WhiteFiber (NASDAQ:WYFI) Stock Price Up 14.4% - Should You Buy?

Key Points

• WhiteFiber, Inc. (NASDAQ:WYFI) shares surged by 14.4%, closing at $21.03 after reaching a high of $21.69 on Wednesday.
• Equities research analysts have given WhiteFiber a consensus rating of "Moderate Buy" with an average target price of $29.20, following multiple upgrades and downgrades.
• The company specializes in artificial intelligence (AI) infrastructure solutions, providing high-performance computing data centers and cloud-based GPU services to AI and machine learning developers.

Shares of WhiteFiber, Inc. (NASDAQ:WYFI - Get Free Report) traded up 14.4% on Wednesday . The company traded as high as $21.69 and last traded at $21.03. 595,433 shares traded hands during trading, a decline of 37% from the average session volume of 943,516 shares. The stock had previously closed at $18.39.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Zacks Research upgraded WhiteFiber to a "hold" rating in a research report on Wednesday, September 3rd. B. Riley assumed coverage on WhiteFiber in a research report on Tuesday, September 2nd. They issued a "buy" rating and a $34.00 price target on the stock. Craig Hallum started coverage on WhiteFiber in a report on Tuesday, September 2nd. They issued a "buy" rating and a $25.00 price target on the stock. Needham & Company LLC started coverage on WhiteFiber in a research note on Tuesday, September 2nd. They issued a "buy" rating and a $34.00 price objective for the company. Finally, Wall Street Zen downgraded WhiteFiber from a "hold" rating to a "sell" rating in a research note on Friday, September 5th. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $29.20.

WhiteFiber Stock Performance

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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