WhiteFiber, Inc.’s Quiet Period To Expire on September 16th (NASDAQ:WYFI)

WhiteFiber’s (NASDAQ:WYFI) quiet period is set to expire on Tuesday, September 16th. WhiteFiber had issued 9,375,000 shares in its public offering on August 7th. The total size of the offering was $159,375,000 based on an initial share price of $17.00. During the company’s quiet period, underwriters and any insiders that worked on the IPO are prevented from issuing any earnings forecasts or research reports for the company because of SEC regulations. Following the end of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on WYFI shares. B. Riley started coverage on shares of WhiteFiber in a report on Tuesday, September 2nd. They issued a “buy” rating and a $34.00 target price for the company. Needham & Company LLC initiated coverage on shares of WhiteFiber in a research report on Tuesday, September 2nd. They set a “buy” rating and a $34.00 price objective on the stock. Macquarie initiated coverage on shares of WhiteFiber in a research report on Tuesday, September 2nd. They set an “outperform” rating and a $28.00 price objective on the stock. Wall Street Zen cut shares of WhiteFiber from a “hold” rating to a “sell” rating in a research report on Friday. Finally, Craig Hallum started coverage on shares of WhiteFiber in a report on Tuesday, September 2nd. They issued a “buy” rating and a $25.00 price target on the stock. Five investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $29.20.

WhiteFiber Trading Down 2.1%

Shares of WYFI opened at $16.00 on Tuesday. WhiteFiber has a 1 year low of $14.01 and a 1 year high of $25.13.

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”).