How Will Wolfspeed Inc (NYSE: WOLF) Look After It Drops -160.62% From Its Highs?


During the last session, Wolfspeed Inc (NYSE:WOLF)’s traded shares were 4.27 million, with the beta value of the company hitting 1.65. At the end of the trading day, the stock’s price was $27.02, reflecting an intraday loss of -2.63% or -$0.73. The 52-week high for the WOLF share is $70.42, that puts it down -160.62 from that peak though still a striking 12.88% gain since the share price plummeted to a 52-week low of $23.54. The company’s market capitalization is $3.40B, and the average intraday trading volume over the past 10 days was 3.62 million shares, and the average trade volume was 4.79 million shares over the past three months.

Wolfspeed Inc (NYSE:WOLF) trade information

Wolfspeed Inc (WOLF) registered a -2.63% downside in the last session and has traded in the green over the past 5 sessions. The stock plummet -2.63% in intraday trading to $27.02, hitting a weekly high. The stock’s 5-day price performance is 0.33%, and it has moved by -1.60% in 30 days. Based on these gigs, the overall price performance for the year is -58.40%. The short interest in Wolfspeed Inc (NYSE:WOLF) is 19.64 million shares and it means that shorts have 4.47 day(s) to cover.

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Wolfspeed Inc (WOLF) estimates and forecasts

Statistics show that Wolfspeed Inc has underperformed its competitors in share price, compared to the industry in which it operates. Wolfspeed Inc (WOLF) shares have gone down -28.86% during the last six months, with a year-to-date growth rate less than the industry average at -62.07% against -45.90. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to shrink -392.30% this quarter and then drop -42.90% in the quarter after that. In the rating firms’ projections, revenue will decrease -9.60% compared to the previous financial year.

Revenue for the current quarter is expected to be $201.18 million as predicted by 14 analyst(s). Meanwhile, a consensus of 14 analyst(s) estimates revenue growth to $226.6 million by the end of Jun 2024.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 1.17%. While earnings are projected to return -234.71% in 2024.

WOLF Dividends

Wolfspeed Inc is due to release its next quarterly earnings between April 24 and April 29. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

Wolfspeed Inc (NYSE:WOLF)’s Major holders

Wolfspeed Inc insiders own 0.92% of total outstanding shares while institutional holders control 113.66%, with the float percentage being 114.71%. Blackrock Inc. is the largest shareholder of the company, while 570 institutions own stock in it. As of Jun 29, 2023, the company held over 17.32 million shares (or 13.83% of all shares), a total value of $962.77 million in shares.

The next largest institutional holding, with 15.71 million shares, is of Capital Research Global Investors’s that is approximately 12.54% of outstanding shares. At the market price on Jun 29, 2023, these shares were valued at $873.26 million.

Also, the Mutual Funds coming in first place with the largest holdings of Wolfspeed Inc (WOLF) shares are Growth Fund Of America Inc and Fundamental Investors Inc. Data provided on Jun 29, 2023 indicates that Growth Fund Of America Inc owns about 8.84 million shares. This amounts to just over 7.06 percent of the company’s overall shares, with a $491.32 million market value. The same data shows that the other fund manager holds slightly less at 5.86 million, or about 4.68% of the stock, which is worth about $325.63 million.