WhiteFiber (NASDAQ:WYFI) Stock Price Up 10.6% - Here's Why

Key Points

• WhiteFiber's stock price rose by 10.6% on Monday, reaching a last traded price of $34.51, but trading volume decreased significantly by 48% compared to its average daily volume.
• Multiple analysts have recently upgraded their price targets for WhiteFiber, with UBS Group setting a target of $51.00 and a consensus target of $34.00 among investment analysts.
• WhiteFiber is recognized as a leading provider of artificial intelligence infrastructure solutions, specifically catering to AI application and machine learning developers through its high-performance computing services.

WhiteFiber, Inc. (NASDAQ:WYFI - Get Free Report) shares were up 10.6% on Monday . The stock traded as high as $35.42 and last traded at $34.51. Approximately 630,793 shares traded hands during trading, a decline of 48% from the average daily volume of 1,216,224 shares. The stock had previously closed at $31.20.

Analysts Set New Price Targets

WYFI has been the topic of a number of recent research reports. B. Riley began coverage on shares of WhiteFiber in a report on Tuesday, September 2nd. They set a "buy" rating and a $34.00 price target on the stock. Roth Capital lifted their price objective on shares of WhiteFiber from $25.00 to $28.00 and gave the company a "buy" rating in a research note on Thursday, September 18th. UBS Group set a $51.00 target price on WhiteFiber in a research report on Monday. Macquarie upped their price objective on shares of WhiteFiber from $28.00 to $32.00 and gave the stock an "outperform" rating in a report on Friday, September 26th. Finally, HC Wainwright initiated coverage on WhiteFiber in a research note on Wednesday, October 1st. They issued a "buy" rating and a $34.00 price objective for the company. Six investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $34.00.

WhiteFiber Stock Up 8.8%

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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