Cree, Inc. (NASDAQ:CREE) has a beta value of 1.49 and has seen 1,696,540 shares traded in the last trading session. The company, currently valued at $13.3 Billion, closed the last trade at $120.54 per share which meant it gained $3.17 on the day or 2.7% during that session. The CREE stock price is -2.39% off its 52-week high price of $123.42 and 76.96% above the 52-week low of $27.77. If we look at the company’s 10-day average daily trading volume, we find that it stood at 2.41 Million shares traded. The 3-month trading volume is 1.59 Million shares.
The consensus among analysts is that Cree, Inc. (CREE) is a Hold stock at the moment, with a recommendation rating of 2.9. 1 analysts rate the stock as a Sell, while none rate it as Overweight. 13 out of 15 have rated it as a Hold, with 1 advising it as a Buy. None have rated the stock as Underweight. The expected earnings per share for the stock is -$0.25.
Cree, Inc. (NASDAQ:CREE) trade information
Sporting 2.7% in the green in last session, the stock has traded in the green over the last five days, with the highest price hit on Tuesday, Jan 12 when the CREE stock price touched $123.42 or saw a rise of 2.33%. Year-to-date, Cree, Inc. shares have moved 13.82%, while the 5-day performance has seen it change 12.68%. Over the past 30 days, the shares of Cree, Inc. (NASDAQ:CREE) have changed 29.89%. Short interest in the company has seen 13.5 Million shares shorted with days to cover at 8.49.
Wall Street analysts have a consensus price target for the stock at $74.77, which means that the shares’ value could jump -37.97% from current levels. The projected low price target is $50 while the price target rests at a high of $108. In that case, then, we find that the current price level is -10.4% off the targeted high while a plunge would see the stock lose -58.52% from current levels.
Cree, Inc. (CREE) estimates and forecasts
Figures show that Cree, Inc. shares have outperformed across the wider relevant industry. The company’s shares have gained +87.35% over the past 6 months, with this year growth rate of 82.22%, compared to -17.4% for the industry. Other than that, the company has, however, lowered its growth outlook for the 2021 fiscal year revenue. Growth estimates for the current quarter are -150% and -42.9% for the next quarter. Revenue growth from the last financial year stood is estimated to be -29.9%.
10 analysts offering their estimates for the company have set an average revenue estimate of $121.6 Million for the current quarter. 10 have an estimated revenue figure of $128.54 Million for the next quarter concluding in March 01, 2021. Year-ago sales stood $236.38 Million and $215.5 Million respectively for this quarter and the next, and analysts expect sales will grow by -48.6% for the current quarter and -40.4% for the next.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was -25.4% over the past 5 years. Earnings growth for 2021 is a modest -217.7%.
Cree, Inc. (NASDAQ:CREE)’s Major holders
Insiders own 0.5% of the company shares, while shares held by institutions stand at 112.54% with a share float percentage of 113.11%. Investors are also buoyed by the number of investors in a company, with Cree, Inc. having a total of 467 institutions that hold shares in the company. The top two institutional holders are Capital Research Global Investors with over 13.44 Million shares worth more than $856.41 Million. As of September 29, 2020, Capital Research Global Investors held 12.18% of shares outstanding.
The other major institutional holder is Blackrock Inc., with the holding of over 13.03 Million shares as of September 29, 2020. The firm’s total holdings are worth over $830.28 Million and represent 11.81% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are Smallcap World Fund and Legg Mason Clearbridge Aggressive Growth Fd. As of September 29, 2020, the former fund manager holds about 4.96% shares in the company for having 5472938 shares of worth $348.85 Million while later fund manager owns 3.53 Million shares of worth $224.72 Million as of September 29, 2020, which makes it owner of about 3.2% of company’s outstanding stock.
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