WhiteFiber, Inc. enters the first week of June with shorts pulling back from their peak — yet the borrow market and options positioning both suggest the tension is far from resolved.
Short interest eased to 9.7% of free float on June 2, down nearly 9% on the day, but that single-session drop follows a month in which SI climbed 43%. The week-on-week change still shows shorts up 28% from where they were seven days ago. The ORTEX short score is 73.96 — fractionally off the recent high of 75.1 but firmly in the top few percent of all tracked stocks. This is not a short squeeze in progress; it looks more like a brief exhale after a heavy accumulation run.
The borrow market tells the same story in softer tones. Cost to borrow has eased to 8.45% APR, down 36% on the week after peaking at 13.15% on May 27. Availability has recovered to 27.7% — better than the near-zero reading of 0.12% touched on May 18, but still tight enough that fewer than one share is borrowable for every three already lent out. The 52-week low availability was essentially zero; the current level is a partial normalization, not a return to comfort. New shorts remain expensive and constrained relative to the conditions that held through most of April.
Options traders have quietly shifted more defensive through the rally. The put/call ratio has climbed to 0.52, up from below 0.22 throughout April, and now runs roughly 1.4 standard deviations above its 20-day average of 0.35. That's not an extreme reading — the 52-week high PCR hit 2.97 — but the direction of travel is clear. Participants who were largely ignoring downside protection a month ago are now paying meaningfully more for it. The move in the PCR mirrors the price action: WYFI fell 4.4% on June 2 and is down 4% on the week, even after an 81% gain over the past month. Close peer rose 12.6% on the week; added 22%. WYFI's underperformance against its AI-infrastructure peers this week is notable given the sector tailwind.
The Street remains net constructive, though the coverage base is thin. Following May 14 earnings, BTIG raised its Buy target from $20 to $35 and Needham lifted its Buy target to $38. Cantor Fitzgerald, the only Neutral voice in the group, doubled its target to $27. The mean price target is $35.44 against a close of $30.16 — roughly 18% implied upside. Bulls point to long-term HPC contracts and the company's positioning in the generative AI data center buildout. Bears flag execution risk on pipeline capacity, fierce competition from larger players, and the real constraints of power pricing and supply chains. The valuation backdrop is complicated by negative earnings — the PE ratio is deeply negative and EV/EBITDA ticked up 1.5 points over 30 days — so the investment case rests on 2027 EBITDA projections rather than current profitability.
One structural ownership fact worth holding in context: Bit Digital holds 70% of shares outstanding. That level of concentration makes the free float dynamics particularly sensitive to any change in sentiment among the smaller institutional holders. Millennium Management and Castleknight both built positions in Q1; Clearfield Capital trimmed sharply over the same period.
The next scheduled earnings event is August 13. Between now and then, the key data points to watch are whether short interest continues to ease from its recent peak or resumes building, and whether the borrow market tightens again as availability compresses back toward its mid-May lows.
See the live data behind this article on ORTEX.
Open WYFI on ORTEX →ORTEX Market Intelligence content is generated by AI from a snapshot of ORTEX's proprietary data. Content is informational only and does not constitute investment advice.
