Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Wolfspeed Inc shares valued at $50,481 were purchased by Riley Marvin on May 28 ’24. At $27.05 per share, Riley Marvin acquired 1,866 shares. The insider’s holdings grew to 13,297 shares worth approximately $0.11 million following the completion of this transaction.
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Also, JACKSON DARREN R purchased 10,000 shares, netting a total of over 257,954 in proceeds. Following the buying of shares at $25.80 each, the insider now holds 49,021 shares.
Before that, REPLOGLE JOHN B had added 10,000 shares to its account. In a trade valued at $260,358, the Director bought Wolfspeed Inc shares for $26.04 each. Upon closing the transaction, the insider’s holdings increased to 10,000 shares, worth approximately $0.78 million.
As published in a research note from TD Cowen on August 22, 2024, Wolfspeed Inc [WOLF] has been retained to a Hold and the price target has been revised to $15. Analysts at Goldman resumed the stock at ‘”a Buy”‘ outlook in a report released in late August. As of August 07, 2024, New Street has decreased its “Buy” rating to a “Neutral” for WOLF. Earlier on May 02, 2024, William Blair downgraded its rating. Their new recommendation was “a Mkt perform” for WOLF stock which previously was a “an Outperform”.
Analyzing WOLF Stock Performance
During the last five days, there has been a drop of approximately -8.52%. Over the course of the year, Wolfspeed Inc shares have dropped approximately -81.50%. Shares of the company reached a 52-week high of $44.77 on 01/02/24 and a 52-week low of $7.28 on 09/10/24. A 50-day SMA is recorded $15.83, while a 200-day SMA reached $26.46. Nevertheless, trading volume fell to 7.86 million shares from 9.16 million shares the previous day.
Support And Resistance Levels for Wolfspeed Inc (WOLF)
According to the 24-hour chart, there is a support level at 7.70, which, if violated, would cause prices to drop to 7.36. In the upper region, resistance lies at 8.46. The next price resistance is at 8.87. RSI (Relative Strength Index) is 30.40 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.86, which suggests the price will decrease in the coming days. Percent R is at 89.12%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
