19,507 Shares in Wolfspeed, Inc. (NYSE:WOLF) Acquired by Dark Forest Capital Management LP

Dark Forest Capital Management LP bought a new position in shares of Wolfspeed, Inc. (NYSE:WOLF) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 19,507 shares of the company’s stock, valued at approximately $130,000.

A number of other hedge funds have also recently bought and sold shares of the company. Yaupon Capital Management LP acquired a new stake in Wolfspeed during the fourth quarter worth approximately $1,924,000. IHT Wealth Management LLC purchased a new position in Wolfspeed during the fourth quarter worth approximately $90,000. Stifel Financial Corp raised its stake in Wolfspeed by 413.0% during the fourth quarter. Stifel Financial Corp now owns 137,690 shares of the company’s stock worth $917,000 after purchasing an additional 110,848 shares during the period. State of Tennessee Department of Treasury raised its stake in Wolfspeed by 69.1% during the fourth quarter. State of Tennessee Department of Treasury now owns 54,437 shares of the company’s stock worth $363,000 after purchasing an additional 22,242 shares during the period. Finally, MYDA Advisors LLC purchased a new position in Wolfspeed during the fourth quarter worth approximately $362,000.

Wolfspeed Stock Down 16.2 %

Shares of Wolfspeed stock opened at $3.46 on Wednesday. The company has a current ratio of 3.15, a quick ratio of 2.47 and a debt-to-equity ratio of 17.26. The business’s 50 day simple moving average is $4.18 and its 200-day simple moving average is $7.07. The stock has a market capitalization of $441.89 million, a price-to-earnings ratio of -0.45 and a beta of 1.69. Wolfspeed, Inc. has a twelve month low of $2.06 and a twelve month high of $30.86.

Wolfspeed (NYSE:WOLF) last announced its quarterly earnings results on Wednesday, January 29th. The company reported ($1.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.90) by ($0.20). Wolfspeed had a negative return on equity of 70.84% and a negative net margin of 125.96%. Equities research analysts forecast that Wolfspeed, Inc. will post -4 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on WOLF shares. The Goldman Sachs Group cut their target price on shares of Wolfspeed from $15.00 to $8.00 and set a “buy” rating on the stock in a research note on Wednesday, April 2nd. Canaccord Genuity Group cut their target price on shares of Wolfspeed from $18.00 to $10.00 and set a “buy” rating on the stock in a research note on Thursday, January 30th. Bank of America cut their target price on shares of Wolfspeed from $9.50 to $6.00 and set an “underperform” rating on the stock in a research note on Thursday, January 30th. Susquehanna dropped their price target on shares of Wolfspeed from $11.00 to $7.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 22nd. Finally, StockNews.com raised shares of Wolfspeed to a “sell” rating in a research note on Monday, January 6th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Wolfspeed currently has an average rating of “Hold” and an average target price of $13.15.

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.