Wolfspeed Inc (NYSE:WOLF) price on Wednesday, December 04, fall -4.48% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $10.03.
A look at the stock’s price movement, the close in the last trading session was $10.50, moving within a range at $9.72 and $10.815. The beta value (5-Year monthly) was 1.461. Turning to its 52-week performance, $47.43 and $6.10 were the 52-week high and 52-week low respectively. Overall, WOLF moved -22.43% over the past month.
Wolfspeed Inc’s market cap currently stands at around $1.28 billion, with investors looking forward to this quarter’s earnings report slated for in January.
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 816.73M, representing a 1.18% 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 14.25% and -8.12% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 50.75, while 7-day volatility ratio is 10.54% and 13.50% in the 30-day chart. Further, Wolfspeed Inc (WOLF) has a beta value of 1.37, and an average true range (ATR) of 1.20. Analysts have given the company’s stock an average 52-week price target of $16, forecast between a low of $11 and high of $45. Looking at the price targets, the low is -9.67% off current price level while to achieve the yearly target high, price needs to move -348.65%. Nonetheless, investors will most likely welcome a -59.52% jump to $16 which is the analysts’ median price.
If we refocus on Wolfspeed Inc (NYSE:WOLF), historical trading data shows that trading volumes averaged 16.11 over the past 10 days and 13.41 million over the past 3 months. The company’s latest data on shares outstanding shows there are 126.89 million shares.
The 0.94% of Wolfspeed Inc’s shares are in the hands of company insiders while institutional holders own 125.46% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 37.27 million on 2024-11-15, giving us a short ratio of 2.26. The data shows that as of 2024-11-15 short interest in Wolfspeed Inc (WOLF) stood at 5288.0 of shares outstanding, with shares short falling to 37.32 million registered in 2024-10-15. Current price change has pushed the stock -76.95% 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.
