Wolfspeed Inc (NYSE: WOLF): How It Has Performed & Trended

In the last trading session, 14.52 million shares of the Wolfspeed Inc (NYSE:WOLF) were traded, and its beta was 1.70. Most recently the company’s share price was $23.94, and it changed around $1.76 or 7.94% from the last close, which brings the market valuation of the company to $3.01B. WOLF currently trades at a discount to its 52-week high of $70.42, offering almost -194.15% off that amount. The share price’s 52-week low was $22.16, which indicates that the current value has risen by an impressive 7.44% since then. We note from Wolfspeed Inc’s average daily trading volume that its 3-month average coming to 4.67 million.

Wolfspeed Inc (NYSE:WOLF) trade information

Instantly WOLF has showed a green trend with a performance of 7.94% at the end of last trading. The performance over the last five days has remained in the red territory. The company’s shares are currently down -44.98% year-to-date, but still down -6.30% over the last five days. On the other hand, Wolfspeed Inc (NYSE:WOLF) is -14.44% down in the 30-day period.

The consensus price target as assigned by Wall Street analysts is $80.58, which translates to bulls needing to increase their stock price by 70.29% from its current value. Analyst projections state that WOLF is forecast to be at a low of $30 and a high of $130.

Wolfspeed Inc (WOLF) estimates and forecasts

Wolfspeed Inc share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -29.59 percent over the past six months and at a -62.07% annual growth rate that is well below the industry average of -46.10%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will loss -392.30% in revenue this quarter, and will report a decrease of -45.20% in the next quarter. The year-over-year growth rate is expected to be -9.60%, down from the previous year.

Consensus estimates provided by 15 financial analysts predict the company will bring in an average of $201.11 million in revenue for the current quarter. 15 analysts expect Wolfspeed Inc to make $225.83 million in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were -$ and $235.8 million respectively. Forecasts for the next quarter put sales growth at -4.20%.

Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 1.17%.