Cree, Inc. (NASDAQ:CREE) traded at $82.1 at last check on Friday, Nov 20, making an upward move of 1.36% on its previous day’s price.
Looking at the stock we see that its previous close was $81 and the beta (5Y monthly) reads 1.15 with the day’s price range being $80.77 – 84.79. The company has a 12-month trailing PE ratio of 0. In terms of its 52-week price range, CREE has a high of $81.01 and a low of $27.77. The company’s stock has gained about 14.17% over that past 30 days.
Cree, has a market cap of $8.91 Billion and is expected to release its quarterly earnings report on Jan 27, 2021- Feb 01, 2021. With its Forward Dividend at 0 and a yield of 0%, the company’s investors could be worried for the CREE stock to lose ahead of the earnings release. Estimates by analysts give the company expected earnings per share (EPS) of -$0.25, with the EPS growth for the year declined at -$0.81 for 2020 and -$0.32 for next year. These figures represent 0.8% and at -0.6% growth in EPS for the two years respectively.
Analysts tracking the company’s growth have also given it a consensus growth in revenue estimated at $121.6 Million, with a low of $121Million and a high of $122.7 Million. The median projection represents growth adding up to -48.6% compared to sales earnings for the corresponding quarter a year ago. According to analyst consensus estimates figures, the company’s yearly revenue forecasts for 2020 are expected to hit $605Million, or -33.1% down from figures reported last year.
On the other hand, looking at the outlook for the CREE stock, short term indicators assign the stock an average of 100% Buy, while medium term indicators assign it an average of 100% Buy. Long term indicators on average place the stock in the category of 100% Buy.
Based on estimates by 14 analysts where scores have ranged from 1.00 for a strong buy to 5.00 for a strong sell, 10 have rated the Cree, Inc. (CREE) stock as a Hold, while 3 rate it as a Buy. None analysts rate it as outperform while none of them rated it as underperform, whereas 1 suggests the stock as a Sell. The stock has an overall rating of Hold and investors could take advantage and scoop up stock of the company.
Looking further, we note that the PEG ratio for the CREE stock currently stands at 0, and the current price level is 19.89% off its SMA20 and 22.66% from its 50-day simple moving average. The RSI (14) is pointing at 73.56 while the volatility over the past week is 4.65% and jumps to 4.91% over the past one month. The beta value is 1.15, while the average true range (ATR) is currently pointing at 3.48. The average price target for the stock over the next 12 months is $69.33, with the estimates having a low of $50 and a high of $90. These price ends are -39.1% and +9.62% off the current price level respectively, although investors could be excited at the prospect of a -15.96% if the CREE share price touches on the median price of $69.
Coming back to Cree, Inc. (NASDAQ:CREE), we note that the average 3-month trading volume was 1.12 Million, while that of the preceding 10-day period stands at 1.4 Million. Current shares outstanding are 109.72 Million.
According to data from Thomson Reuters, insiders hold 0.51% of the company’s shares while institutions hold 112.36%. The data shows that short shares as of October 29, 2020, stood at 12.38 Million at a short ratio of 11.85. This represents a 11.22% Short interest in Shares outstanding on October 29, 2020. Shares short dropped in October from the previous month at 13.29 Million. Investors should be excited about this stock as its upside potential is great, with today’s price pushing the stock +77.9% up in year-to-date price movement.