WhiteFiber (NASDAQ:WYFI) Trading Down 7.7% - Here's What Happened

Key Points

• WhiteFiber shares fell 7.7% on Thursday, trading as low as $26.75 before last changing hands at $26.95, with volume running well below average.
• Analyst sentiment remains mostly positive: multiple firms reiterated or raised their targets, and the stock now carries a Moderate Buy consensus with an average price target of $34.67.
• The company recently reported a Q1 EPS miss of -$0.31 versus estimates of -$0.24, even though revenue rose 30.4% year over year to $21.92 million.

WhiteFiber, Inc. (NASDAQ:WYFI - Get Free Report) shares traded down 7.7% during trading on Thursday . The company traded as low as $26.75 and last traded at $26.9450. Approximately 733,901 shares were traded during trading, a decline of 52% from the average daily volume of 1,517,217 shares. The stock had previously closed at $29.18.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on WYFI. B. Riley Financial reaffirmed a "buy" rating on shares of WhiteFiber in a research report on Monday, May 18th. BTIG Research increased their price target on shares of WhiteFiber from $35.00 to $50.00 and gave the company a "buy" rating in a research report on Wednesday, June 24th. Cantor Fitzgerald raised their price objective on shares of WhiteFiber from $13.00 to $27.00 and gave the stock a "neutral" rating in a report on Friday, May 15th. Needham & Company LLC lifted their price objective on shares of WhiteFiber from $36.00 to $38.00 and gave the stock a "buy" rating in a research report on Friday, May 15th. Finally, HC Wainwright reduced their target price on shares of WhiteFiber from $34.00 to $20.00 and set a "buy" rating for the company in a research report on Friday, March 27th. Ten analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $34.67.

WhiteFiber Stock Performance

The company's fifty day simple moving average is $31.10 and its 200 day simple moving average is $21.80. The company has a current ratio of 2.77, a quick ratio of 2.77 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $1.02 billion and a P/E ratio of -18.04.

WhiteFiber (NASDAQ:WYFI - Get Free Report) last released its quarterly earnings results on Thursday, May 14th. The company reported ($0.31) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.07). WhiteFiber had a negative net margin of 45.24% and a negative return on equity of 9.40%. The business had revenue of $21.92 million during the quarter. The business's revenue was up 30.4% on a year-over-year basis. As a group, sell-side analysts forecast that WhiteFiber, Inc. will post -1.26 earnings per share for the current fiscal year.

Institutional Trading of WhiteFiber

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Situational Awareness LP purchased a new position in WhiteFiber during the 4th quarter valued at about $27,770,000. Clearfield Capital Management LP lifted its holdings in WhiteFiber by 426.6% in the 4th quarter. Clearfield Capital Management LP now owns 1,313,659 shares of the company's stock worth $20,756,000 after buying an additional 1,064,177 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of WhiteFiber by 4.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 600,315 shares of the company's stock worth $9,486,000 after buying an additional 24,189 shares during the last quarter. Balyasny Asset Management L.P. increased its stake in shares of WhiteFiber by 67.7% during the fourth quarter. Balyasny Asset Management L.P. now owns 457,749 shares of the company's stock valued at $7,232,000 after buying an additional 184,829 shares during the period. Finally, Marshall Wace LLP bought a new position in shares of WhiteFiber during the third quarter valued at approximately $9,105,000.

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”). 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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