Wolfspeed Inc. [WOLF] moved down -4.79: Why It’s Important

Wolfspeed Inc. [NYSE: WOLF] plunged by -$4.11 during the normal trading session on Tuesday and reaching a high of $87.00 during the day while it closed the day at $81.61. The company report on January 18, 2023 that Wolfspeed, Inc. to Report Second Quarter Fiscal 2023 Earnings on January 25, 2023.

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Wolfspeed, Inc. (NYSE: WOLF), the global leader in Silicon Carbide technology, will conduct a conference call and audio webcast to discuss its second quarter fiscal 2023 results and business outlook on January 25, 2023, at 5:00 p.m. Eastern Time.

After the close of the market on January 25, and prior to the conference call, Wolfspeed will issue a copy of the earnings press release via Business Wire. The press release may also be viewed on Wolfspeed’s website at http://www.wolfspeed.com/.

Wolfspeed Inc. stock has also gained 0.85% of its value over the past 7 days. However, WOLF stock has declined by -22.84% in the 3 months of the year. Over the past six months meanwhile, it has gained 5.99% and gained 18.21% year-on date.

The market cap for WOLF stock reached $9.68 billion, with 124.03 million shares outstanding and 123.34 million shares in the current float. Compared to the average trading volume of 2.91M shares, WOLF reached a trading volume of 3673744 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about 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 $96.53 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 2.20. 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.

Susquehanna have made an estimate for Wolfspeed Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on December 12, 2022. While these analysts kept the previous recommendation, JP Morgan raised their target price from $130 to $160. The new note on the price target was released on October 24, 2022, representing the official price target for Wolfspeed Inc. stock.

The Average True Range (ATR) for Wolfspeed Inc. is set at 4.15, with the Price to Sales ratio for WOLF stock in the period of the last 12 months amounting to 11.65. The Price to Book ratio for the last quarter was 4.80, with the Price to Cash per share for the same quarter was set at 10.09.

WOLF stock trade performance evaluation

Wolfspeed Inc. [WOLF] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.85. With this latest performance, WOLF shares gained by 5.52% in over the last four-week period, additionally plugging by 5.99% over the last 6 months – not to mention a drop of -9.13% 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 55.41, with the RSI for the last a single of trading hit 58.23, and the three-weeks RSI is set at 52.39 for Wolfspeed Inc. [WOLF]. The present Moving Average for the last 50 days of trading for this stock 80.67, while it was recorded at 80.94 for the last single week of trading, and 87.88 for the last 200 days.

Wolfspeed Inc. [WOLF]: An insightful look at the core fundamentals

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 Ownership positions

There are presently around $10,195 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 $1.11 billion in WOLF stocks shares; and VANGUARD GROUP INC, currently with $947.82 million 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 January and at the time of the January reporting period, where 298 institutional holders increased their position in Wolfspeed Inc. [NYSE:WOLF] by around 10,496,162 shares. Additionally, 191 investors decreased positions by around 12,237,878 shares, while 62 investors held positions by with 102,192,940 shares. The mentioned changes placed institutional holdings at 124,926,980 shares, according to the latest SEC report filing. WOLF stock had 127 new institutional investments in for a total of 4,835,814 shares, while 47 institutional investors sold positions of 1,093,510 shares during the same period.


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