GMT Capital Corp Invests $2.59 Million in Wolfspeed $WOLF

Key Points

• GMT Capital Corp invested approximately $2.59 million in Wolfspeed by acquiring 847,548 shares, representing 0.66% ownership as of its latest SEC filing.
• Several other investors made new stakes in Wolfspeed, including N.E.W. Advisory Services LLC and American Trust, with invested amounts ranging from $28,000 to $72,000.
• Wall Street analysts have mixed views on Wolfspeed, with Citigroup issuing a "sell" rating and a $3.00 price target, while Piper Sandler set an "overweight" rating but revised their price objective down to $6.00.

GMT Capital Corp purchased a new position in Wolfspeed (NYSE:WOLF - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 847,548 shares of the company's stock, valued at approximately $2,593,000. GMT Capital Corp owned 0.66% of Wolfspeed as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. N.E.W. Advisory Services LLC bought a new stake in shares of Wolfspeed in the first quarter worth approximately $28,000. Beacon Capital Management LLC bought a new stake in shares of Wolfspeed in the first quarter worth approximately $31,000. American Trust bought a new stake in shares of Wolfspeed in the fourth quarter worth approximately $68,000. Wealthfront Advisers LLC bought a new stake in shares of Wolfspeed in the first quarter worth approximately $32,000. Finally, PharVision Advisers LLC bought a new stake in shares of Wolfspeed in the fourth quarter worth approximately $72,000.

Wall Street Analysts Forecast Growth

WOLF has been the subject of a number of research analyst reports. Citigroup reiterated a "sell" rating and issued a $3.00 price target (down from $7.00) on shares of Wolfspeed in a research note on Friday, May 9th. JPMorgan Chase & Co. reissued an "underweight" rating on shares of Wolfspeed in a report on Friday, May 9th. Finally, Piper Sandler dropped their price objective on shares of Wolfspeed from $10.00 to $6.00 and set an "overweight" rating on the stock in a report on Friday, May 9th. Four investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $9.80.

Wolfspeed Trading Up 3.6%

WOLF stock opened at $1.23 on Friday. The company has a quick ratio of 3.90, a current ratio of 0.36 and a debt-to-equity ratio of 30.65. Wolfspeed has a twelve month low of $0.39 and a twelve month high of $17.45. The stock has a market capitalization of $192.93 million, a price-to-earnings ratio of -0.11 and a beta of 1.23. The firm's fifty day simple moving average is $1.35 and its two-hundred day simple moving average is $2.82.

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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