In a filing, Wolfspeed Inc revealed its Director REPLOGLE JOHN B acquired Company’s shares for reported $0.26 million on Feb 02 ’24. In the deal valued at $26.04 per share,10,000 shares were bought. As a result of this transaction, REPLOGLE JOHN B now holds 96,788 shares worth roughly $2.55 million.
Then, JACKSON DARREN R bought 10,000 shares, generating $257,954 in total proceeds. Upon buying the shares at $25.80, the Director now owns 49,021 shares.
Before that, Smith Stacy J bought 9,450 shares. Wolfspeed Inc shares valued at $249,018 were divested by the Director at a price of $26.35 per share. As a result of the transaction, Smith Stacy J now holds 17,464 shares, worth roughly $0.46 million.
Mizuho initiated its Wolfspeed Inc [WOLF] rating to a Neutral in a research note published on April 05, 2024; the price target was $30. A number of analysts have revised their coverage, including Wells Fargo’s analysts, who decreased its forecast for the stock in early April from “an Overweight” to “an Equal weight”. Jefferies began covering WOLF with “Hold” recommendation on May 18, 2023. Oppenheimer revised its rating on April 27, 2023. It rated WOLF as “a Perform” which previously was an “an Outperform”.
Price Performance Review of WOLF
On Friday, Wolfspeed Inc [NYSE:WOLF] saw its stock fall -2.81% to $26.31. Over the last five days, the stock has lost -10.81%. Wolfspeed Inc shares have fallen nearly -39.53% since the year began. Nevertheless, the stocks have fallen -55.78% over the past one year. While a 52-week high of $70.42 was reached on 01/02/24, a 52-week low of $23.54 was recorded on 02/26/24. SMA at 50 days reached $27.83, while 200 days put it at $39.92. A total of 3.0 million shares were traded, compared to the trading of 4.28 million shares in the previous session.
Levels Of Support And Resistance For WOLF Stock
The 24-hour chart illustrates a support level at 25.81, which if violated will result in even more drops to 25.30. On the upside, there is a resistance level at 26.84. A further resistance level may holdings at 27.36. The Relative Strength Index (RSI) on the 14-day chart is 44.38, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.55, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 66.56%. Stochastics %K at 40.92% indicates the stock is a holding.
How much short interest is there in Wolfspeed Inc?
A steep rise in short interest was recorded in Wolfspeed Inc stocks on Mar 15, 2024, growing by 0.35 million shares to a total of 19.64 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 19.29 million shares. There was a rise of 1.78%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 21.57% of the overall stock float, the days-to-cover ratio (short ratio) rose to 4.47.
