Wolfspeed Inc (NYSE:WOLF) has a beta value of 1.65 and has seen 0.53 million shares traded in the recent trading session. The company, currently valued at $3.19B, closed the recent trade at $25.33 per share which meant it lost -$0.75 on the day or -2.89% during that session. The WOLF stock price is -178.01% off its 52-week high price of $70.42 and 7.07% above the 52-week low of $23.54. If we look at the company’s 10-day average daily trading volume, we find that it stood at 4.3 million shares traded. The 3-month trading volume is 4.56 million shares.
Wolfspeed Inc (NYSE:WOLF) trade information
Sporting -2.89% in the red today, the stock has traded in the red over the last five days, when the WOLF stock price touched $25.33 or saw a rise of 14.14%. Year-to-date, Wolfspeed Inc shares have moved -41.79%, while the 5-day performance has seen it change -9.78%. Over the past 30 days, the shares of Wolfspeed Inc (NYSE:WOLF) have changed -9.62%. Short interest in the company has seen 19.72 million shares shorted with days to cover at 3.56.
Wolfspeed Inc (WOLF) estimates and forecasts
Figures show that Wolfspeed Inc shares have underperformed across the wider relevant industry. The company’s shares have lost -42.01% over the past 6 months, with this year growth rate of -62.07%, compared to -45.20% for the industry. Other than that, the company has, however, lowered its growth outlook for the 2024 fiscal year revenue. Growth estimates for the current quarter are -392.30% and -42.90% for the next quarter. Revenue growth from the last financial year stood is estimated to be -9.60%.
14 analysts offering their estimates for the company have set an average revenue estimate of $201.18 million for the current quarter. 14 have an estimated revenue figure of $226.6 million for the next quarter concluding in Jun 2024.
WOLF Dividends
Wolfspeed Inc is expected to release its next earnings report between April 24 and April 29 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 0.92% of the company shares, while shares held by institutions stand at 113.63% with a share float percentage of 114.69%. Investors are also buoyed by the number of investors in a company, with Wolfspeed Inc having a total of 574 institutions that hold shares in the company. The top two institutional holders are Blackrock Inc. with over 17.32 million shares worth more than $962.77 million. As of Jun 29, 2023, Blackrock Inc. held 13.83% of shares outstanding.
The other major institutional holder is Capital Research Global Investors, with the holding of over 15.71 million shares as of Jun 29, 2023. The firm’s total holdings are worth over $873.26 million and represent 12.54% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are Growth Fund Of America Inc and Fundamental Investors Inc. As of Jun 29, 2023, the former fund manager holds about 7.06% shares in the company for having 8.84 million shares of worth $491.32 million while later fund manager owns 5.86 million shares of worth $325.63 million as of Jun 29, 2023, which makes it owner of about 4.68% of company’s outstanding stock.
