research reissued a "buy" rating and issued a $50.00 target price on shares of WhiteFiber in a research report on Wednesday, August 12th. Barclays raised their target price on WhiteFiber from $29.00 to $32.00 and gave the company an "equal weight" rating in a research note on Friday, August 14th. Weiss Ratings lowered WhiteFiber from a "sell (d)" rating to a "sell (d-)" rating in a research report on Wednesday, August 12th. Finally, B. Riley Financial reaffirmed a "buy" rating on shares of WhiteFiber in a research note on Monday, May 18th. Eleven investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, WhiteFiber presently has an average rating of "Moderate Buy" and a consensus target price of $36.08.

WhiteFiber Trading Up 4.5%

The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.79 and a current ratio of 0.79. The company has a market cap of $720.67 million and a P/E ratio of -10.08. The stock has a 50-day moving average of $28.76 and a two-hundred day moving average of $23.14.

WhiteFiber (NASDAQ:WYFI - Get Free Report) last released its earnings results on Wednesday, August 12th. The company reported ($0.39) 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, equities research analysts predict that WhiteFiber, Inc. will post -0.97 earnings per share for the current year.

Institutional Trading of WhiteFiber

Several institutional investors have recently bought and sold shares of the company. Strs Ohio purchased a new position in WhiteFiber in the fourth quarter worth about $30,000. Royal Bank of Canada grew its holdings in shares of 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 buying an additional 1,244 shares during the last quarter. Police & Firemen s Retirement System of New Jersey bought a new stake in shares of WhiteFiber during the fourth quarter valued at approximately $44,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of WhiteFiber during the fourth quarter valued at approximately $55,000. Finally, MetLife Investment Management LLC purchased a new position in WhiteFiber in the 4th quarter worth approximately $106,000.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source