Wolfspeed Inc. [WOLF] moved down -6.13: Why It’s Important

Wolfspeed Inc. [NYSE: WOLF] stock went on a downward path that fall over -6.13% on Wednesday, amounting to a one-week price increase of more than 12.72%.


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Over the last 12 months, WOLF stock dropped by -37.93%. The one-year Wolfspeed Inc. stock forecast points to a potential upside of 14.53. The average equity rating for WOLF stock is currently 2.10, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $10.53 billion, with 124.03 million shares outstanding and 123.33 million shares in the current float. Compared to the average trading volume of 3.02M shares, WOLF stock reached a trading volume of 5890886 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 $103.03 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 2.10. 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.

JP Morgan have made an estimate for Wolfspeed Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on October 24, 2022. While these analysts kept the previous recommendation, William Blair raised their target price to Outperform. The new note on the price target was released on October 17, 2022, representing the official price target for Wolfspeed Inc. stock. Previously, the target price had yet another raise to $140, while Canaccord Genuity analysts kept a Buy rating on WOLF stock.

The Average True Range (ATR) for Wolfspeed Inc. is set at 6.92, with the Price to Sales ratio for WOLF stock in the period of the last 12 months amounting to 12.67. The Price to Book ratio for the last quarter was 5.18, with the Price to Cash per share for the same quarter was set at 10.01.

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 12.72. With this latest performance, WOLF shares dropped by -15.80% in over the last four-week period, additionally plugging by 22.58% over the last 6 months – not to mention a drop of -37.93% 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 47.17, with the RSI for the last a single of trading hit 50.13, and the three-weeks RSI is set at 46.21 for Wolfspeed Inc. [WOLF]. The present Moving Average for the last 50 days of trading for this stock 101.65, while it was recorded at 90.24 for the last single week of trading, and 92.68 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 4.60.

Wolfspeed Inc. [WOLF] Insider Position Details

There are presently around $11,274 million, in the hands of institutional investors. The top three institutional holders of WOLF stocks are: BLACKROCK INC. with ownership of 16,533,966, which is approximately 1.267% of the company’s market cap and around 0.80% of the total institutional ownership; CAPITAL RESEARCH GLOBAL INVESTORS, holding 13,628,117 shares of the stock with an approximate value of $1.2 billion in WOLF stocks shares; and VANGUARD GROUP INC, currently with $1.02 billion in WOLF stock with ownership of nearly 0.648% of the company’s market capitalization.

Positions in Wolfspeed Inc. stocks held by institutional investors increased at the end of October and at the time of the October reporting period, where 293 institutional holders increased their position in Wolfspeed Inc. [NYSE:WOLF] by around 10,761,610 shares. Additionally, 191 investors decreased positions by around 12,541,112 shares, while 64 investors held positions by with 104,722,408 shares. The mentioned changes placed institutional holdings at 128,025,130 shares, according to the latest SEC report filing. WOLF stock had 124 new institutional investments in for a total of 4,662,618 shares, while 37 institutional investors sold positions of 1,005,386 shares during the same period.

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