WhiteFiber (NASDAQ:WYFI) Shares Up 11.8% - Here's Why

Key Points

• WhiteFiber shares rose about 11.8% intraday
• Analysts are largely bullish with a MarketBeat consensus of "Moderate Buy" and a consensus price target of $36.22 (nine Buys, one Hold, one Sell among covering analysts).
• WhiteFiber is an AI infrastructure provider operating HPC data centers and GPU cloud services for generative AI training and inference, with a market cap around $650 million and a negative P/E.

WhiteFiber, Inc. (NASDAQ:WYFI - Get Free Report)'s stock price was up 11.8% during mid-day trading on Wednesday . The company traded as high as $17.37 and last traded at $17.7390. Approximately 155,785 shares traded hands during trading, a decline of 83% from the average daily volume of 905,545 shares. The stock had previously closed at $15.87.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on WYFI shares. Weiss Ratings restated a "sell (d)" rating on shares of WhiteFiber in a report on Monday, December 29th. Roth Mkm decreased their target price on shares of WhiteFiber from $42.00 to $37.00 and set a "buy" rating for the company in a report on Friday, November 14th. Citigroup started coverage on shares of WhiteFiber in a research note on Wednesday, November 19th. They issued an "outperform" rating on the stock. Compass Point assumed coverage on shares of WhiteFiber in a report on Tuesday, December 16th. They set a "buy" rating and a $32.00 price target on the stock. Finally, B. Riley Financial reduced their price target on shares of WhiteFiber from $44.00 to $40.00 and set a "buy" rating for the company in a research report on Wednesday, December 24th. Nine equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $36.22.

WhiteFiber Trading Up 7.1%

The company's 50 day simple moving average is $18.21 and its 200-day simple moving average is $21.65. The firm has a market cap of $650.04 million and a P/E ratio of -36.13.

Institutional Investors Weigh In On WhiteFiber

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

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”). 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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