WhiteFiber (NASDAQ:WYFI) Stock Price Down 5.3% - Here's What Happened

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 was down 5.3% during mid-day trading on Wednesday . The company traded as low as $16.90 and last traded at $16.96. Approximately 735,330 shares changed hands during trading, a decline of 24% from the average daily volume of 967,382 shares. The stock had previously closed at $17.91.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on WYFI. Wall Street Zen raised shares of WhiteFiber to a "hold" rating in a research note on Saturday, August 16th. Needham & Company LLC assumed coverage on shares of WhiteFiber in a research report on Tuesday. They issued a "buy" rating and a $34.00 target price on the stock. Macquarie began coverage on shares of WhiteFiber in a research note on Tuesday. They set an "outperform" rating and a $28.00 target price for the company. B. Riley started coverage on WhiteFiber in a report on Tuesday. They set a "buy" rating and a $34.00 target price for the company. Finally, Roth Capital started coverage on shares of WhiteFiber in a research report on Tuesday. They set a "buy" rating and a $25.00 price target on the stock. Five analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $29.20.

WhiteFiber Stock Down 6.4%

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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