As of Friday close, Wolfspeed Inc.’s (NYSE:WOLF) stock was up $2.19, moving up 6.10 percent to $38.12. The average number of shares traded per day over the past five days has been 3,500,840 shares. 1 time new highs have been achieved over the past 5 days, with a -$5.55 fall in that time frame. In the last twenty days, the average volume was 2,658,290, while in the previous 50 days, it was 2,663,778.
Since last month, WOLF stock retreated -20.52%. Shares of the company fell to $35.92 on 09/21/23, the lowest level in the past month. A 52-week high of $120.90 was reached on 02/02/23 after having rallying from a 52-week low of $35.92. Since the beginning of this year, WOLF’s stock price has dropped by -44.79% or -$30.92, and marked a new high 11 times. However, the stock has declined by -68.47% since its 52-week high.
WOLF stock investors should be aware that Wolfspeed Inc. (WOLF) stock had its last reported insider trading activity 31 days ago on Aug 23. LE DUY LOAN T, the Director of the company, purchased of 5,000 shares for $47.01 on Aug 23. It resulted in a $235,068 investment by the insider. REPLOGLE JOHN B added 10,566 shares at an average price of $47.54 on Apr 28. The insider now owns 81,405 shares following the transaction. On Apr 28, PRESIDENT & CEO LOWE GREGG A bought 5,450 shares at $45.94 apiece. The transaction was valued at $250,357.
Valuation Metrics
The stock’s beta is 1.62. Besides these, the trailing price-to-sales (P/S) ratio of 5.27, the price-to-book (PB) ratio of 2.93.
Financial Health
In the three months ended June 29, Wolfspeed Inc.’s quick ratio stood at 5.20, while its current ratio was 5.70, showing that the company is able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending June 29 was 2.58, and the total debt-to-equity ratio was 2.58. On the profitability front, the trailing twelve-month gross margin is 30.30% percent. In the year ended June 29, operating margins totaled -37.30%. Based on annual data, WOLF earned $279.5 million in gross profit and brought in $921.9 million in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was -5.90%. Return on equity (ROE) for the past 12 months was -18.30%.
In Wolfspeed Inc.’s quarter-end financial report for June 29, it reported total debt of $1.15 billion. According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. WOLF’s revenue rose 2.93% to $228.7 million during the quarter, while net income inched up to $235.4 million. While analysts expected Wolfspeed Inc. to report -$0.2 quarterly earnings, the actual figure was -$0.42 per share. During the quarter, the company generated -$67.0 million in EBITDA. The liabilities of Wolfspeed Inc. were 4.96 billion at the end of its most recent quarter ended June 29, and its total debt was $4.31 billion. The value of shareholders’ equity is $125.25 million.
Technical Picture
This quick technical analysis looks at Wolfspeed Inc.’s (WOLF) price momentum. With a historical volatility rate of 73.23%, the RSI 9-day stood at 31.83% on 22 September.
With respect to its five-day moving average, the current Wolfspeed Inc. price is down by -12.71% percent or -$5.55. At present, WOLF shares trade -14.61% below its 20-day simple moving average and -18.30% percent below its 100-day simple moving average. However, the stock is currently trading approximately -43.33% below its SMA50 and -53.82% below its SMA200.
Stochastic coefficient K was 7.57% and Stochastic coefficient D was 4.91%, while ATR was 2.26. Given the Stochastic reading of 22.29% for the 14-day period, the RSI (14) reading has been calculated as 32.86%. As of today, the MACD Oscillator reading stands at -3.45, while the 14-day reading stands at -4.16.
Analyst Ratings
Jefferies launched its rating on Wolfspeed Inc. (NYSE: WOLF) to a Hold in a note to investors on May 18, 2023. Wolfspeed Inc. (WOLF) has been rated Overweight by analysts. According to 1 brokerage firm, WOLF is a sell, and 9 firms recommend it is a Hold. There are 1 analyst who say the stock is underweight. A total of 1 analyst rate Wolfspeed Inc. stock as buy, with 10 recommending it as overweight.
With a median target price of $59.70, the current consensus forecast for the stock is $42.00 – $80.00. Based on these forecasts, analysts predict Wolfspeed Inc. (WOLF) will achieve an average price target of $57.58.
