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Is a Correction Looming Ahead for Wolfspeed Inc. (WOLF)

Wolfspeed Inc. (NYSE:WOLF) went up by 0.65% from its latest closing price compared to the recent 1-year high of $142.33. The company’s stock price has collected 1.50% of gains in the last five trading sessions. Barron’s reported on 08/18/22 that Wolfspeed Stock Surges 29% as Revenue Outlook Tops Forecasts

Is It Worth Investing in Wolfspeed Inc. (NYSE :WOLF) Right Now?

Plus, the 36-month beta value for WOLF is at 1.56.

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The average price from analysts is $119.45, which is -$3.91 below the current price. WOLF currently public float of 123.41M and currently shorts hold a 7.47% ratio of that float. Today, the average trading volume of WOLF was 2.07M shares.

WOLF’s Market Performance

WOLF stocks went up by 1.50% for the week, with a monthly jump of 12.17% and a quarterly performance of 94.23%, while its annual performance rate touched 43.03%. The volatility ratio for the week stands at 4.81% while the volatility levels for the past 30 days are set at 4.87% for Wolfspeed Inc. The simple moving average for the period of the last 20 days is 4.28% for WOLF stocks with a simple moving average of 27.19% for the last 200 days.

Analysts’ Opinion of WOLF

Many brokerage firms have already submitted their reports for WOLF stocks, with Canaccord Genuity repeating the rating for WOLF by listing it as a “Buy.” The predicted price for WOLF in the upcoming period, according to Canaccord Genuity is $140 based on the research report published on September 21st of the current year 2022.

Evercore ISI, on the other hand, stated in their research note that they expect to see WOLF reach a price target of $155. The rating they have provided for WOLF stocks is “Outperform” according to the report published on September 13th, 2022.

Cowen gave a rating of “Outperform” to WOLF, setting the target price at $125 in the report published on August 18th of the current year.

WOLF Trading at 24.02% from the 50-Day Moving Average

After a stumble in the market that brought WOLF to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -15.60% of loss for the given period.

Volatility was left at 4.87%, however, over the last 30 days, the volatility rate increased by 4.81%, as shares surge +7.26% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +73.98% upper at present.

During the last 5 trading sessions, WOLF rose by +1.50%, which changed the moving average for the period of 200-days by +4.47% in comparison to the 20-day moving average, which settled at $115.60. In addition, Wolfspeed Inc. saw 7.48% in overturn over a single year, with a tendency to cut further gains.

Insider Trading

Reports are indicating that there were more than several insider trading activities at WOLF starting from LE DUY LOAN T, who purchase 2,000 shares at the price of $120.34 back on Aug 25. After this action, LE DUY LOAN T now owns 2,000 shares of Wolfspeed Inc., valued at $240,677 using the latest closing price.

Dorchak Glenda, the Director of Wolfspeed Inc., sale 1,000 shares at $75.79 during a trade that took place back on Jun 02, which means that Dorchak Glenda is holding 7,591 shares at $75,794 based on the most recent closing price.

Stock Fundamentals for WOLF

Current profitability levels for the company are sitting at:

  • -22.00 for the present operating margin
  • +31.59 for the gross margin

The net margin for Wolfspeed Inc. stands at -39.55. Equity return is now at value -8.70, with -5.70 for asset returns.

The liquidity ratio also appears to be rather interesting for investors as it stands at 4.53.

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