Short Interest in WhiteFiber, Inc. (NASDAQ:WYFI) Increases By 23.6%

Key Points

• Short interest rose 23.6% to 2,359,802 shares as of March 31, equal to 6.2% of the company's stock and a days-to-cover ratio of 2.4 based on average daily volume.
• WhiteFiber missed EPS with quarterly earnings of -$0.67 versus an expected -$0.14, while revenue came in at $23.56M; the stock recently traded around $15.99 with a $613.5M market cap and a 52-week range of $10.51–$40.75.
• Analysts are mixed but generally positive: the consensus is a "Moderate Buy" with an average price target of $31.18, even as several firms have adjusted targets and ratings in recent reports.

WhiteFiber, Inc. (NASDAQ:WYFI - Get Free Report) was the target of a large increase in short interest in the month of March. As of March 31st, there was short interest totaling 2,359,802 shares, an increase of 23.6% from the March 15th total of 1,909,165 shares. Currently, 6.2% of the company's stock are sold short. Based on an average daily trading volume, of 987,609 shares, the days-to-cover ratio is currently 2.4 days.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on WYFI. Cantor Fitzgerald began coverage on WhiteFiber in a report on Thursday, April 9th. They set a "neutral" rating and a $13.00 target price on the stock. HC Wainwright dropped their target price on WhiteFiber from $34.00 to $20.00 and set a "buy" rating on the stock in a report on Friday, March 27th. BTIG Research began coverage on WhiteFiber in a report on Friday, April 10th. They set a "buy" rating and a $20.00 target price on the stock. B. Riley Financial dropped their target price on WhiteFiber from $44.00 to $40.00 and set a "buy" rating on the stock in a report on Wednesday, December 24th. Finally, Weiss Ratings reiterated a "sell (d)" rating on shares of WhiteFiber in a report on Friday, March 27th. Ten equities 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 stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $31.18.

WhiteFiber Stock Down 0.6%

WYFI stock opened at $15.99 on Thursday. WhiteFiber has a 52-week low of $10.51 and a 52-week high of $40.75. The stock's 50 day moving average is $15.65 and its two-hundred day moving average is $20.49. The company has a market capitalization of $613.54 million and a PE ratio of -14.03.

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

Institutional Investors Weigh In On WhiteFiber

Several hedge funds and other institutional investors have recently bought and sold shares of WYFI. Strs Ohio purchased a new stake in WhiteFiber during the 4th quarter worth approximately $30,000. Royal Bank of Canada increased its holdings in WhiteFiber by 108.2% during the 4th quarter. Royal Bank of Canada now owns 2,394 shares of the company's stock worth $37,000 after purchasing 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 in the 4th quarter valued at approximately $44,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of WhiteFiber in the 4th quarter valued at approximately $55,000. Finally, MetLife Investment Management LLC bought a new stake in shares of WhiteFiber in the 4th quarter valued at approximately $106,000.

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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