Wolfspeed Inc (NYSE:WOLF) price on Friday, November 15, fall -11.84% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $6.70.
A look at the stock’s price movement, the close in the last trading session was $7.60, moving within a range at $6.695 and $7.5393. The beta value (5-Year monthly) was 1.461. Turning to its 52-week performance, $47.43 and $7.28 were the 52-week high and 52-week low respectively. Overall, WOLF moved -58.67% over the past month.
Wolfspeed Inc’s market cap currently stands at around $855.68 million, with investors looking forward to this quarter’s earnings report slated for on 2025-Jan-29.
Analysts have a consensus estimate of 182.16M for the company’s revenue for the quarter, with a low and high estimate of 170M and 210.74M respectively. The average forecast suggests down to a -12.59% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 817.48M, representing a 1.27% jump on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that WOLF is a 50% Sell. On the other hand, the stock is on average a 100% Sell as suggested by medium term indicators while long term indicators are putting the stock in 100% Sell category.
11 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 4 analyst(s) rate the stock as a Hold, 6 recommend WOLF as a Buy and 1 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
WOLF’s current price about -45.45% and -38.04% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 30.47, while 7-day volatility ratio is 11.49% and 10.83% in the 30-day chart. Further, Wolfspeed Inc (WOLF) has a beta value of 1.38, and an average true range (ATR) of 1.34. Analysts have given the company’s stock an average 52-week price target of $41.5, forecast between a low of $11 and high of $115. Looking at the price targets, the low is -64.18% off current price level while to achieve the yearly target high, price needs to move -1616.42%. Nonetheless, investors will most likely welcome a -519.4% jump to $41.5 which is the analysts’ median price.
If we refocus on Wolfspeed Inc (NYSE:WOLF), historical trading data shows that trading volumes averaged 14.87 over the past 10 days and 12.40 million over the past 3 months. The company’s latest data on shares outstanding shows there are 127.71 million shares.
The 0.84% of Wolfspeed Inc’s shares are in the hands of company insiders while institutional holders own 124.95% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 36.28 million on 2024-10-31, giving us a short ratio of 2.7. The data shows that as of 2024-10-31 short interest in Wolfspeed Inc (WOLF) stood at 5209.0 of shares outstanding, with shares short falling to 39.0 million registered in 2024-09-30. Current price change has pushed the stock -84.60% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the WOLF stock continues to rise going into the next quarter.
