WhiteFiber (NASDAQ:WYFI) Shares Down 4.2% - Here's What Happened

Key Points

• WhiteFiber's shares experienced a decline of 4.2%, trading as low as $28.82 before closing at $29.00 on a day with notably low trading volume.
• Multiple analysts have issued various ratings on WhiteFiber, with the average consensus rating being a "Moderate Buy" and a target price of $34.00.
• The company's fifty-day simple moving average currently sits at $24.15, indicating recent upward momentum in stock price performance.

WhiteFiber, Inc. (NASDAQ:WYFI - Get Free Report)'s share price dropped 4.2% on Monday . The company traded as low as $28.82 and last traded at $29.00. Approximately 317,827 shares traded hands during mid-day trading, a decline of 74% from the average daily volume of 1,234,041 shares. The stock had previously closed at $30.27.

Analyst Ratings Changes

Several analysts have recently commented on the company. Roth Capital increased their price objective on WhiteFiber from $25.00 to $28.00 and gave the stock a "buy" rating in a research note on Thursday, September 18th. Craig Hallum initiated coverage on shares of WhiteFiber in a research report on Tuesday, September 2nd. They issued a "buy" rating and a $25.00 price objective for the company. HC Wainwright initiated coverage on WhiteFiber in a research note on Wednesday, October 1st. They set a "buy" rating and a $34.00 target price on the stock. Wall Street Zen downgraded WhiteFiber from a "hold" rating to a "sell" rating in a research note on Friday, September 5th. Finally, Needham & Company LLC reissued a "buy" rating and set a $34.00 target price on shares of WhiteFiber in a report on Thursday, September 18th. Six research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $34.00.

WhiteFiber Stock Performance

The business's fifty day simple moving average is $24.15.

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”).

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