WhiteFiber (NASDAQ:WYFI) Trading Down 5.3% - What's Next?

Key Points

• WhiteFiber (NASDAQ:WYFI) experienced a 5.3% decline in stock price, trading as low as $16.90, with a trading volume that was 24% below average.
• Analysts have given a positive outlook, with a majority rating the stock as Buy and an average target price of $29.20.
• Research reports from multiple firms include target prices ranging from $25.00 to $34.00, indicating confidence in the company's artificial intelligence infrastructure solutions.

WhiteFiber, Inc. (NASDAQ:WYFI - Get Free Report)'s stock price dropped 5.3% on Wednesday . The stock traded as low as $16.90 and last traded at $16.96. Approximately 735,330 shares changed hands during mid-day trading, a decline of 24% from the average daily volume of 967,382 shares. The stock had previously closed at $17.91.

Analyst Ratings Changes

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 report on Friday. Craig Hallum began coverage on shares of WhiteFiber in a report on Tuesday, September 2nd. They set a "buy" rating and a $25.00 price objective on the stock. Macquarie began coverage on shares of WhiteFiber in a report on Tuesday, September 2nd. They set an "outperform" rating and a $28.00 price objective on the stock. Zacks Research raised shares of WhiteFiber to a "hold" rating in a report on Wednesday, September 3rd. Finally, Needham & Company LLC began coverage on shares of WhiteFiber in a report on Tuesday, September 2nd. They set a "buy" rating and a $34.00 price objective on the stock. Five investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $29.20.

WhiteFiber Trading Down 2.1%

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”).