WhiteFiber (NASDAQ:WYFI) Trading Down 8.7% - Time to Sell?

Key Points

• WhiteFiber shares fell 8.7% in mid-day trading to about $23.96, with volume well below the stock’s average session volume.
• Analyst sentiment remains broadly positive: 10 analysts rate the stock a Buy, three rate it Hold and one rates it Sell, producing a “Moderate Buy” consensus and an average price target of $34.83.
• The company’s quarterly revenue rose 30.4% year over year to $21.92 million, but it missed EPS expectations and reported a negative net margin of 45.24%; analysts expect a full-year loss of $1.26 per share.

WhiteFiber, Inc. (NASDAQ:WYFI - Get Free Report)'s stock price traded down 8.7% during mid-day trading on Friday . The company traded as low as $24.53 and last traded at $23.9610. 654,982 shares were traded during mid-day trading, a decline of 58% from the average session volume of 1,574,082 shares. The stock had previously closed at $26.25.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Needham & Company LLC raised their price objective on shares of WhiteFiber from $36.00 to $38.00 and gave the stock a "buy" rating in a research note on Friday, May 15th. Cantor Fitzgerald boosted their target price on shares of WhiteFiber from $13.00 to $27.00 and gave the company a "neutral" rating in a research note on Friday, May 15th. BTIG Research increased their price target on shares of WhiteFiber from $35.00 to $50.00 and gave the stock a "buy" rating in a report on Wednesday, June 24th. B. Riley Financial restated a "buy" rating on shares of WhiteFiber in a research report on Monday, May 18th. Finally, Weiss Ratings reaffirmed a "sell (d)" rating on shares of WhiteFiber in a report on Wednesday, June 24th. Ten investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, WhiteFiber currently has an average rating of "Moderate Buy" and a consensus target price of $34.83.

WhiteFiber Stock Down 7.3%

The business has a 50-day moving average price of $31.08 and a 200-day moving average price of $22.45. The stock has a market cap of $939.83 million and a PE ratio of -16.77. The company has a current ratio of 2.77, a quick ratio of 2.77 and a debt-to-equity ratio of 0.63.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Strs Ohio purchased a new stake in WhiteFiber during the 4th quarter worth approximately $30,000. Royal Bank of Canada lifted its holdings in WhiteFiber by 108.2% in the 4th quarter. Royal Bank of Canada now owns 2,394 shares of the company's stock valued at $37,000 after purchasing an additional 1,244 shares in the last quarter. Police & Firemen s Retirement System of New Jersey acquired a new stake in WhiteFiber during the 4th quarter worth $44,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of WhiteFiber during the fourth quarter worth $55,000. Finally, MetLife Investment Management LLC purchased a new stake in shares of WhiteFiber during the fourth quarter worth $106,000.

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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