In the last trading session, 19.2 million shares of the Wolfspeed Inc (NYSE:WOLF) were traded, and its beta was 1.50. Most recently the company’s share price was $5.33, and it changed around -$0.58 or -9.81% from the last close, which brings the market valuation of the company to $829.19M. WOLF currently trades at a discount to its 52-week high of $30.87, offering almost -479.17% off that amount. The share price’s 52-week low was $4.66, which indicates that the current value has risen by an impressive 12.57% since then. We note from Wolfspeed Inc’s average daily trading volume that its 10-day average is 17.37 million shares, with the 3-month average coming to 15.65 million.
Wolfspeed Inc stock received a consensus recommendation rating of Hold, based on a mean score of 2.84. If we narrow it down even further, the data shows that 1 out of 16 analysts rate the stock as a Sell; another 3 rate it as Overweight. Among the rest, 10 recommended WOLF as a Hold, whereas 0 deemed it a Buy, and 2 rated it as Underweight. Wolfspeed Inc is expected to report earnings per share of -0.82 for the current quarter.
Wolfspeed Inc (NYSE:WOLF) trade information
Instantly WOLF has showed a red trend with a performance of -9.81% 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 6.17 on recent trading dayincreased the stock’s daily price by 13.61%. The company’s shares are currently down -19.97% year-to-date, but still down -13.05% over the last five days. On the other hand, Wolfspeed Inc (NYSE:WOLF) is -24.61% down in the 30-day period. We can see from the shorts that 41.84 million shares have been sold at a short interest cover period of 2.74 day(s).
The consensus price target as assigned by Wall Street analysts is $13.5, which translates to bulls needing to increase their stock price by 60.52% from its current value. Analyst projections state that WOLF is forecast to be at a low of $9 and a high of $16.
Wolfspeed Inc (WOLF) estimates and forecasts
The year-over-year growth rate is expected to be -6.22%, down from the previous year.
Consensus estimates provided by 14 financial analysts predict the company will bring in an average of 185.94M in revenue for the current quarter. 14 analysts expect Wolfspeed Inc to make 194.91M in revenue for the current ending quarter. The company’s sales for the same quarters a year ago were 200.7M and 200.7M respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -7.36%. Forecasts for the next quarter put sales growth at -2.89%.
Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -18.18%. Wolfspeed Inc earnings are expected to increase by -31.05% in 2025, but the outlook is positive 28.66% per year for the next five years.
WOLF Dividends
Wolfspeed Inc’s next quarterly earnings report is expected to be released in March.
Wolfspeed Inc (NYSE:WOLF)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 0.88% of Wolfspeed Inc shares, and 93.80% of them are in the hands of institutional investors. The stock currently has a share float of 94.63%. Wolfspeed Inc stock is held by 444.0 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.
iShares Core S&P Smallcap ETF and Price (T.Rowe) Mid-Cap Value Fund were the top two Mutual Funds as of Nov 30, 2024 . The former held 8.14 shares worth $43.39 million, making up 6.37% of all outstanding shares. On the other hand, Price (T.Rowe) Mid-Cap Value Fund held roughly 4.56 shares worth around $24.33 million, which represents about 3.57% of the total shares outstanding.
