Wolfspeed Inc. (NYSE:WOLF) saw an upside of 1.21% to close Tuesday at $45.02 after adding $0.54 on the day. The 5-day average trading volume is 6,104,960 shares of the company’s common stock. It has gained $54.83 in the past week and touched a new high 1 time within the past 5 days. An average of 2,911,445 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 2,996,738.
WOLF’s 1-month performance is -27.89% or -$18.14 on its low of $41.72 reached on 08/18/23. The company’s shares have touched a 52-week low of $39.02 and high of $125.48, with the stock’s rally to the 52-week high happening on 02/02/23. YTD, WOLF has lost -34.79% or -$24.02 and has reached a new high 11 times. However, the current price is down -64.12% from the 52-week high price.
Valuation Metrics
WOLF stock has a beta of 1.61. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 6.29 while the price-to-book (PB) in the most recent quarter is 3.28.
Wolfspeed Inc.’s quick ratio for the period ended June 29 was 4.20, with the current ratio over the same period at 4.70. As well, the company’s long term debt to equity for the quarter ending June 29 was 1.78, while the total debt to equity was 1.78.. In terms of profitability, the gross margin trailing 12 months is 30.30%. The firm’s gross profit as reported stood at $279.5 million against revenue of $921.9 million.
Earnings Surprise
For the quarterly period ending June 29 this year, Net income and sales went up compared to those figures reported in the previous quarter. Net income grew 33.17% to -$99.5 million, while revenue of -$90.9 million was 8.64% off the previous quarter. Analysts expected WOLF to announce -$0.2 per share in earnings in its latest quarter, but it posted -$0.42, representing a -110.00% surprise. WOLF stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 5.0 billion, with total debt at $4.18 billion.
Let’s look briefly at Wolfspeed Inc. (WOLF) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 22 August was 25.49% to suggest the stock is trending oversold, with historical volatility in this time period at 98.66%.
The stock’s 5-day moving average is $45.88, reflecting a -17.29% or -$9.41 change from its current price. WOLF is currently trading -27.71% above its 20-day SMA, -29.60% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -15.26% and SMA200 by-36.63%.
Stochastic %K and %D was 11.77% and 8.33% and the average true range (ATR) pointed at 3.06. The RSI (14) points at 29.95%, while the 14-day stochastic is at 17.66% with the period’s ATR at 3.02. The stock’s 9-day MACD Oscillator is pointing at -5.84 and -8.86 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Wolfspeed Inc. (NYSE: WOLF), Jefferies launched coverage with a Hold rating. Analysts offering their rating for WOLF stock have a consensus rating for the stock as Overweight. Currently, 1 brokerage advisors rate WOLF as a “sell,”, while 10 advise that investors “Hold.” 1 analysts have rated the stock as underweight. 1 rates the stock as overweight while 9 have offered a “buy” rating.
What is WOLF’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $44.00 and a high of $80.00, with their median price target at $60.00. Looking at these predictions, the average price target given by analysts is for Wolfspeed Inc. (WOLF) stock is $59.28.
