Stocks of Wolfspeed Inc (NYSE:WOLF) traded higher last session on Wall Street, down -7.46% to $6.33.
WOLF stock price is now -3.93% away from the 50-day moving average and -54.18% away from the 200-day moving average. The market capitalization of the company currently stands at $984.77M.
With the price target reduced from $17 to $8, Mizuho Downgraded its rating from Neutral to Underperform for Wolfspeed Inc (NYSE: WOLF). On August 22, 2024, TD Cowen reiterated its ‘Hold’ rating on the stock by increasing its target price from $25 to quote $15, while ‘Goldman’ rates the stock as ‘Buy’
In other news, Dorchak Glenda, Director bought 3,592 shares of the company’s stock on Nov 22 ’24. The stock was bought for $29,921 at an average price of $8.33. Upon completion of the transaction, the Director now directly owns 18,688 shares in the company, valued at $0.12 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Nov 20 ’24, Director JACKSON DARREN R bought 36,975 shares of the business’s stock. A total of $249,999 was incurred on buying the stock at an average price of $6.76. This leaves the insider owning 85,996 shares of the company worth $0.54 million. A total of 0.93% of the company’s stock is owned by insiders.
During the past 12 months, Wolfspeed Inc has had a low of $4.66 and a high of $30.86. As of last week, the company has a debt-to-equity ratio of 17.65, a current ratio of 3.15, and a quick ratio of 2.47.
The net profit margin was -125.96% and return on equity was -128.47% for WOLF. The company reported revenue of $180.5 million for the quarter, compared to $208.4 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -13.39 percent.
