Wolfspeed Inc (NYSE:WOLF) price on Thursday, December 26, rose 1.16% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $7.84.
A look at the stock’s price movement, the close in the last trading session was $7.75, moving within a range at $7.402 and $8.09. 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 -21.13% over the past month.
Wolfspeed Inc’s market cap currently stands at around $1.00 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 789.49M, representing a -2.19% decline 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 100% Sell. On the other hand, the stock is on average a 75% 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 -9.34% and -24.66% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 43.98, while 7-day volatility ratio is 9.79% and 10.82% in the 30-day chart. Further, Wolfspeed Inc (WOLF) has a beta value of 1.39, and an average true range (ATR) of 0.93. Analysts have given the company’s stock an average 52-week price target of $13.5, forecast between a low of $9 and high of $16. Looking at the price targets, the low is -14.8% off current price level while to achieve the yearly target high, price needs to move -104.08%. Nonetheless, investors will most likely welcome a -72.19% jump to $13.5 which is the analysts’ median price.
If we refocus on Wolfspeed Inc (NYSE:WOLF), historical trading data shows that trading volumes averaged 9.34 over the past 10 days and 13.15 million over the past 3 months. The company’s latest data on shares outstanding shows there are 126.89 million shares.
The 1.08% of Wolfspeed Inc’s shares are in the hands of company insiders while institutional holders own 112.01% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 38.58 million on 2024-11-29, giving us a short ratio of 2.65. The data shows that as of 2024-11-29 short interest in Wolfspeed Inc (WOLF) stood at 5474.0 of shares outstanding, with shares short rising to 36.28 million registered in 2024-10-31. Current price change has pushed the stock -81.98% 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.
