Wolfspeed Inc (NYSE:WOLF) shares, rose in value, with the stock price up by 0.19% to the previous day’s close as strong demand from buyers drove the stock to $27.07.
Actively observing the price movement in the last trading, the stock closed the session at $27.02. The value of beta (5-year monthly) was 1.65. Referring to stock’s 52-week performance, its high was $70.42, and the low was $23.54. On the whole, WOLF has fluctuated by 2.31% over the past month.
With the market capitalization of Wolfspeed Inc currently standing at about $3.41 billion, investors are eagerly awaiting this quarter’s results, scheduled for Apr 24, 2024 – Apr 29, 2024. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.64, which is expected to increase to -$0.5 for fiscal year -$2.44 and then to about -$1.83 by fiscal year 2025. Data indicates that the EPS growth is expected to be -68.30% in 2025, while the next year’s EPS growth is forecast to be 25.00%.
Analysts have estimated the company’s revenue for the quarter at $201.18 million, with a low estimate of $199.99 million and a high estimate of $208.21 million. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $833.29 million, representing a decrease of -9.60% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that WOLF’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium term indicators have put the stock in the category of 100% Sell while long term indicators on average have been pointing out that it is a 100% Sell.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of WOLF currently trading nearly -1.74% and -4.04% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 47.15, while the 7-day volatility ratio is showing 4.95% which for the 30-day chart, stands at 5.95%. Furthermore, Wolfspeed Inc (WOLF)’s beta value is 1.65, and its average true range (ATR) is 1.71.
A comparison of Wolfspeed Inc (WOLF) with its peers suggests the former has fared considerably weaker in the market. WOLF showed an intraday change of 0.19% in last session, and over the past year, it shrunk by -56.58%%.
Data on historical trading for Wolfspeed Inc (NYSE:WOLF) indicates that the trading volumes over the past 10 days have averaged 3.74 million and over the past 3 months, they’ve averaged 4.81 million. According to company’s latest data on outstanding shares, there are 124.79 million shares outstanding.
Nearly 2.05% of Wolfspeed Inc’s shares belong to company insiders and institutional investors own 109.79% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 19.64 million shares as on Mar 15, 2024, resulting in a short ratio of 4.47. According to the data, the short interest in Wolfspeed Inc (WOLF) stood at 15.61% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 19.29 million. The stock has fallen by -37.78% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the WOLF stock heading into the next quarter.
