In yesterday’s Wall Street session, Wolfspeed Inc (NYSE:WOLF) shares traded at $11.10, up 15.87% from the previous session.
WOLF stock price is now 2.46% away from the 50-day moving average and -42.16% away from the 200-day moving average. The market capitalization of the company currently stands at $1.52B.
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With the price target reduced from $17 to $8, Mizuho Downgraded its rating from Neutral to Underperform for Wolfspeed Inc (NYSE: WOLF). On August 22, 2024, TD Cowen reiterated its ‘Hold’ rating on the stock by increasing its target price from $25 to quote $15, while ‘Goldman’ rates the stock as ‘Buy’
In other news, Dorchak Glenda, Director bought 3,592 shares of the company’s stock on Nov 22 ’24. The stock was bought for $29,921 at an average price of $8.33. Upon completion of the transaction, the Director now directly owns 18,688 shares in the company, valued at $0.21 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Nov 20 ’24, Director JACKSON DARREN R bought 36,975 shares of the business’s stock. A total of $249,999 was incurred on buying the stock at an average price of $6.76. This leaves the insider owning 85,996 shares of the company worth $0.95 million. A total of 0.94% of the company’s stock is owned by insiders.
During the past 12 months, Wolfspeed Inc has had a low of $6.10 and a high of $47.43. As of last week, the company has a debt-to-equity ratio of 10.03, a current ratio of 3.14, and a quick ratio of 2.54. The fifty day moving average price for WOLF is $10.773 and a two-hundred day moving average price translates $19.2759 for the stock.
The latest earnings results from Wolfspeed Inc (NYSE: WOLF) was released for 2024-09-29. The net profit margin was -93.31% and return on equity was -78.12% for WOLF. The company reported revenue of $194.7 million for the quarter, compared to $197.4 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -1.37 percent.
