Wolfspeed, Inc. (NYSE:WOLF - Get Free Report) shares shot up 8.4% during mid-day trading on Friday . The stock traded as high as $6.28 and last traded at $6.23. 14,624,243 shares changed hands during trading, an increase of 37% from the average session volume of 10,646,914 shares. The stock had previously closed at $5.74.
Analyst Upgrades and Downgrades
Several analysts recently issued reports on WOLF shares. Piper Sandler reduced their price target on shares of Wolfspeed from $18.00 to $10.00 and set an "overweight" rating on the stock in a research report on Thursday, January 30th. Susquehanna decreased their price target on Wolfspeed from $11.00 to $7.00 and set a "neutral" rating on the stock in a research note on Wednesday, January 22nd. The Goldman Sachs Group dropped their price objective on Wolfspeed from $17.00 to $15.00 and set a "buy" rating for the company in a research report on Thursday, January 30th. Canaccord Genuity Group decreased their target price on Wolfspeed from $18.00 to $10.00 and set a "buy" rating on the stock in a research report on Thursday, January 30th. Finally, Bank of America dropped their target price on shares of Wolfspeed from $9.50 to $6.00 and set an "underperform" rating for the company in a report on Thursday, January 30th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Wolfspeed presently has a consensus rating of "Hold" and an average price target of $14.86.
View Our Latest Report on WOLF
Wolfspeed Trading Down 1.3 %
The firm has a 50-day moving average of $5.91 and a 200 day moving average of $8.20. The company has a market cap of $807.78 million, a P/E ratio of -0.83 and a beta of 1.50. The company has a current ratio of 3.15, a quick ratio of 2.47 and a debt-to-equity ratio of 17.26.
Wolfspeed (NYSE:WOLF - Get Free Report) last posted its quarterly earnings results 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 predict that Wolfspeed, Inc. will post -4 earnings per share for the current fiscal year.
Institutional Trading of Wolfspeed
Hedge funds and other institutional investors have recently bought and sold shares of the business. American Trust bought a new stake in shares of Wolfspeed during the fourth quarter worth about $68,000. PharVision Advisers LLC bought a new position in Wolfspeed during the 4th quarter valued at $72,000. Voloridge Investment Management LLC boosted its holdings in Wolfspeed by 0.7% during the 4th quarter. Voloridge Investment Management LLC now owns 1,915,695 shares of the company's stock worth $12,759,000 after acquiring an additional 12,660 shares during the last quarter. Wexford Capital LP bought a new stake in shares of Wolfspeed in the 4th quarter worth $83,000. Finally, Raiffeisen Bank International AG purchased a new stake in shares of Wolfspeed in the fourth quarter valued at about $1,782,000.
About Wolfspeed
(
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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.
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