WhiteFiber, Inc.’s (NASDAQ:WYFI) Lock-Up Period Will End on February 3rd

WhiteFiber’s (NASDAQ:WYFI) lock-up period will end on Tuesday, February 3rd. WhiteFiber had issued 9,375,000 shares in its initial public offering on August 7th. The total size of the offering was $159,375,000 based on an initial share price of $17.00. After the end of the company’s lock-up period, company insiders and major shareholders will be able to sell their shares of the company.

Wall Street Analysts Forecast Growth

WYFI has been the subject of several recent research reports. Needham & Company LLC dropped their price objective on shares of WhiteFiber from $45.00 to $38.00 and set a “buy” rating for the company in a research report on Friday, November 14th. HC Wainwright reaffirmed a “buy” rating and set a $34.00 price target on shares of WhiteFiber in a research report on Monday. Citizens Jmp began coverage on WhiteFiber in a research report on Wednesday, November 19th. They issued a “market outperform” rating and a $37.00 price objective on the stock. JMP Securities set a $37.00 target price on WhiteFiber in a research report on Wednesday, November 19th. Finally, B. Riley lowered their target price on WhiteFiber from $44.00 to $40.00 and set a “buy” rating for the company in a research note on Wednesday, December 24th. Nine research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $36.30.

WhiteFiber Price Performance

WhiteFiber stock opened at $20.53 on Tuesday. WhiteFiber has a 12-month low of $13.91 and a 12-month high of $40.75. The stock has a market cap of $785.48 million and a P/E ratio of -43.68. The business’s fifty day moving average price is $18.13.

WhiteFiber (NASDAQ:WYFI) last announced its earnings results on Thursday, November 13th. The company reported ($0.47) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.35). The firm had revenue of $20.18 million during the quarter, compared to the consensus estimate of $21.18 million. WhiteFiber’s quarterly revenue was up 64.2% compared to the same quarter last year.

Institutional Trading of WhiteFiber

A number of hedge funds have recently made changes to their positions in the stock. Shikiar Asset Management Inc. increased its stake in shares of WhiteFiber by 4.9% in the fourth quarter. Shikiar Asset Management Inc. now owns 48,790 shares of the company’s stock worth $771,000 after buying an additional 2,290 shares during the last quarter. CCG Wealth Management LLC acquired a new position in WhiteFiber during the 4th quarter worth $263,000. JPMorgan Chase & Co. bought a new stake in shares of WhiteFiber in the 3rd quarter worth about $2,718,000. Penn Capital Management Company LLC acquired a new stake in shares of WhiteFiber in the 3rd quarter valued at about $546,000. Finally, Advisory Services Network LLC bought a new position in shares of WhiteFiber during the third quarter worth about $759,000.

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.