Jefferies slashes price target on Wolfspeed Inc. [WOLF] – find out why.

Wolfspeed Inc. [NYSE: WOLF] plunged by -$0.47 during the normal trading session on Thursday and reaching a high of $43.28 during the day while it closed the day at $43.07. The company report on August 29, 2023 at 8:00 AM that Wolfspeed To Participate in Upcoming Investor Conferences.

Wolfspeed, Inc. (NYSE: WOLF), the global leader in silicon carbide technology, today announced that Gregg Lowe, chief executive officer, will be participating in fireside chats at two upcoming investor conferences in September:.

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2023 Citi Global Technology and GEMS Conference at 1:45 pm ET on September 6, 2023.

Wolfspeed Inc. stock has also loss -9.52% of its value over the past 7 days. However, WOLF stock has declined by -16.50% in the 3 months of the year. Over the past six months meanwhile, it has lost -38.60% and lost -37.62% year-on date.

The market cap for WOLF stock reached $5.62 billion, with 124.68 million shares outstanding and 124.41 million shares in the current float. Compared to the average trading volume of 2.89M shares, WOLF reached a trading volume of 3246066 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 $60.28 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 2.60. 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.

Jefferies have made an estimate for Wolfspeed Inc. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on May 18, 2023.

The Average True Range (ATR) for Wolfspeed Inc. is set at 2.55, with the Price to Sales ratio for WOLF stock in the period of the last 12 months amounting to 6.09. The Price to Book ratio for the last quarter was 3.31, with the Price to Cash per share for the same quarter was set at 22.66.

WOLF stock trade performance evaluation

Wolfspeed Inc. [WOLF] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -9.52. With this latest performance, WOLF shares dropped by -25.26% in over the last four-week period, additionally sinking by -38.60% over the last 6 months – not to mention a drop of -60.52% 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 33.60, with the RSI for the last a single of trading hit 30.70, and the three-weeks RSI is set at 36.49 for Wolfspeed Inc. [WOLF]. The present Moving Average for the last 50 days of trading for this stock 56.27, while it was recorded at 45.16 for the last single week of trading, and 63.42 for the last 200 days.

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

Operating Margin for any stock indicates how profitable investing would be, and Wolfspeed Inc. [WOLF] shares currently have an operating margin of -21.21 and a Gross Margin at +29.14. Wolfspeed Inc.’s Net Margin is presently recorded at -35.78.

Return on Equity for this stock declined to -16.25, with Return on Assets sitting at -6.28.

Wolfspeed Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 5.20 and a Current Ratio set at 5.70.

Wolfspeed Inc. [WOLF]: Institutional Ownership

The top three institutional holders of WOLF stocks are: VANGUARD GROUP INC with ownership of 1.31 billion shares, which is approximately 8.2089%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $170.67 trillion in WOLF stocks shares; and BERKSHIRE HATHAWAY INC, currently with $150.98 trillion in WOLF stock with ownership which is approximately 5.7381%.

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