Wolfspeed Inc. [NYSE: WOLF] stock went on a downward path that fall over -1.17% on Thursday, amounting to a one-week price increase of more than 5.10%. The company report on September 9, 2022 that Wolfspeed Selects North Carolina for World’s Largest Silicon Carbide Materials Facility.
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Wolfspeed to increase Materials capacity by more than 10x.
Silicon Carbide Materials manufacturing facility to be located in Chatham County, strategically located near existing Durham Materials factory.
Over the last 12 months, WOLF stock rose by 34.54%. The one-year Wolfspeed Inc. stock forecast points to a potential downside of -0.65. The average equity rating for WOLF stock is currently 2.40, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $14.19 billion, with 123.73 million shares outstanding and 123.35 million shares in the current float. Compared to the average trading volume of 2.05M shares, WOLF stock reached a trading volume of 2716332 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on Wolfspeed Inc. [WOLF]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for WOLF shares is $116.22 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on WOLF stock is a recommendation set at 2.40. 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.
Evercore ISI have made an estimate for Wolfspeed Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on September 13, 2022. While these analysts kept the previous recommendation, Cowen raised their target price from $100 to $125. The new note on the price target was released on August 18, 2022, representing the official price target for Wolfspeed Inc. stock. Previously, the target price had yet another drop from $125 to $108, while Goldman kept a Buy rating on WOLF stock.
The Average True Range (ATR) for Wolfspeed Inc. is set at 6.03, with the Price to Sales ratio for WOLF stock in the period of the last 12 months amounting to 19.01. The Price to Book ratio for the last quarter was 5.93, with the Price to Cash per share for the same quarter was set at 9.88.
WOLF Stock Performance Analysis:
Wolfspeed Inc. [WOLF] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 5.10. With this latest performance, WOLF shares gained by 32.04% in over the last four-week period, additionally plugging by 17.85% over the last 6 months – not to mention a rise of 34.54% 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 WOLF stock in for the last two-week period is set at 63.57, with the RSI for the last a single of trading hit 62.63, and the three-weeks RSI is set at 63.43 for Wolfspeed Inc. [WOLF]. The present Moving Average for the last 50 days of trading for this stock 93.77, while it was recorded at 116.07 for the last single week of trading, and 94.44 for the last 200 days.
Insight into Wolfspeed Inc. Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and Wolfspeed Inc. [WOLF] shares currently have an operating margin of -22.00 and a Gross Margin at +31.59. Wolfspeed Inc.’s Net Margin is presently recorded at -39.55.
Return on Equity for this stock declined to -12.95, with Return on Assets sitting at -8.01.
Wolfspeed Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.00 and a Current Ratio set at 4.50.
Wolfspeed Inc. [WOLF] Insider Position Details
There are presently around $15,251 million, in the hands of institutional investors. The top three institutional holders of WOLF stocks are: BLACKROCK INC. with ownership of 16,327,160, which is approximately -0.637% of the company’s market cap and around 0.80% of the total institutional ownership; CAPITAL RESEARCH GLOBAL INVESTORS, holding 13,700,979 shares of the stock with an approximate value of $1.6 billion in WOLF stocks shares; and CAPITAL INTERNATIONAL INVESTORS, currently with $1.41 billion in WOLF stock with ownership of nearly 1.181% of the company’s market capitalization.
Positions in Wolfspeed Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 213 institutional holders increased their position in Wolfspeed Inc. [NYSE:WOLF] by around 7,490,857 shares. Additionally, 218 investors decreased positions by around 7,267,822 shares, while 76 investors held positions by with 115,621,470 shares. The mentioned changes placed institutional holdings at 130,380,149 shares, according to the latest SEC report filing. WOLF stock had 68 new institutional investments in for a total of 2,837,378 shares, while 76 institutional investors sold positions of 2,361,993 shares during the same period.