WhiteFiber (NASDAQ:WYFI) Stock Price Up 12% - Still a Buy?

Key Points

• Shares rose 12% to $15.21 on Friday, though trading was light—about 187,426 shares changed hands, roughly 79% below the average daily volume.
• Analyst sentiment remains bullish: 10 Buys, 2 Holds and 1 Sell produce a "Moderate Buy" consensus with a target price of $31.18, despite several recent price-target cuts by some firms.
• Quarterly results missed on EPS, reporting ($0.67) versus an expected ($0.14) while revenue slightly beat at $23.56 million versus $23.07 million expected.

Shares of WhiteFiber, Inc. (NASDAQ:WYFI - Get Free Report) rose 12% during trading on Friday . The stock traded as high as $15.12 and last traded at $15.2110. Approximately 187,426 shares changed hands during trading, a decline of 79% from the average daily volume of 903,249 shares. The stock had previously closed at $13.58.

Analysts Set New Price Targets

WYFI has been the topic of several recent analyst reports. BTIG Research initiated coverage on shares of WhiteFiber in a research report on Friday. They set a "buy" rating and a $20.00 price objective on the stock. Needham & Company LLC cut their price objective on shares of WhiteFiber from $38.00 to $36.00 and set a "buy" rating on the stock in a research report on Friday, March 27th. Compass Point initiated coverage on shares of WhiteFiber in a research report on Tuesday, December 16th. They set a "buy" rating and a $32.00 price objective on the stock. B. Riley Financial cut their price objective on shares of WhiteFiber from $44.00 to $40.00 and set a "buy" rating on the stock in a research report on Wednesday, December 24th. Finally, Cantor Fitzgerald initiated coverage on shares of WhiteFiber in a report on Thursday. They set a "neutral" rating and a $13.00 price target on the stock. Ten investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, WhiteFiber currently has an average rating of "Moderate Buy" and a consensus target price of $31.18.

WhiteFiber Stock Performance

The business's fifty day moving average price is $15.88 and its 200-day moving average price is $20.82. The stock has a market cap of $565.34 million and a PE ratio of -12.83.

WhiteFiber (NASDAQ:WYFI - Get Free Report) last announced its quarterly earnings results on Thursday, March 26th. The company reported ($0.67) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.14) by ($0.53). The firm had revenue of $23.56 million for the quarter, compared to analysts' expectations of $23.07 million.

Hedge Funds Weigh In On WhiteFiber

Several institutional investors have recently made changes to their positions in the business. Feynman Point Asset Management LLC bought a new position in shares of WhiteFiber in the 4th quarter worth approximately $2,511,000. Empowered Funds LLC bought a new position in shares of WhiteFiber in the 4th quarter worth approximately $791,000. XTX Topco Ltd bought a new position in shares of WhiteFiber in the 4th quarter worth approximately $248,000. Balyasny Asset Management L.P. lifted its stake in shares of WhiteFiber by 67.7% in the 4th quarter. Balyasny Asset Management L.P. now owns 457,749 shares of the company's stock worth $7,232,000 after purchasing an additional 184,829 shares during the period. Finally, Lazard Asset Management LLC bought a new position in shares of WhiteFiber in the 4th quarter worth approximately $1,797,000.

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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