A Guide To The Risks Of Investing In Wolfspeed Inc. (WOLF)


Wolfspeed Inc.’s filing revealed that its Director LE DUY LOAN T acquired Company’s shares for reported $0.27 million on Nov 18. In the deal valued at $90.95 per share,3,000 shares were bought. As a result of this transaction, LE DUY LOAN T now holds 5,000 shares worth roughly $ 0.36 million.

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Then, LE DUY LOAN T bought 2,000 shares, generating $182,080 in total proceeds. Upon buying the shares at $91.04, the Director now owns 29,662 shares.

Before that, LE DUY LOAN T bought 2,000 shares. Wolfspeed Inc. shares valued at $147,640 were divested by the Director at a price of $73.82 per share. As a result of the transaction, LE DUY LOAN T now holds 27,662 shares, worth roughly $1.98 million.

Susquehanna initiated its Wolfspeed Inc. [WOLF] rating to a Neutral in a research note published on Friday, December 12, 2022; the price target was $90. PT values the company’s stock at a premium of 20.4 to its Friday closing price. A number of analysts have revised their coverage, including JP Morgan’s analysts, who increased its forecast for the stock in late October from “a Neutral” to “an Overweight”. William Blair began covering WOLF with “an Outperform” recommendation on October 17, 2022.

Price Performance Review of WOLF

On Friday, Wolfspeed Inc. [NYSE:WOLF] saw its stock fall -3.71% to $71.64. On the same session, the stock had its day’s lowest price of $71.32, but rose to a high of $73.7101. Over the last five days, the stock has lost -11.33%. Wolfspeed Inc. shares have risen nearly 3.77% since the year began. Nevertheless, the stocks have fallen -22.02% over the past one year. While a 52-week high of $125.48 was reached on 02/02/23, a 52-week low of $58.07 was recorded on 01/03/23. SMA at 50 days reached $77.04, while 200 days put it at $85.51. A total of 1.47 million shares were traded, compared to the trading of 1.87 million shares in the previous session.

Levels Of Support And Resistance For WOLF Stock

The 24-hour chart illustrates a support level at 70.74, which if violated will result in even more drops to 69.83. On the upside, there is a resistance level at 73.13. A further resistance level may holdings at 74.61. The Relative Strength Index (RSI) on the 14-day chart is 40.71, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -5.46, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 97.57%. Stochastics %K at 8.07% indicates the stock is a buying.

How much short interest is there in Wolfspeed Inc.?

A steep rise in short interest was recorded in Wolfspeed Inc. stocks on Jan 30, 2023, growing by 0.73 million shares to a total of 15.52 million shares. Yahoo Finance data shows the prior-month short interest on Dec 29, 2022 was 14.79 million shares. There was a rise of 4.7%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 18.99% of the overall stock float, the days-to-cover ratio (short ratio) rose to 5.85.

Wolfspeed Inc. [WOLF] – Who Are The Largest Shareholders?

In filings from Capital Research & Management Co, it is revealed that the company now owns 15,428,273 shares, or roughly 12.40% of the outstanding WOLF shares. In other words, the investor’s shares have risen by 1,800,156 from its previous 13-F filing of 13628117.0. Additionally, The Vanguard Group, Inc. increased 2.71% of its stake after which the total value it holdings stand at $906,127,769, while BlackRock Fund Advisors added 9.14% of its stake to hold $880.33 million in the firm. Over the last quarter, Capital Research & Management Co purchased 634,993 shares of Wolfspeed Inc., while Capital Research & Management Co bought 3,078,585 shares. At present, ClearBridge Investments LLC is holding 5,701,415 shares valued at $439.07 million. SSgA Funds Management, Inc. owned 4,211,849 shares of the company at the time of its most recent 13F filing, worth $324.35 million.

According to FactSet, Wolfspeed Inc.’s share price will average $92.32 in the next year, based on opinions of analysts polled by the firm. This is up nearly 27.69 percent from its previous closing price of $74.40. Analysts expect Wolfspeed Inc. stock to reach the higher price of $115.00, while the lowest price estimate is $60.00. However, 22 analysts have rated WOLF stock as an Overweight in their predictions for 2023. The most recent change occurred on September 13, 2022 when Evercore ISI began covering the stock and recommended ‘”an Outperform”‘ rating along with a $155 price target.


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