288,894 Shares in Wolfspeed, Inc. (NYSE:WOLF) Acquired by Yaupon Capital Management LP

Yaupon Capital Management LP bought a new stake in Wolfspeed, Inc. (NYSE:WOLF - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 288,894 shares of the company's stock, valued at approximately $1,924,000. Yaupon Capital Management LP owned 0.23% of Wolfspeed as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Virtu Financial LLC lifted its position in Wolfspeed by 160.8% in the third quarter. Virtu Financial LLC now owns 58,560 shares of the company's stock valued at $568,000 after buying an additional 36,105 shares during the last quarter. Principal Financial Group Inc. increased its stake in Wolfspeed by 41.4% during the third quarter. Principal Financial Group Inc. now owns 592,599 shares of the company's stock worth $5,748,000 after purchasing an additional 173,409 shares during the period. GAMMA Investing LLC lifted its position in shares of Wolfspeed by 66.6% during the fourth quarter. GAMMA Investing LLC now owns 7,569 shares of the company's stock worth $50,000 after purchasing an additional 3,025 shares in the last quarter. Arkadios Wealth Advisors acquired a new position in shares of Wolfspeed in the fourth quarter valued at approximately $67,000. Finally, SG Americas Securities LLC grew its stake in shares of Wolfspeed by 74.1% in the fourth quarter. SG Americas Securities LLC now owns 102,285 shares of the company's stock worth $681,000 after acquiring an additional 43,536 shares in the last quarter.

Wolfspeed Stock Performance

Wolfspeed stock traded up $0.57 during mid-day trading on Thursday, reaching $3.14. 28,945,851 shares of the company were exchanged, compared to its average volume of 12,996,950. The firm has a market cap of $401.02 million, a PE ratio of -0.41 and a beta of 1.69. 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's 50-day simple moving average is $4.39 and its two-hundred day simple moving average is $7.23. Wolfspeed, Inc. has a twelve month low of $2.06 and a twelve month high of $30.86.

Wolfspeed (NYSE:WOLF - Get Free Report) last issued 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%. Equities analysts predict that Wolfspeed, Inc. will post -4 earnings per share for the current fiscal year.

Analyst Ratings Changes

WOLF has been the subject of a number of analyst reports. Susquehanna lowered their price objective on Wolfspeed from $11.00 to $7.00 and set a "neutral" rating for the company in a research report on Wednesday, January 22nd. Canaccord Genuity Group dropped their price objective on shares of Wolfspeed from $18.00 to $10.00 and set a "buy" rating on the stock in a research report on Thursday, January 30th. StockNews.com upgraded shares of Wolfspeed to a "sell" rating in a report on Monday, January 6th. Piper Sandler lowered their target price on shares of Wolfspeed from $18.00 to $10.00 and set an "overweight" rating for the company in a research note on Thursday, January 30th. Finally, Bank of America cut their price target on Wolfspeed from $9.50 to $6.00 and set an "underperform" rating on the stock in a research note on Thursday, January 30th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $13.15.

Wolfspeed 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.