WOLF Stock Summary and Trading Ideas (Wolfspeed | NYSE:WOLF)

Wolfspeed Inc is involved in the manufacturing of wide bandgap semiconductors. It is focused on silicon carbide and gallium nitride materials and devices for power and radio-frequency (RF) applications. The company serves applications such as transportation, power supplies, inverters, and wireless systems. Geographically, it derives a majority of its revenue from Europe and the rest from the United States, China, Hong Kong, Asia Pacific, and other regions.

Wolfspeed trades on the NYSE stock market under the symbol WOLF.

As of November 13, 2024, WOLF stock price declined to $8.07 with 10,218,809 million shares trading.

WOLF has a beta of 2.26, meaning it tends to be more sensitive to market movements. WOLF has a correlation of 0.08 to the broad based SPY ETF.

WOLF has a market cap of $1.02 billion. This is considered a Small Cap stock.

Last quarter Wolfspeed reported $195 million in Revenue and -$.91 earnings per share. This fell short of revenue expectation by $-6 million and exceeded earnings estimates by $.09.

In the last 3 years, WOLF traded as high as $142.33 and as low as $7.28.

The top ETF exchange traded funds that WOLF belongs to (by Net Assets): IJR, VTI, VB, VGT, XSD.

WOLF has underperformed the market in the last year with a price return of -75.1% while the SPY ETF gained +37.1%. WOLF has also underperformed the stock market ETF in the last 3 month and 2 week periods returning -32.6% and -47.8%, respectively, while the SPY returned +12.3% and +2.7%, respectively.

WOLF support price is $7.74 and resistance is $8.98 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that WOLF shares will trade within this expected range on the day.