Wolfspeed Inc (NYSE:WOLF) has a beta value of 1.38 and has seen 8.97 million shares traded in the last trading session. The company, currently valued at $1.08B, closed the last trade at $8.25 per share which meant it gained $0.17 on the day or 2.10% during that session. The WOLF stock price is -474.91% off its 52-week high price of $47.43 and 26.06% above the 52-week low of $6.10. If we look at the company’s 10-day average daily trading volume, we find that it stood at 11.03 million shares traded. The 3-month trading volume is 13.45 million shares.
The consensus among analysts is that Wolfspeed Inc (WOLF) is Buy stock at the moment, with a recommendation rating of 2.89. 0 analysts rate the stock as a Sell, while 1 rate it as Overweight. 4 out of 11 have rated it as a Hold, with 6 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is -1.02.
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Wolfspeed Inc (NYSE:WOLF) trade information
Sporting 2.10% in the green in last session, the stock has traded in the red over the last five days, with the highest price hit on recent trading when the WOLF stock price touched $8.25 or saw a rise of 26.34%. Year-to-date, Wolfspeed Inc shares have moved -81.04%, while the 5-day performance has seen it change -12.70%. Over the past 30 days, the shares of Wolfspeed Inc (NYSE:WOLF) have changed 2.23%. Short interest in the company has seen 38.58 million shares shorted with days to cover at 2.65.
Wall Street analysts have a consensus price target for the stock at $16, which means that the shares’ value could jump 48.44% from current levels. The projected low price target is $9.0 while the price target rests at a high of $22.5. In that case, then, we find that the current price level is -172.73% off the targeted high while a plunge would see the stock gain -9.09% from current levels.
Wolfspeed Inc (WOLF) estimates and forecasts
Figures show that Wolfspeed Inc shares have underperformed across the wider relevant industry. The company’s shares have lost -69.61% over the past 6 months, with this year growth rate of -31.27%, compared to 4.30% for the industry. Revenue growth from the last financial year stood is estimated to be 1.18%.
14 analysts offering their estimates for the company have set an average revenue estimate of 182.16M for the current quarter. 14 have an estimated revenue figure of 196.59M for the next ending quarter. Year-ago sales stood 208.4M and 200.7M respectively for this quarter and the next, and analysts expect sales will shrink by -12.59% for the current quarter and 1.18% for the next.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was -18.18% over the past 5 years.
WOLF Dividends
Wolfspeed Inc is expected to release its next earnings report in January this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.
Wolfspeed Inc (NYSE:WOLF)’s Major holders
Insiders own 1.07% of the company shares, while shares held by institutions stand at 114.46% with a share float percentage of 115.70%. Investors are also buoyed by the number of investors in a company, with Wolfspeed Inc having a total of 460.0 institutions that hold shares in the company. The top two institutional holders are VANGUARD GROUP INC with over 13.52 million shares worth more than $307.79 million. As of 2024-06-30, VANGUARD GROUP INC held 10.7473% of shares outstanding.
The other major institutional holder is BLACKROCK INC., with the holding of over 13.23 million shares as of 2024-06-30. The firm’s total holdings are worth over $301.06 million and represent 10.5123% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are iShares Core S&P Smallcap ETF and Growth Fund of America Inc . As of Sep 30, 2024 , the former fund manager holds about 6.26% shares in the company for having 8.0 shares of worth $65.99 million while later fund manager owns 6.31 shares of worth $52.05 million as of Sep 30, 2024 , which makes it owner of about 4.94% of company’s outstanding stock.
