Home  »  Business   »  Wolfspeed Inc (NYSE: WOLF)’S Stock Adds 29.0...

Wolfspeed Inc (NYSE: WOLF)’S Stock Adds 29.02%, But It May Be Worth Investing In

Wolfspeed Inc (NYSE:WOLF) price closed higher on Friday, February 09, jumping 29.02% below its previous close.

A look at the daily price movement shows that the last close reads $41.87. The company’s 5Y monthly beta was ticking 1.72. Taking into account the 52-week price action we note that the stock hit a 52-week high of $84.50 and 52-week low of $24.97. The stock subtracted -19.81% on its value in the past month.

#1 Small-Cap Uranium Stock for Ultra-Fast Gains in 2024

We've uncovered THE ONE small-cap uranium stock that has unearthed a near-surface, high-grade uranium discovery in the Saudi Arabia of Uranium — Canada's prolific Athabasca Basin. Best of all, this small-cap uranium stock is currently flying just below Wall Street's radar… giving you the early-entry opportunity around US$0.30 per share. But that won't last long. Drills are turning right now with results set to be released to the market very, very soon.

Learn all about it in this brand new FREE online report.
Sponsored

Wolfspeed Inc, which has a market valuation of $3.65 billion, is expected to release its quarterly earnings report Apr 24, 2024 – Apr 29, 2024. Analysts tracking WOLF have forecast the quarterly EPS to shrink by -0.64 per share this quarter, while the same analysts predict the annual EPS to hit -$2.44 for the year 2024 and up to -$1.84 for 2025. In this case, analysts estimate an annual EPS growth of -68.30% for the year and 24.60% for the next year.

On average, analysts have forecast the company’s revenue for the quarter will hit $201.18 million, with the likely lows of $199.99 million and highs of $208.21 million. Staying with the analyst view, there is a consensus estimate of $833.29 million for the company’s annual revenue in 2024. Per this projection, the revenue is forecast to grow -9.60% below that which the company brought in 2024.

Revisions to the company’s EPS highlights a short term direction of a stock’s price movement, which in the last 7 days came up with 2 upward and no downward reviews. On the technical perspective front, indicators give WOLF a short term outlook of 100% Sell on average. Looking at the stock’s medium term indicators we note that it is averaging as a 50% Sell, while an average of long term indicators are currently assigning the stock as 100% Sell.

The overview shows that WOLF’s price is at present 12.52% off the SMA20 and -3.56% from the SMA50. The Relative Strength Index (RSI) metric on the 14-day timeframe is pointing at 39.83, with weekly volatility standing at 6.48%. The indicator jumps to 6.32% when calculated based on the past 30 days. Wolfspeed Inc (NYSE:WOLF)’s beta value is holding at 1.70, while the average true range (ATR) indicator is currently reading 2.21.

Turning out attention to how the Wolfspeed Inc stock has performed in comparison to its peers in the industry, here’s what we find: WOLF’s stock is 29.02% on the day and -63.98% in the past 12 months, while NVIDIA Corp. (NVDA) traded 3.58%% in the last session and was positioned 231.07% up on its price 12 months ago. Turning out attention to how the Wolfspeed Inc stock has performed in comparison to its peers in the industry, here’s what we find: WOLF’s stock is 29.02% on the day and -63.98% in the past 12 months, while NVIDIA Corp. (NVDA) traded 3.58%% in the last session and was positioned 231.07% up on its price 12 months ago. Another comparison is with Broadcom Inc. (AVGO) whose stock price was up 0.68%% in the last trading session, and has flourished 113.51% over the past year. Also, Qualcomm Inc. (QCOM) showed up trend of 1.90%% while its price kept floating at 15.41% over the past year.

An analysis of the Wolfspeed Inc (NYSE:WOLF) stock in terms of its daily trading volume indicates that the 3-month average is 0.95. However, this figure increases on the past 10-day timeline to an average of 7.14 million.

Current records show that the company has 124.79M in outstanding shares. The insiders’ percentage holdings are 2.14% of outstanding shares while the percentage share held by institutions stands at 107.53%. The stats also highlight that short interest as of Jan 31, 2024, stood at 18.98 million shares, which puts the short ratio at the time at 4.38. From this we can glean that short interest is 15.09% of company’s current outstanding shares. Notably, we see that shares short in January rose slightly given the previous month’s figure stood at 15.65 million. But the -33.30% downside, the stock’s price has registered year-to-date as of last trading, will likely reignite investor interest given the prospect of it rallying even higher.