Wolfspeed Inc (NYSE:WOLF) price on Thursday, June 12, fall -5.59% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $1.35.
A look at the stock’s price movement, the close in the last trading session was $1.43. Turning to its 52-week performance, $30.86 and $0.82 were the 52-week high and 52-week low respectively. Overall, WOLF moved -65.12% over the past month.
Wolfspeed Inc’s market cap currently stands at around $210.10 million, with investors looking forward to this quarter’s earnings report slated for in July.
Analysts have a consensus estimate of 192.54M for the company’s revenue for the quarter, with a low and high estimate of 185.35M and 195.6M respectively. The average forecast suggests down to a -4.07% 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 753.65M, representing a -6.63% 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 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 -27.03% and -48.00% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 36.65, while 7-day volatility ratio is 5.63% and 22.52% in the 30-day chart. Further, Wolfspeed Inc (WOLF) has a beta value of 1.30, and an average true range (ATR) of 0.37. Analysts have given the company’s stock an average 52-week price target of $34, forecast between a low of $9 and high of $115. Looking at the price targets, the low is -566.67% off current price level while to achieve the yearly target high, price needs to move -8418.52%. Nonetheless, investors will most likely welcome a -2418.52% jump to $34 which is the analysts’ median price.
If we refocus on Wolfspeed Inc (NYSE:WOLF), historical trading data shows that trading volumes averaged 33.92 million over the past 3 months. The company’s latest data on shares outstanding shows there are 155.62 million shares.
The 1.05% of Wolfspeed Inc’s shares are in the hands of company insiders while institutional holders own 90.98% of the company’s shares. Current price change has pushed the stock -79.73% 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.
