Investors Purchase Large Volume of Wolfspeed Put Options (NYSE:WOLF)

Key Points

• Wolfspeed saw an unusual spike in options trading with investors purchasing 124,309 put options, marking a 15% increase from the average daily volume.
• Institutional investments have increased, with firms like MAI Capital Management boosting their stake in Wolfspeed by 894.9%, reflecting growing interest in the company.
• The stock price of Wolfspeed is currently at $2.02, down from a yearly high of $17.45, highlighting significant volatility in its market performance.

Wolfspeed (NYSE:WOLF - ) was the target of some unusual options trading activity on Tuesday. Investors bought 124,309 put options on the stock. This represents an increase of 15% compared to the average daily volume of 108,192 put options.

Institutional Trading of Wolfspeed

Institutional investors and hedge funds have recently bought and sold shares of the business. N.E.W. Advisory Services LLC purchased a new position in shares of Wolfspeed in the 1st quarter valued at about $28,000. Beacon Capital Management LLC acquired a new stake in shares of Wolfspeed during the first quarter worth approximately $31,000. American Trust acquired a new position in Wolfspeed in the fourth quarter worth $68,000. Wealthfront Advisers LLC acquired a new position in Wolfspeed during the 1st quarter valued at about $32,000. Finally, MAI Capital Management lifted its position in Wolfspeed by 894.9% in the first quarter. MAI Capital Management now owns 10,815 shares of the company's stock worth $33,000 after purchasing an additional 9,728 shares during the period.

Wolfspeed Price Performance

NYSE WOLF traded down $0.23 during mid-day trading on Tuesday, hitting $2.02. The stock had a trading volume of 22,404,558 shares, compared to its average volume of 39,026,660. Wolfspeed has a twelve month low of $0.39 and a twelve month high of $17.45. The company has a debt-to-equity ratio of 30.65, a current ratio of 0.36 and a quick ratio of 0.30. The stock has a market capitalization of $315.29 million, a price-to-earnings ratio of -0.18 and a beta of 1.29. The firm's 50 day moving average is $1.59 and its 200 day moving average is $2.31.

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.

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