Wolfspeed Inc. (NYSE:WOLF) has a beta value of 1.51 and has seen 3.67 million shares traded in the last trading session. The company, currently valued at $9.68B, closed the last trade at $81.61 per share which meant it lost -$4.11 on the day or -4.79% during that session. The WOLF stock price is -53.76% off its 52-week high price of $125.48 and 28.84% above the 52-week low of $58.07. If we look at the company’s 10-day average daily trading volume, we find that it stood at 2.19 million shares traded. The 3-month trading volume is 2.91 million shares.
The consensus among analysts is that Wolfspeed Inc. (WOLF) is an Overweight stock at the moment, with a recommendation rating of 2.20. 1 analysts rate the stock as a Sell, while 1 rate it as Overweight. 6 out of 21 have rated it as a Hold, with 12 advising it as a Buy. 1 have rated the stock as Underweight.
Wolfspeed Inc. (NYSE:WOLF) trade information
Sporting -4.79% in the red in last session, the stock has traded in the green over the last five days, with the highest price hit on Tuesday, 01/24/23 when the WOLF stock price touched $81.61 or saw a rise of 6.2%. Year-to-date, Wolfspeed Inc. shares have moved 18.21%, while the 5-day performance has seen it change 0.85%. Over the past 30 days, the shares of Wolfspeed Inc. (NYSE:WOLF) have changed 5.52%. Short interest in the company has seen 8.98 million shares shorted with days to cover at 3.72.
Wall Street analysts have a consensus price target for the stock at $96.47, which means that the shares’ value could jump 15.4% from current levels. The projected low price target is $65.00 while the price target rests at a high of $118.00. In that case, then, we find that the current price level is -44.59% off the targeted high while a plunge would see the stock lose 20.35% from current levels.
Wolfspeed Inc. (WOLF) estimates and forecasts
Figures show that Wolfspeed Inc. shares have outperformed across the wider relevant industry. The company’s shares have gained 5.99% over the past 6 months, with this year growth rate of 48.00%, compared to 3.80% for the industry. Other than that, the company has, however, increased its growth outlook for the 2023 fiscal year revenue. Growth estimates for the current quarter are 100.00% and 158.30% for the next quarter. Revenue growth from the last financial year stood is estimated to be 36.50%.
16 analysts offering their estimates for the company have set an average revenue estimate of $235.9 million for the current quarter. 16 have an estimated revenue figure of $255.9 million for the next quarter concluding in Mar 2023.
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 -19.80% over the past 5 years.
Wolfspeed Inc. is expected to release its next earnings report between January 24 and January 30 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.
Wolfspeed Inc. (NYSE:WOLF)’s Major holders
Insiders own 0.63% of the company shares, while shares held by institutions stand at 109.26% with a share float percentage of 109.95%. Investors are also buoyed by the number of investors in a company, with Wolfspeed Inc. having a total of 616 institutions that hold shares in the company. The top two institutional holders are Blackrock Inc. with over 16.33 million shares worth more than $1.04 billion. As of Jun 29, 2022, Blackrock Inc. held 13.15% of shares outstanding.
The other major institutional holder is Capital Research Global Investors, with the holding of over 13.7 million shares as of Jun 29, 2022. The firm’s total holdings are worth over $869.33 million and represent 11.03% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are Growth Fund Of America Inc and New World Fund, Inc. As of Sep 29, 2022, the former fund manager holds about 4.28% shares in the company for having 5.31 million shares of worth $549.2 million while later fund manager owns 4.68 million shares of worth $483.25 million as of Sep 29, 2022, which makes it owner of about 3.76% of company’s outstanding stock.