Wolfspeed, Inc. (NYSE:WOLF – Get Free Report) shares traded down 5.8% during mid-day trading 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 were traded during mid-day trading, a decline of 71% from the average session volume of 4,890,816 shares. The stock had previously closed at $25.94.
Other equities research analysts also recently issued reports about the stock. Roth Mkm reiterated a “buy” rating and set a $50.00 price target on shares of Wolfspeed in a research report on Tuesday, April 30th. JPMorgan Chase & Co. decreased their target price on Wolfspeed from $43.00 to $35.00 and set a “neutral” rating on the stock in a research report on Thursday, April 11th. William Blair cut Wolfspeed from an “outperform” rating to a “market perform” rating in a research report on Thursday, May 2nd. Mizuho decreased their price objective on shares of Wolfspeed from $30.00 to $27.00 and set a “neutral” rating on the stock in a research report on Thursday, May 2nd. Finally, Wells Fargo & Company restated an “equal weight” rating and set a $30.00 target price (down from $55.00) on shares of Wolfspeed in a report on Wednesday, April 3rd. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $36.93.
Check Out Our Latest Stock Report on WOLF
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Wolfspeed Price Performance
The company’s 50-day moving average is $26.56 and its 200-day moving average is $31.84. The firm has a market capitalization of $3.07 billion, a price-to-earnings ratio of -3.77 and a beta of 1.64. The company has a debt-to-equity ratio of 5.55, a current ratio of 4.58 and a quick ratio of 4.00.
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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