WhiteFiber (NASDAQ:WYFI) Shares Down 8.9% – Time to Sell?

Shares of WhiteFiber, Inc. (NASDAQ:WYFI) dropped 8.9% on Friday . The company traded as low as $24.43 and last traded at $24.71. 282,044 shares traded hands during trading, a decline of 82% from the average daily volume of 1,551,649 shares. The stock had previously closed at $27.11.

Analysts Set New Price Targets

WYFI has been the subject of a number of recent analyst reports. Needham & Company LLC lifted their target price 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. Weiss Ratings reiterated a “sell (d)” rating on shares of WhiteFiber in a research note on Wednesday, June 24th. B. Riley Financial reissued a “buy” rating on shares of WhiteFiber in a report on Monday, May 18th. Barclays upped their target price on WhiteFiber from $27.00 to $29.00 and gave the company an “equal weight” rating in a research report on Tuesday. Finally, BTIG Research raised their target price on WhiteFiber from $35.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, June 24th. Ten equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, WhiteFiber has a consensus rating of “Moderate Buy” and an average target price of $34.83.

WhiteFiber Price Performance

The stock has a market cap of $912.35 million and a price-to-earnings ratio of -16.30. The stock’s 50 day moving average price is $31.27 and its two-hundred day moving average price is $22.26. The company has a quick ratio of 2.77, a current ratio of 2.77 and a debt-to-equity ratio of 0.63.

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

Institutional Inflows and Outflows

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

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.