Investors Purchase High Volume of Put Options on Wolfspeed (NYSE:WOLF)

Wolfspeed (NYSE:WOLF) was the target of unusually large options trading activity on Tuesday. Stock traders bought 124,309 put options on the company. This is an increase of 15% compared to the typical daily volume of 108,192 put options.

Wolfspeed Price Performance

WOLF stock opened at $2.02 on Wednesday. The company has a quick ratio of 0.30, a current ratio of 0.36 and a debt-to-equity ratio of 30.65. Wolfspeed has a 12 month low of $0.39 and a 12 month high of $17.45. The firm has a market cap of $315.29 million, a P/E ratio of -0.18 and a beta of 1.29. The company’s 50-day moving average price is $1.60 and its two-hundred day moving average price is $2.31.

Hedge Funds Weigh In On Wolfspeed

Several hedge funds have recently bought and sold shares of the company. American Trust acquired a new stake in shares of Wolfspeed in the 4th quarter valued at approximately $68,000. GAMMA Investing LLC boosted its stake in shares of Wolfspeed by 593.7% in the 1st quarter. GAMMA Investing LLC now owns 52,503 shares of the company’s stock valued at $161,000 after purchasing an additional 44,934 shares in the last quarter. Rhumbline Advisers boosted its stake in shares of Wolfspeed by 10.8% in the 1st quarter. Rhumbline Advisers now owns 342,505 shares of the company’s stock valued at $1,048,000 after purchasing an additional 33,361 shares in the last quarter. Green Alpha Advisors LLC boosted its stake in shares of Wolfspeed by 215.5% in the 1st quarter. Green Alpha Advisors LLC now owns 71,210 shares of the company’s stock valued at $218,000 after purchasing an additional 48,636 shares in the last quarter. Finally, Yousif Capital Management LLC boosted its stake in shares of Wolfspeed by 16.8% in the 1st quarter. Yousif Capital Management LLC now owns 56,559 shares of the company’s stock valued at $173,000 after purchasing an additional 8,137 shares in the last quarter.

Wolfspeed Company Profile

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.