During the recent session, Wolfspeed Inc (NYSE:WOLF)’s traded shares were 1.38 million, with the beta value of the company hitting 1.38. At the last check today, the stock’s price was $7.97, reflecting an intraday loss of -1.30% or -$0.11. The 52-week high for the WOLF share is $47.43, that puts it down -495.11 from that peak though still a striking 23.46% gain since the share price plummeted to a 52-week low of $6.10. The company’s market capitalization is $1.02B, and the average intraday trading volume over the past 10 days was 10.88 million shares, and the average trade volume was 13.45 million shares over the past three months.
Wolfspeed Inc (WOLF) received a consensus recommendation of Buy from analysts. That translates to a mean rating of 2.89. WOLF has a Sell rating from 0 analyst(s) out of 11 analysts who have looked at this stock. 4 analyst(s) recommend to Hold the stock while 1 suggest Overweight, and 6 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -1.02.
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Wolfspeed Inc (NYSE:WOLF) trade information
Wolfspeed Inc (WOLF) registered a -1.30% downside in the last session and has traded in the red over the past 5 sessions. The stock plummet -1.30% in intraday trading to $7.97, hitting a weekly high. The stock’s 5-day price performance is -15.61%, and it has moved by -1.18% in 30 days. Based on these gigs, the overall price performance for the year is -80.23%. The short interest in Wolfspeed Inc (NYSE:WOLF) is 38.58 million shares and it means that shorts have 2.65 day(s) to cover.
The consensus price target of analysts on Wall Street is $16, which implies an increase of 50.19% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $9 and $22.5 respectively. As a result, WOLF is trading at a discount of -182.31% off the target high and -12.92% off the low.
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 -70.63% during the last six months, with a year-to-date growth rate less than the industry average at -31.27% against 4.30. In the rating firms’ projections, revenue will increase 1.18% compared to the previous financial year.
As companies strive to predict their financial trajectories, we turn our attention to the forthcoming financial quarter. Here are the insights gathered from industry analysts. Revenue for the current quarter is expected to be 182.16M as predicted by 14 analyst(s). Meanwhile, a consensus of 14 analyst(s) estimates revenue growth to 196.59M by the end of current fiscal year. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled 208.4M and 200.7M respectively. In this case, analysts expect current quarter sales to shrink by -12.59% and then drop by -2.05% in the coming quarter.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings shrunk an estimated -18.18%. While earnings are projected to return -38.13% in 2024.
WOLF Dividends
Wolfspeed Inc is due to release its next quarterly earnings in January. 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 1.07% of total outstanding shares while institutional holders control 114.59%, with the float percentage being 115.83%. VANGUARD GROUP INC is the largest shareholder of the company, while 462.0 institutions own stock in it. As of 2024-06-30, the company held over 13.52 million shares (or 10.7473% of all shares), a total value of $307.79 million in shares.
The next largest institutional holding, with 13.23 million shares, is of BLACKROCK INC.’s that is approximately 10.5123% of outstanding shares. At the market price on 2024-06-30, these shares were valued at $301.06 million.
Also, the Mutual Funds coming in first place with the largest holdings of Wolfspeed Inc (WOLF) shares are iShares Core S&P Smallcap ETF and Growth Fund of America Inc. Data provided on Sep 30, 2024 indicates that iShares Core S&P Smallcap ETF owns about 8.0 shares. This amounts to just over 6.26 percent of the company’s overall shares, with a $63.91 million market value. The same data shows that the other fund manager holds slightly less at 6.31, or about 4.94% of the stock, which is worth about $50.41 million.
