Wolfspeed, Inc. (NYSE:WOLF – Get Free Report) fell 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. 1,442,213 shares changed hands during trading, a decline of 71% from the average session volume of 4,890,816 shares. The stock had previously closed at $25.94.
Several other equities research analysts have also weighed in on WOLF. TD Cowen lowered Wolfspeed from a “buy” rating to a “hold” rating and reduced their target price for the stock from $40.00 to $25.00 in a report on Thursday, May 2nd. Citigroup decreased their price objective on shares of Wolfspeed from $29.00 to $25.00 and set a “neutral” rating for the company in a report on Thursday, May 2nd. JPMorgan Chase & Co. lowered their target price on shares of Wolfspeed from $43.00 to $35.00 and set a “neutral” rating on the stock in a research note on Thursday, April 11th. Piper Sandler cut their target price on shares of Wolfspeed from $55.00 to $45.00 and set an “overweight” rating for the company in a research report on Thursday, February 1st. Finally, William Blair downgraded Wolfspeed from an “outperform” rating to a “market perform” rating in a research report on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $36.93.
Read Our Latest Stock Analysis on WOLF
Institutional Inflows and Outflows
Wolfspeed Trading Up 0.5 %
The firm has a market cap of $3.07 billion, a P/E ratio of -3.77 and a beta of 1.64. The company has a current ratio of 4.58, a quick ratio of 4.00 and a debt-to-equity ratio of 5.55. The company’s fifty day moving average price is $26.56 and its two-hundred day moving average price is $31.84.
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.
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