Wolfspeed (NYSE:WOLF) Trading Down 5.7% - Should You Sell?

Wolfspeed, Inc. (NYSE:WOLF - Get Free Report)'s share price was down 5.7% during trading on Tuesday . The company traded as low as $5.62 and last traded at $5.67. Approximately 997,317 shares changed hands during mid-day trading, a decline of 90% from the average daily volume of 10,491,790 shares. The stock had previously closed at $6.01.

Analyst Ratings Changes

WOLF has been the topic of several recent research reports. Susquehanna cut their price target on Wolfspeed from $11.00 to $7.00 and set a "neutral" rating on the stock in a report on Wednesday, January 22nd. Piper Sandler reduced their price target on shares of Wolfspeed from $18.00 to $10.00 and set an "overweight" rating for the company in a research report on Thursday, January 30th. The Goldman Sachs Group lowered their price objective on shares of Wolfspeed from $17.00 to $15.00 and set a "buy" rating on the stock in a report on Thursday, January 30th. StockNews.com upgraded shares of Wolfspeed to a "sell" rating in a report on Monday, January 6th. Finally, Canaccord Genuity Group lowered their target price on shares of Wolfspeed from $18.00 to $10.00 and set a "buy" rating on the stock in a report on Thursday, January 30th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $14.86.

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Wolfspeed Stock Up 1.4 %

The company's 50 day simple moving average is $5.91 and its 200-day simple moving average is $8.20. The company has a debt-to-equity ratio of 17.26, a quick ratio of 2.47 and a current ratio of 3.15. The firm has a market capitalization of $814.17 million, a PE ratio of -0.83 and a beta of 1.50.

Wolfspeed (NYSE:WOLF - Get Free Report) last issued its quarterly earnings data on Wednesday, January 29th. The company reported ($1.10) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.90) by ($0.20). Wolfspeed had a negative return on equity of 70.84% and a negative net margin of 125.96%. On average, analysts forecast that Wolfspeed, Inc. will post -4 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of WOLF. Jones Financial Companies Lllp increased its holdings in shares of Wolfspeed by 1,240.6% in the 4th quarter. Jones Financial Companies Lllp now owns 3,834 shares of the company's stock worth $26,000 after buying an additional 3,548 shares during the last quarter. R Squared Ltd purchased a new stake in Wolfspeed in the fourth quarter worth approximately $28,000. Steward Partners Investment Advisory LLC grew its position in Wolfspeed by 192.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,429 shares of the company's stock valued at $29,000 after acquiring an additional 2,912 shares during the last quarter. KBC Group NV raised its stake in shares of Wolfspeed by 76.5% during the fourth quarter. KBC Group NV now owns 6,064 shares of the company's stock worth $40,000 after acquiring an additional 2,629 shares in the last quarter. Finally, Allworth Financial LP lifted its holdings in shares of Wolfspeed by 38.1% in the 4th quarter. Allworth Financial LP now owns 7,060 shares of the company's stock worth $44,000 after acquiring an additional 1,949 shares during the last quarter.

Wolfspeed Company Profile

Wolfspeed, Inc operates as a powerhouse semiconductor company focuses on silicon carbide and gallium nitride (GaN) technologies in Europe, Hong Kong, China, rest of Asia-Pacific, the United States, and internationally. It offers silicon carbide and GaN materials, including silicon carbide bare wafers, epitaxial wafers, and GaN epitaxial layers on silicon carbide wafers to manufacture products for RF, power, and other applications.