WhiteFiber (NASDAQ:WYFI) Shares Gap Up – Time to Buy?

WhiteFiber, Inc. (NASDAQ:WYFI) shares gapped up prior to trading on Friday . The stock had previously closed at $14.30, but opened at $17.00. WhiteFiber shares last traded at $16.50, with a volume of 1,438,577 shares traded.

Analysts Set New Price Targets

Several analysts have commented on WYFI shares. Craig Hallum started coverage on shares of WhiteFiber in a research report on Tuesday, September 2nd. They set a “buy” rating and a $25.00 price target for the company. B. Riley reiterated a “buy” rating on shares of WhiteFiber in a research note on Wednesday, October 22nd. Zacks Research upgraded shares of WhiteFiber to a “hold” rating in a research note on Wednesday, September 3rd. Compass Point started coverage on shares of WhiteFiber in a report on Tuesday. They issued a “buy” rating and a $32.00 price target on the stock. Finally, Citizens Jmp began coverage on WhiteFiber in a research report on Wednesday, November 19th. They set a “market outperform” rating and a $37.00 price target on the stock. Nine analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $35.70.

WhiteFiber Trading Up 17.1%

The company has a fifty day simple moving average of $24.38.

WhiteFiber (NASDAQ:WYFI) last issued its earnings results on Thursday, November 13th. The company reported ($0.47) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.35). The company had revenue of $20.18 million during the quarter, compared to analysts’ expectations of $21.18 million. The business’s revenue for the quarter was up 64.2% on a year-over-year basis.

Hedge Funds Weigh In On WhiteFiber

Large investors have recently added to or reduced their stakes in the stock. Prelude Capital Management LLC purchased a new position in shares of WhiteFiber during the 3rd quarter worth $258,000. J.W. Cole Advisors Inc. acquired a new position in WhiteFiber in the third quarter valued at about $260,000. Militia Capital Partners LP purchased a new position in WhiteFiber during the third quarter worth about $326,000. Gladstone Institutional Advisory LLC acquired a new stake in shares of WhiteFiber during the third quarter valued at about $349,000. Finally, Pentwater Capital Management LP purchased a new stake in shares of WhiteFiber in the 3rd quarter valued at approximately $353,000.

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.