In the last trading session, 18.07 million Wolfspeed Inc (NYSE:WOLF) shares changed hands as the company’s beta touched 1.52. With the company’s per share price at $16.01 changed hands at -$0.2 or -1.23% during last session, the market valuation stood at $2.03B. WOLF’s last price was a discount, traded about -196.25% off its 52-week high of $47.43. The share price had its 52-week low at $7.28, which suggests the last value was 54.53% up since then. When we look at Wolfspeed Inc’s average trading volume, we note the 10-day average is 19.78 million shares, with the 3-month average coming to 10.39 million.
Analysts gave the Wolfspeed Inc (WOLF) stock a consensus recommendation rating of Buy, calculated at a mean rating of 2.70. If we narrow down to specifics, the data shows that 0 out of 11 analysts rate the stock as a Sell, with a further 1 assigning it an Overweight rating. Of the remaining, 4 recommended WOLF as a Hold, 6 felt it is a Buy and 0 rated the stock as Underweight.
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Wolfspeed Inc (NYSE:WOLF) trade information
Instantly WOLF was in red as seen at the end of in last trading. With action 39.46%, the performance over the past five days has been green. The company’s shares are showing year-to-date downside of -63.20%, with the 5-day performance at 39.46% in the green. However, in the 30-day time frame, Wolfspeed Inc (NYSE:WOLF) is 81.73% up. Looking at the short shares, we see there were 39.0 million shares sold at short interest cover period of 3.51 days.
The consensus price target for the stock as assigned by Wall Street analysts is 41.5, meaning bulls need an upside of 61.42% from its current market value. According to analyst projections, WOLF’s forecast low is 9.5 with 115 as the target high. To hit the forecast high, the stock’s price needs a -618.3% plunge from its current level, while the stock would need to tank 40.66% for it to hit the projected low.
Wolfspeed Inc (WOLF) estimates and forecasts
Data shows that the Wolfspeed Inc share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -27.82% over the past 6 months, a -26.25% in annual growth rate that is considerably lower than the industry average of -19.50%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -18.18%. The 2024 estimates are for Wolfspeed Inc earnings to decrease by -31.57%.
WOLF Dividends
Wolfspeed Inc is expected to release its next quarterly earnings report on 2024-Oct-28.
Wolfspeed Inc (NYSE:WOLF)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 0.86% of Wolfspeed Inc shares while 114.32% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 115.32%. There are 114.32% institutions holding the Wolfspeed Inc stock share, with VANGUARD GROUP INC the top institutional holder. As of 2024-06-30, the company held 10.7473% of the shares, roughly 13.52 million WOLF shares worth $307.79 million.
BLACKROCK INC. holds the second largest percentage of outstanding shares, with 10.5123% or 13.23 million shares worth $301.06 million as of 2024-06-30.
Among Mutual Funds, the top two as of Sep 30, 2024 were iShares Core S&P Smallcap ETF and Growth Fund Of America Inc . With 8.02 shares estimated at $128.45 million under it, the former controlled 6.32% of total outstanding shares. On the other hand, Growth Fund Of America Inc held about 4.97% of the shares, roughly 6.31 shares worth around $101.0 million.
