The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Wolfspeed Inc shares valued at $29,921 were purchased by Dorchak Glenda on Nov 22 ’24. At $8.33 per share, Dorchak Glenda acquired 3,592 shares. The insider’s holdings grew to 18,688 shares worth approximately $0.13 million following the completion of this transaction.
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Also, JACKSON DARREN R purchased 36,975 shares, netting a total of over 249,999 in proceeds. Following the buying of shares at $6.76 each, the insider now holds 85,996 shares.
Before that, WERNER THOMAS H had added 37,500 shares to its account. In a trade valued at $244,785, the Chairman of the Board bought Wolfspeed Inc shares for $6.53 each. Upon closing the transaction, the insider’s holdings increased to 37,500 shares, worth approximately $0.76 million.
As published in a research note from Mizuho on October 03, 2024, Wolfspeed Inc [WOLF] has been rated down from a Neutral to an Underperform and the price target has been revised to $8 from $17. Analysts at TD Cowen resumed the stock at ‘”a Hold”‘ outlook in a report released in late August. As of August 22, 2024, Goldman has reiterated its “Buy” rating for WOLF. Earlier on August 07, 2024, New Street downgraded its rating. Their new recommendation was “a Neutral” for WOLF stock which previously was a “a Buy”.
Analyzing WOLF Stock Performance
During the last five days, there has been a drop of approximately -13.37%. Over the course of the year, Wolfspeed Inc shares have dropped approximately -83.91%. Shares of the company reached a 52-week high of $44.77 on 01/02/24 and a 52-week low of $6.10 on 11/21/24. A 50-day SMA is recorded $10.72, while a 200-day SMA reached $18.06. Nevertheless, trading volume fell to 9.28 million shares from 6.98 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 6.63, which, if violated, would cause prices to drop to 6.27. In the upper region, resistance lies at 7.55. The next price resistance is at 8.11. RSI (Relative Strength Index) is 37.27 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.49, which suggests the price will decrease in the coming days. Percent R is at 95.91%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
