WhiteFiber (NASDAQ:WYFI) Given Buy Rating at BTIG Research

Key Points

• BTIG Research reiterated a Buy rating on WhiteFiber and set a $50 price target, implying approximately 75% upside from the reported price of $28.55.
• Analyst sentiment is broadly positive: 10 analysts rate the stock Buy, three Hold, and one Sell, resulting in a “Moderate Buy” consensus and an average target price of $34.83.
• WhiteFiber reported quarterly revenue of $28.84 million and an adjusted EPS loss of $0.39, slightly better than the expected $0.40 loss, but continues to show negative profitability metrics.

WhiteFiber (NASDAQ:WYFI - Get Free Report)'s stock had its "buy" rating restated by investment analysts at BTIG Research in a research report issued to clients and investors on Wednesday,Benzinga reports. They presently have a $50.00 target price on the stock. BTIG Research's target price would indicate a potential upside of 75.13% from the company's current price.

A number of other equities analysts also recently issued reports on WYFI. Barclays raised their price objective on WhiteFiber from $27.00 to $29.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 21st. Weiss Ratings reissued a "sell (d)" rating on shares of WhiteFiber in a research report on Wednesday, June 24th. B. Riley Financial restated a "buy" rating on shares of WhiteFiber in a research report on Monday, May 18th. Cantor Fitzgerald upped their price objective on shares of WhiteFiber from $13.00 to $27.00 and gave the company a "neutral" rating in a research note on Friday, May 15th. Finally, Needham & Company LLC increased their price objective on shares of WhiteFiber from $36.00 to $38.00 and gave the stock a "buy" rating in a research report on Friday, May 15th. Ten research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $34.83.

WhiteFiber Price Performance

WhiteFiber stock traded up $4.33 during mid-day trading on Wednesday, reaching $28.55. The company had a trading volume of 2,108,223 shares, compared to its average volume of 1,568,949. The business has a fifty day simple moving average of $30.13 and a 200 day simple moving average of $22.77. The company has a market cap of $1.10 billion and a P/E ratio of -19.69. WhiteFiber has a fifty-two week low of $10.51 and a fifty-two week high of $46.87. The company has a current ratio of 2.77, a quick ratio of 2.77 and a debt-to-equity ratio of 0.63.

WhiteFiber (NASDAQ:WYFI - Get Free Report) last announced its quarterly earnings results on Wednesday, August 12th. The company reported ($0.39) EPS for the quarter, beating analysts' consensus estimates of ($0.40) by $0.01. WhiteFiber had a negative return on equity of 9.40% and a negative net margin of 45.24%.The company had revenue of $28.84 million during the quarter. On average, equities research analysts predict that WhiteFiber will post -1.26 earnings per share for the current year.

Institutional Investors Weigh In On WhiteFiber

A number of hedge funds have recently added to or reduced their stakes in the business. Strs Ohio bought a new position in shares of WhiteFiber during the 4th quarter worth approximately $30,000. Royal Bank of Canada increased its stake in shares of WhiteFiber by 108.2% in the 4th quarter. Royal Bank of Canada now owns 2,394 shares of the company's stock valued at $37,000 after acquiring an additional 1,244 shares in the last quarter. Police & Firemen s Retirement System of New Jersey acquired a new position in shares of WhiteFiber during the 4th quarter valued at $44,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of WhiteFiber during the 4th quarter valued at $55,000. Finally, MetLife Investment Management LLC bought a new position in WhiteFiber during the fourth quarter worth $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.

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