In yesterday’s Wall Street session, Wolfspeed Inc (NYSE:WOLF) shares traded at $8.24, down -5.50% from the previous session.
WOLF stock price is now -46.96% away from the 50-day moving average and -68.71% away from the 200-day moving average. The market capitalization of the company currently stands at $1.05B.
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With the price target reduced from $25 to $15, TD Cowen maintained Hold rating for Wolfspeed Inc (NYSE: WOLF). On August 22, 2024, Goldman reiterated its ‘Buy’ rating on the stock by increasing its target price from $48 to quote $28, while ‘New Street’ rates the stock as ‘Neutral’
In other news, Riley Marvin, Director bought 1,866 shares of the company’s stock on May 28 ’24. The stock was bought for $50,481 at an average price of $27.05. Upon completion of the transaction, the Director now directly owns 13,297 shares in the company, valued at $0.11 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Feb 02 ’24, Director JACKSON DARREN R bought 10,000 shares of the business’s stock. A total of $257,954 was incurred on buying the stock at an average price of $25.80. This leaves the insider owning 49,021 shares of the company worth $0.4 million. A total of 1.36% of the company’s stock is owned by insiders.
During the past 12 months, Wolfspeed Inc has had a low of $7.28 and a high of $47.43. As of last week, the company has a debt-to-equity ratio of 7.13, a current ratio of 4.51, and a quick ratio of 3.82. The fifty day moving average price for WOLF is $15.2244 and a two-hundred day moving average price translates $26.2008 for the stock.
The latest earnings results from Wolfspeed Inc (NYSE: WOLF) was released for 2024-06-30. The net profit margin was -107.06% and return on equity was -45.81% for WOLF. The company reported revenue of $200.7 million for the quarter, compared to $202.7 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -0.99 percent.
