WhiteFiber (NASDAQ:WYFI) Stock Price Down 5.1% - Here's What Happened

Key Points

• WhiteFiber, Inc. (NASDAQ:WYFI) experienced a 5.1% decline in its stock price on Tuesday, trading between $26.05 and $26.59, with a significant drop in trading volume by 74% from its average.
• Recent analyst changes include an "outperform" rating from Macquarie with a target price of $28.00, while Wall Street Zen downgraded the stock from "hold" to "sell," leading to a consensus rating of "Moderate Buy."
• WhiteFiber operates in the artificial intelligence (AI) infrastructure sector, providing high-performance computing data centers and cloud-based GPU services for AI and machine learning developers.

WhiteFiber, Inc. (NASDAQ:WYFI - Get Free Report)'s share price was down 5.1% on Tuesday . The stock traded as low as $26.05 and last traded at $26.59. Approximately 295,164 shares were traded during trading, a decline of 74% from the average daily volume of 1,136,689 shares. The stock had previously closed at $28.02.

Analyst Ratings Changes

WYFI has been the subject of several recent analyst reports. Macquarie started coverage on shares of WhiteFiber in a research note on Tuesday, September 2nd. They issued an "outperform" rating and a $28.00 target price for the company. Wall Street Zen lowered WhiteFiber from a "hold" rating to a "sell" rating in a report on Friday, September 5th. Needham & Company LLC restated a "buy" rating and issued a $34.00 price target on shares of WhiteFiber in a report on Thursday, September 18th. Roth Capital lifted their price objective on WhiteFiber from $25.00 to $28.00 and gave the company a "buy" rating in a report on Thursday, September 18th. Finally, Craig Hallum began coverage on WhiteFiber in a research note on Tuesday, September 2nd. They set a "buy" rating and a $25.00 target price for the company. Five research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $29.80.

WhiteFiber Trading Up 0.6%

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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