In the last trading session, 7.18 million shares of the Wolfspeed Inc (NYSE:WOLF) were traded, and its beta was 1.53. Most recently the company’s share price was $9.48, and it changed around $0.87 or 10.10% from the last close, which brings the market valuation of the company to $1.20B. WOLF currently trades at a discount to its 52-week high of $47.43, offering almost -400.32% off that amount. The share price’s 52-week low was $7.28, which indicates that the current value has risen by an impressive 23.21% since then. We note from Wolfspeed Inc’s average daily trading volume that its 10-day average is 9.07 million shares, with the 3-month average coming to 8.04 million.

Wolfspeed Inc stock received a consensus recommendation rating of Hold, based on a mean score of 2.70. If we narrow it down even further, the data shows that 2 out of 18 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 11 recommended WOLF as a Hold, whereas 5 deemed it a Buy, and 0 rated it as Underweight. Wolfspeed Inc is expected to report earnings per share of -1.02 for the current quarter.

Wolfspeed Inc (NYSE:WOLF) trade information

Instantly WOLF has showed a green trend with a performance of 10.10% at the end of last trading. The performance over the last five days has remained in the red territory. The rise to weekly highs of 10.20 on recent trading dayincreased the stock’s daily price by 7.06%. The company’s shares are currently down -78.21% year-to-date, but still down -6.88% over the last five days. On the other hand, Wolfspeed Inc (NYSE:WOLF) is 7.73% up in the 30-day period. We can see from the shorts that 35.15 million shares have been sold at a short interest cover period of 3.43 day(s).

The consensus price target as assigned by Wall Street analysts is $45, which translates to bulls needing to increase their stock price by 78.93% from its current value. Analyst projections state that WOLF is forecast to be at a low of $16 and a high of $115.

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 -63.97 percent over the past six months and at a -22.01% annual growth rate that is well below the industry average of -20.80%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will loss -92.50% in revenue this quarter, and will report a decrease of -65.50% in the next quarter. The year-over-year growth rate is expected to be 13.90%, up from the previous year.

Consensus estimates provided by 14 financial analysts predict the company will bring in an average of 200.39M in revenue for the current quarter. 14 analysts expect Wolfspeed Inc to make 214.85M in revenue for the current ending quarter.

Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -18.18%.

WOLF Dividends

Wolfspeed Inc’s next quarterly earnings report is expected to be released in November.

Wolfspeed Inc (NYSE:WOLF)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 1.04% of Wolfspeed Inc shares, and 112.55% of them are in the hands of institutional investors. The stock currently has a share float of 113.73%. Wolfspeed Inc stock is held by 491.0 institutions, with VANGUARD GROUP INC being the largest institutional investor. By 2024-06-30, it held 10.7473% of the shares, which is about 13.52 million shares worth $307.79 million.

BLACKROCK INC., with 10.5123% or 13.23 million shares worth $301.06 million as of 2024-06-30, holds the second largest percentage of outstanding shares.