Jump Financial LLC Buys Shares of 1,438,505 Wolfspeed $WOLF

Key Points

• Jump Financial LLC acquired a new stake in Wolfspeed by purchasing 1,438,505 shares valued at approximately $4.4 million, representing around 1.13% of the company's outstanding shares.
• Multiple large investors, including Ground Swell Capital and Victory Capital Management, have also increased their stakes, indicating confidence in Wolfspeed's potential.
• Wolfspeed reported a loss of ($0.85) earnings per share, missing analysts' expectations, with a current market cap of $206.21 million and a consensus rating of "Hold".

Jump Financial LLC acquired a new position in shares of Wolfspeed (NYSE:WOLF - Free Report) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 1,438,505 shares of the company's stock, valued at approximately $4,402,000. Jump Financial LLC owned about 1.13% of Wolfspeed at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in WOLF. N.E.W. Advisory Services LLC acquired a new position in Wolfspeed during the 1st quarter worth $28,000. Beacon Capital Management LLC acquired a new stake in shares of Wolfspeed in the first quarter valued at $31,000. Wealthfront Advisers LLC acquired a new stake in shares of Wolfspeed in the first quarter valued at $32,000. SBI Securities Co. Ltd. lifted its holdings in shares of Wolfspeed by 39.7% in the first quarter. SBI Securities Co. Ltd. now owns 15,592 shares of the company's stock valued at $48,000 after buying an additional 4,429 shares during the period. Finally, Cladis Investment Advisory LLC acquired a new stake in shares of Wolfspeed in the first quarter valued at $49,000.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on WOLF shares. JPMorgan Chase & Co. reaffirmed an "underweight" rating on shares of Wolfspeed in a report on Friday, May 9th. Piper Sandler reduced their target price on Wolfspeed from $10.00 to $6.00 and set an "overweight" rating for the company in a report on Friday, May 9th. Finally, Citigroup reaffirmed a "sell" rating and set a $3.00 target price (down from $7.00) on shares of Wolfspeed in a report on Friday, May 9th. Four equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $9.80.

Wolfspeed Stock Performance

Shares of WOLF stock traded down $0.10 during trading on Thursday, reaching $1.20. The company had a trading volume of 7,434,321 shares, compared to its average volume of 8,257,312. The firm's 50 day simple moving average is $1.34 and its two-hundred day simple moving average is $2.84. The company has a debt-to-equity ratio of 30.65, a current ratio of 0.36 and a quick ratio of 3.90. Wolfspeed has a one year low of $0.39 and a one year high of $17.45. The company has a market capitalization of $186.98 million, a PE ratio of -0.11 and a beta of 1.23.

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.