In recent trading session, Wolfspeed Inc. (NYSE:WOLF) saw 1.73 million shares changing hands at last check today with its beta currently measuring 1.56. Company’s recent per share price level of $109.87 trading at -$10.26 or -8.54% at last check today assigns it a market valuation of $14.51B. That most recent trading price of WOLF’s stock is at a discount of -29.54% from its 52-week high price of $142.33 and is indicating a premium of 47.15% from its 52-week low price of $58.07. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 2.24 million shares which gives us an average trading volume of 2.08 million if we extend that period to 3-months.
For Wolfspeed Inc. (WOLF), analysts’ consensus is at an average recommendation of an Overweight while assigning it a mean rating of 2.40. Splitting up the data highlights that, out of 20 analysts covering the stock, 1 rated the stock as a Sell while 1 recommended an Overweight rating for the stock. 5 suggested the stock as a Hold whereas 12 see the stock as a Buy. 1 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of -$0.1 in the current quarter.
Wolfspeed Inc. (NYSE:WOLF) trade information
Upright in the red during last session for losing -8.54%, in the last five days WOLF remained trading in the green while hitting it’s week-highest on Wednesday, 09/21/22 when the stock touched $109.87 price level, adding 12.44% to its value on the day. Wolfspeed Inc.’s shares saw a change of 7.48% in year-to-date performance and have moved 1.50% in past 5-day. Wolfspeed Inc. (NYSE:WOLF) showed a performance of 12.17% in past 30-days. Number of shares sold short was 10.11 million shares which calculate 5.92 days to cover the short interests.
Wall Street analysts have assigned a consensus price target of $119.45 to the stock, which implies a rise of 8.02% to its recent value today. Analysts have been projecting $86.50 as a low price target for the stock while placing it at a high target of $155.00. It follows that stock’s current price would drop -41.08% in reaching the projected high whereas dropping to the targeted low would mean a gain of 21.27% for stock’s current value.
Wolfspeed Inc. (WOLF) estimates and forecasts
Statistics highlight that Wolfspeed Inc. is scoring comparatively higher than the scores of other players of the relevant industry. The company added 15.07% of value to its shares in past 6 months, showing an annual growth rate of 126.00% while that of industry is 24.00. Apart from that, the company came raising its revenue forecast for fiscal year 2022. The company is estimating its revenue growth to increase by 56.50% in the current quarter and calculating 66.70% increase in the next quarter. This year revenue growth is estimated to rise 38.00% from the last financial year’s standing.
13 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $207.87 million for the same. And 12 analysts are in estimates of company making revenue of $225.95 million in the next quarter that will end on Sep 2022.
Weighing up company’s earnings over the past 5-year and in the next 5-year periods, we find the company posting an annual earnings growth rate of -19.80% during past 5 years.
Wolfspeed Inc. is more likely to be releasing its next quarterly report between January 25 and January 31 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.
Wolfspeed Inc. (NYSE:WOLF)’s Major holders
Insiders are in possession of 0.56% of company’s total shares while institution are holding 108.90 percent of that, with stock having share float percentage of 109.52%. Investors also watch the number of corporate investors in a company very closely, which is 108.90% institutions for Wolfspeed Inc. that are currently holding shares of the company. Blackrock Inc. is the top institutional holder at WOLF for having 16.43 million shares of worth $1.87 billion. And as of Mar 30, 2022, it was holding 13.29% of the company’s outstanding shares.
The second largest institutional holder is Capital Research Global Investors, which was holding about 13.85 million shares on Mar 30, 2022. The number of shares represents firm’s hold over 11.20% of outstanding shares, having a total worth of $1.58 billion.
On the other hand, Growth Fund Of America Inc and New World Fund, Inc. are the top two Mutual Funds which own company’s shares. As of Jun 29, 2022, the former fund manager was holding 5.33 million shares of worth $338.42 million or 4.31% of the total outstanding shares. The later fund manager was in possession of 4.92 million shares on Jun 29, 2022, making its stake of worth around $312.04 million in the company or a holder of 3.98% of company’s stock.