In the latest trading session, 6.1 million Wolfspeed Inc (NYSE:WOLF) shares changed hands as the company’s beta touched 1.46. With the company’s most recent per share price at $4.91 changed hands at -$0.17 or -3.44% at last look, the market valuation stands at $626.43M. WOLF’s current price is a discount, trading about -659.47% off its 52-week high of $37.29. The share price had its 52-week low at $5.05, which suggests the last value was -2.85% down since then. When we look at Wolfspeed Inc’s average trading volume, we note the 10-day average is 15.82 million shares, with the 3-month average coming to 14.58 million.
Analysts gave the Wolfspeed Inc (WOLF) stock a consensus recommendation rating of Buy, calculated at a mean rating of 2.76. 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. Wolfspeed Inc’s EPS for the current quarter is expected to be -1.0.
Wolfspeed Inc (NYSE:WOLF) trade information
Instantly WOLF was in red as seen in intraday trades today. With action -31.59%, the performance over the past five days has been red. The company’s shares are showing year-to-date downside of -26.35%, with the 5-day performance at -31.59% in the red. However, in the 30-day time frame, Wolfspeed Inc (NYSE:WOLF) is -44.76% down. Looking at the short shares, we see there were 38.08 million shares sold at short interest cover period of 2.86 days.
The consensus price target for the stock as assigned by Wall Street analysts is 13.5, meaning bulls need an upside of 63.63% from its recent market value. According to analyst projections, WOLF’s forecast low is 9 with 16 as the target high. To hit the forecast high, the stock’s price needs a -225.87% plunge from its current level, while the stock would need to soar -83.3% 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 -80.20% over the past 6 months, a -33.59% in annual growth rate that is considerably lower than the industry average of 3.10%. Year-over-year growth is forecast to reach -2.26% down from the last financial year.
Consensus estimates given by 13 financial analysts project the company’s revenue in the current quarter to hit an average of 179.89M. 13 analysts are of the opinion that Wolfspeed Inc’s revenue for the current quarter will be 193.56M. The company’s revenue for the corresponding quarters a year ago was 208.4M and 200.7M respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -13.68%. The estimates for the next quarter sales put growth at -3.56%.
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 2025 estimates are for Wolfspeed Inc earnings to decrease by -36.45%.
WOLF Dividends
Wolfspeed Inc is expected to release its next quarterly earnings report in February.
Wolfspeed Inc (NYSE:WOLF)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 1.07% of Wolfspeed Inc shares while 114.51% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 115.76%. There are 114.51% 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 Oct 31, 2024 were iShares Core S&P Smallcap ETF and Growth Fund of America Inc. With 8.03 shares estimated at $39.64 million under it, the former controlled 6.29% of total outstanding shares. On the other hand, Growth Fund of America Inc held about 4.94% of the shares, roughly 6.31 shares worth around $31.13 million.
