Cree Inc. [NASDAQ: CREE] gained 4.81% or 2.81 points to close at $61.22 with a heavy trading volume of 1394780 shares.
It opened the trading session at $59.28, the shares rose to $61.45 and dropped to $58.76, the range by which the price of stock traded the whole day. The daily chart for CREE points out that the company has recorded 62.73% gains over the past six months. However, it is still -120.45% lower than its most recent low trading price.
If we look at the average trading volume of 1.13M shares, CREE reached to a volume of 1394780 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Cree Inc. [CREE]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CREE shares is $65.92 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CREE stock is a recommendation set at 2.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
ROTH Capital have made an estimate for Cree Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on August 19, 2020. The new note on the price target was released on August 19, 2020, representing the official price target for Cree Inc. stock. Previously, the target price had yet another raise to $82, while Citigroup analysts kept a Neutral rating on CREE stock. On June 16, 2020, analysts increased their price target for CREE shares from 54 to 68.
The Average True Range (ATR) for Cree Inc. is set at 2.78, with the Price to Sales ratio for CREE stock in the period of the last 12 months amounting to 7.58. The Price to Book ratio for the last quarter was 3.19, with the Price to Cash per share for the same quarter was set at 11.18.
Trading performance analysis for CREE stock
Cree Inc. [CREE] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -4.88. With this latest performance, CREE shares gained by 1.41% in over the last four-week period, additionally plugging by 62.73% over the last 6 months – not to mention a rise of 18.64% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CREE stock in for the last two-week period is set at 46.49, with the RSI for the last a single of trading hit 46.37, and the three-weeks RSI is set at 46.60 for Cree Inc. [CREE]. The present Moving Average for the last 50 days of trading for this stock 65.93, while it was recorded at 62.21 for the last single week of trading, and 51.91 for the last 200 days.
Cree Inc. [CREE]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and Cree Inc. [CREE] shares currently have an operating margin of -18.13 and a Gross Margin at +25.87. Cree Inc.’s Net Margin is presently recorded at -21.21.
Return on Total Capital for CREE is now -6.06, given the latest momentum, and Return on Invested Capital for the company is -7.11. Return on Equity for this stock declined to -9.31, with Return on Assets sitting at -6.34. When it comes to the capital structure of this company, Cree Inc. [CREE] has a Total Debt to Total Equity ratio set at 39.01. Additionally, CREE Total Debt to Total Capital is recorded at 28.06, with Total Debt to Total Assets ending up at 25.15. Long-Term Debt to Equity for the company is recorded at 38.59, with the Long-Term Debt to Total Capital now at 27.76.
Reflecting on the efficiency of the workforce at the company, Cree Inc. [CREE] managed to generate an average of -$37,368 per employee. Receivables Turnover for the company is 7.24 with a Total Asset Turnover recorded at a value of 0.30.Cree Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.90 and a Current Ratio set at 5.50.
Cree Inc. [CREE]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Cree Inc. posted -0.03/share EPS, while the average EPS was predicted by analysts to be reported at -0.05/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 40.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CREE.
An analysis of insider ownership at Cree Inc. [CREE]
There are presently around $7,015 million, or 97.91% of CREE stock, in the hands of institutional investors. The top three institutional holders of CREE stocks are: CAPITAL RESEARCH GLOBAL INVESTORS with ownership of 13,105,218, which is approximately -1.004% of the company’s market cap and around 0.70% of the total institutional ownership; BLACKROCK INC., holding 11,637,438 shares of the stock with an approximate value of $712.44 million in CREE stocks shares; and VANGUARD GROUP INC, currently with $624.1 million in CREE stock with ownership of nearly -0.765% of the company’s market capitalization.
Positions in Cree Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 162 institutional holders increased their position in Cree Inc. [NASDAQ:CREE] by around 18,050,147 shares. Additionally, 150 investors decreased positions by around 9,274,107 shares, while 44 investors held positions by with 87,258,376 shares. The mentioned changes placed institutional holdings at 114,582,630 shares, according to the latest SEC report filing. CREE stock had 62 new institutional investments in for a total of 10,752,658 shares, while 34 institutional investors sold positions of 1,219,258 shares during the same period.