WhiteFiber (NASDAQ:WYFI) Shares Down 7.6% - What's Next?

Key Points

• WhiteFiber's shares declined by 7.6%, trading between $35.00 and $36.16, with a significant drop in trading volume.
• Recent analyst reports show mixed outlooks, with Wall Street Zen downgrading the stock to "sell" while others maintain "buy" ratings with various price targets.
• The stock currently holds an average rating of "Moderate Buy" with a consensus price target of $34.00 according to MarketBeat.

WhiteFiber, Inc. (NASDAQ:WYFI - Get Free Report)'s share price dropped 7.6% on Tuesday . The stock traded as low as $35.00 and last traded at $36.16. Approximately 614,145 shares traded hands during mid-day trading, a decline of 50% from the average daily volume of 1,231,089 shares. The stock had previously closed at $39.13.

Analyst Upgrades and Downgrades

WYFI has been the topic of several analyst reports. Wall Street Zen downgraded shares of WhiteFiber from a "hold" rating to a "sell" rating in a research report on Friday, September 5th. UBS Group set a $51.00 price objective on shares of WhiteFiber in a research report on Monday, October 6th. Roth Capital boosted their price objective on shares of WhiteFiber from $25.00 to $28.00 and gave the company a "buy" rating in a research report on Thursday, September 18th. Craig Hallum began coverage on shares of WhiteFiber in a research report on Tuesday, September 2nd. They set a "buy" rating and a $25.00 price objective on the stock. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $34.00 price objective on shares of WhiteFiber in a research report on Thursday, September 18th. Six 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 presently has an average rating of "Moderate Buy" and a consensus price target of $34.00.

WhiteFiber Trading Down 2.6%

The business's 50 day moving average is $23.18.

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”).

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