WhiteFiber (NASDAQ:WYFI) Shares Gap Up - Here's Why

Key Points

• WhiteFiber, Inc. (NASDAQ:WYFI) saw its shares gap up from a previous close of $26.30 to an opening of $29.00, with current trading at $27.17 and a volume of 561,601 shares.
• Analysts have issued a consensus rating of "Moderate Buy" for WhiteFiber, with an average price target of $29.80, reflecting growing optimism about the stock's potential.
• Needham & Company LLC and B. Riley both reiterated a "buy" rating" on the stock with price targets of $34.00, indicating strong confidence in WhiteFiber's growth prospects.

WhiteFiber, Inc. (NASDAQ:WYFI - Get Free Report)'s stock price gapped up before the market opened on Monday . The stock had previously closed at $26.30, but opened at $29.00. WhiteFiber shares last traded at $27.17, with a volume of 561,601 shares changing hands.

Wall Street Analysts Forecast Growth

WYFI has been the subject of a number of recent analyst reports. Zacks Research upgraded WhiteFiber to a "hold" rating in a research report on Wednesday, September 3rd. Macquarie began 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. Roth Capital upped their price objective on WhiteFiber from $25.00 to $28.00 and gave the stock a "buy" rating in a research report on Thursday. B. Riley began coverage on WhiteFiber in a research report on Tuesday, September 2nd. They set a "buy" rating and a $34.00 price objective for the company. Finally, Craig Hallum began coverage on WhiteFiber in a research report on Tuesday, September 2nd. They set a "buy" rating and a $25.00 price objective for the company. Five investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, WhiteFiber presently has an average rating of "Moderate Buy" and an average price target of $29.80.

WhiteFiber Stock Performance

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”).