C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Purchases Shares of 22,778 Wolfspeed, Inc. (NYSE:WOLF)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new stake in Wolfspeed, Inc. (NYSE:WOLF) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 22,778 shares of the company’s stock, valued at approximately $152,000.

Other hedge funds also recently added to or reduced their stakes in the company. Eastern Bank purchased a new position in Wolfspeed in the third quarter valued at approximately $27,000. R Squared Ltd purchased a new position in Wolfspeed in the fourth quarter valued at approximately $28,000. KBC Group NV increased its stake in Wolfspeed by 76.5% in the fourth quarter. KBC Group NV now owns 6,064 shares of the company’s stock valued at $40,000 after purchasing an additional 2,629 shares during the last quarter. Allworth Financial LP increased its stake in Wolfspeed by 38.1% in the fourth quarter. Allworth Financial LP now owns 7,060 shares of the company’s stock valued at $44,000 after purchasing an additional 1,949 shares during the last quarter. Finally, Asset Management One Co. Ltd. increased its stake in Wolfspeed by 69.0% in the third quarter. Asset Management One Co. Ltd. now owns 7,067 shares of the company’s stock valued at $69,000 after purchasing an additional 2,885 shares during the last quarter.

Wolfspeed Price Performance

Shares of NYSE WOLF opened at $7.52 on Friday. The company has a debt-to-equity ratio of 17.26, a current ratio of 3.15 and a quick ratio of 2.47. The stock has a fifty day moving average price of $6.47 and a 200 day moving average price of $9.23. Wolfspeed, Inc. has a 1-year low of $4.66 and a 1-year high of $30.86. The company has a market cap of $959.74 million, a PE ratio of -0.98 and a beta of 1.43.

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

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on WOLF shares. JPMorgan Chase & Co. decreased their price objective on Wolfspeed from $20.00 to $17.00 and set a “neutral” rating for the company in a report on Thursday, November 7th. StockNews.com raised Wolfspeed to a “sell” rating in a report on Monday, January 6th. Roth Mkm decreased their price objective on Wolfspeed from $25.00 to $20.00 and set a “buy” rating for the company in a report on Thursday, November 7th. The Goldman Sachs Group decreased their price objective on Wolfspeed from $17.00 to $15.00 and set a “buy” rating for the company in a report on Thursday, January 30th. Finally, Susquehanna decreased their price objective on Wolfspeed from $11.00 to $7.00 and set a “neutral” rating for the company in a report on Wednesday, January 22nd. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Wolfspeed has a consensus rating of “Hold” and an average target price of $14.86.

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.