WhiteFiber (NASDAQ:WYFI) Sees Large Volume Increase - Should You Buy?

Key Points

• WhiteFiber (NASDAQ:WYFI) experienced a 4% increase in trading volume with 911,830 shares traded, closing at $17.30.
• Several analysts have issued new ratings for WhiteFiber, with five analysts giving it a Buy rating and an average price target of $29.20.
• The company focuses on artificial intelligence infrastructure solutions, including high-performance computing data centers and cloud-based GPU services.

Shares of WhiteFiber, Inc. (NASDAQ:WYFI - Get Free Report) saw strong trading volume on Tuesday . 911,830 shares were traded during trading, an increase of 4% from the previous session's volume of 875,411 shares.The stock last traded at $17.30 and had previously closed at $16.91.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Macquarie assumed coverage on WhiteFiber in a research report on Tuesday, September 2nd. They set an "outperform" rating and a $28.00 target price for the company. Needham & Company LLC initiated coverage on WhiteFiber in a research note on Tuesday, September 2nd. They set a "buy" rating and a $34.00 price objective for the company. Craig Hallum initiated coverage on WhiteFiber in a research note on Tuesday, September 2nd. They set a "buy" rating and a $25.00 price objective for the company. Roth Capital initiated coverage on WhiteFiber in a research note on Tuesday, September 2nd. They set a "buy" rating and a $25.00 price objective for the company. Finally, Wall Street Zen cut WhiteFiber from a "hold" rating to a "sell" rating in a research note on Friday. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $29.20.

WhiteFiber Stock Up 0.5%

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”).