For Wolfspeed Inc [WOLF], Analyst sees a rise to $46. What next?

Wolfspeed Inc [NYSE: WOLF] traded at a low on Wednesday, posting a -4.12 loss after which it closed the day’ session at $32.55. The company report on January 31, 2024 at 4:05 PM that Wolfspeed Reports Financial Results for the Second Quarter of Fiscal Year 2024.

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Year-over-year Revenue Growth of 20 Percent; Record Quarterly Design-Wins Totaling $2.9 Billion.

The results of the trading session contributed to over 5517402 shares changing hands. Over the past one week, the price volatility of Wolfspeed Inc stands at 5.34% while the volatility over the past one month is 5.82%.

The market cap for WOLF stock reached $4.08 billion, with 124.79 million shares outstanding and 122.66 million shares in the current float. Compared to the average trading volume of 3.91M shares, WOLF reached a trading volume of 5517402 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus 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 $43.68 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 2.25. 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 2.18, with the Price to Sales ratio for WOLF stock in the period of the last 12 months amounting to 4.65. The Price to Book ratio for the last quarter was 3.27, with the Price to Cash per share for the same quarter was set at 26.71.

How has WOLF stock performed recently?

Wolfspeed Inc [WOLF] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -9.38. With this latest performance, WOLF shares dropped by -25.19% in over the last four-week period, additionally sinking by -48.54% over the last 6 months – not to mention a drop of -55.87% 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 38.91, with the RSI for the last a single of trading hit 36.17, and the three-weeks RSI is set at 41.41 for Wolfspeed Inc [WOLF]. The present Moving Average for the last 50 days of trading for this stock 38.33, while it was recorded at 34.03 for the last single week of trading, and 44.88 for the last 200 days.

Wolfspeed Inc [WOLF]: Deeper insight into the fundamentals

Wolfspeed Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.98 and a Current Ratio set at 5.44.

Earnings analysis for Wolfspeed Inc [WOLF]

With the latest financial reports released by the company, Wolfspeed Inc posted -0.11/share EPS, while the average EPS was predicted by analysts to be reported at -0.12/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 8.30%. 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 WOLF.

Insider trade positions for Wolfspeed Inc [WOLF]

The top three institutional holders of WOLF stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in WOLF stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in WOLF stock with ownership which is approximately 5.8325%.