WhiteFiber (NASDAQ:WYFI) Shares Gap Up - What's Next?

Key Points

• WhiteFiber shares gapped up before Monday’s open, rising from a prior close of $21.25 to an open of $23.49 and last trading around $27.07 on heavy volume.
• Analyst sentiment is mixed but still generally positive: the stock has a Moderate Buy consensus with an average price target of $31.18, though some firms have cut targets or maintained neutral/sell views.
• In its latest earnings report, WhiteFiber missed EPS expectations with a loss of $0.67 per share, while revenue came in slightly above estimates at $23.56 million.

WhiteFiber, Inc. (NASDAQ:WYFI - Get Free Report)'s share price gapped up prior to trading on Monday . The stock had previously closed at $21.25, but opened at $23.49. WhiteFiber shares last traded at $27.0660, with a volume of 1,042,424 shares trading hands.

Wall Street Analyst Weigh In

WYFI has been the subject of several recent analyst reports. BTIG Research initiated coverage on shares of WhiteFiber in a report on Friday, April 10th. They issued a "buy" rating and a $20.00 price objective for the company. Weiss Ratings reiterated a "sell (d)" rating on shares of WhiteFiber in a report on Friday, March 27th. HC Wainwright decreased their price objective on shares of WhiteFiber from $34.00 to $20.00 and set a "buy" rating for the company in a report on Friday, March 27th. Needham & Company LLC decreased their price objective on shares of WhiteFiber from $38.00 to $36.00 and set a "buy" rating for the company in a report on Friday, March 27th. Finally, Cantor Fitzgerald initiated coverage on shares of WhiteFiber in a report on Thursday, April 9th. They issued a "neutral" rating and a $13.00 price objective for the company. Ten analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $31.18.

WhiteFiber Price Performance

The stock has a market capitalization of $1.05 billion and a P/E ratio of -23.98. The stock's fifty day moving average is $15.37 and its two-hundred day moving average is $18.84.

WhiteFiber (NASDAQ:WYFI - Get Free Report) last issued its earnings results on Thursday, March 26th. The company reported ($0.67) earnings per share for the quarter, missing analysts' consensus estimates of ($0.14) by ($0.53). The company had revenue of $23.56 million for the quarter, compared to analysts' expectations of $23.07 million. Analysts expect that WhiteFiber, Inc. will post -0.93 EPS for the current year.

Institutional Trading of WhiteFiber

Large investors have recently added to or reduced their stakes in the business. Strs Ohio bought a new stake in WhiteFiber during the fourth quarter worth approximately $30,000. Royal Bank of Canada boosted its holdings in WhiteFiber by 108.2% during the fourth quarter. Royal Bank of Canada now owns 2,394 shares of the company's stock worth $37,000 after buying an additional 1,244 shares in the last quarter. Police & Firemen s Retirement System of New Jersey bought a new stake in WhiteFiber during the fourth quarter worth approximately $44,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in WhiteFiber in the 4th quarter worth approximately $55,000. Finally, MetLife Investment Management LLC acquired a new position in WhiteFiber in the 4th quarter worth approximately $106,000.

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”). 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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