Wolfspeed, Inc. (NYSE:WOLF – Get Free Report) dropped 5.8% on Tuesday after Deutsche Bank Aktiengesellschaft lowered their price target on the stock from $30.00 to $25.00. Deutsche Bank Aktiengesellschaft currently has a hold rating on the stock. Wolfspeed traded as low as $24.42 and last traded at $24.44. Approximately 1,442,213 shares were traded during mid-day trading, a decline of 71% from the average daily volume of 4,890,816 shares. The stock had previously closed at $25.94.
A number of other equities research analysts also recently issued reports on WOLF. JPMorgan Chase & Co. lowered their price target on Wolfspeed from $43.00 to $35.00 and set a “neutral” rating for the company in a research report on Thursday, April 11th. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $30.00 target price (down from $55.00) on shares of Wolfspeed in a research report on Wednesday, April 3rd. William Blair cut shares of Wolfspeed from an “outperform” rating to a “market perform” rating in a research report on Thursday, May 2nd. Roth Mkm reaffirmed a “buy” rating and issued a $50.00 price objective on shares of Wolfspeed in a report on Tuesday, April 30th. Finally, Citigroup dropped their price target on Wolfspeed from $29.00 to $25.00 and set a “neutral” rating on the stock in a research report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $36.93.
View Our Latest Analysis on WOLF
Institutional Trading of Wolfspeed
Wolfspeed Trading Down 6.5 %
The firm has a market cap of $3.05 billion, a price-to-earnings ratio of -3.76 and a beta of 1.64. The company has a quick ratio of 4.00, a current ratio of 4.58 and a debt-to-equity ratio of 5.55. The business’s fifty day moving average is $26.59 and its two-hundred day moving average is $31.90.
About Wolfspeed
Wolfspeed, Inc operates as a powerhouse semiconductor company focuses on silicon carbide and gallium nitride (GaN) technologies in Europe, Hong Kong, China, rest of Asia-Pacific, the United States, and internationally. It offers silicon carbide and GaN materials, including silicon carbide bare wafers, epitaxial wafers, and GaN epitaxial layers on silicon carbide wafers to manufacture products for RF, power, and other applications.
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