Aequim Alternative Investments LP Acquires 215,343 Shares of Wolfspeed, Inc. (NYSE:WOLF)

Aequim Alternative Investments LP lifted its position in shares of Wolfspeed, Inc. (NYSE:WOLF - Free Report) by 109.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 412,179 shares of the company's stock after buying an additional 215,343 shares during the quarter. Aequim Alternative Investments LP owned approximately 0.32% of Wolfspeed worth $2,745,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Jones Financial Companies Lllp boosted its position in Wolfspeed by 1,240.6% in the 4th quarter. Jones Financial Companies Lllp now owns 3,834 shares of the company's stock valued at $26,000 after buying an additional 3,548 shares during the last quarter. R Squared Ltd purchased a new stake in Wolfspeed during the 4th quarter worth approximately $28,000. Steward Partners Investment Advisory LLC raised its position in shares of Wolfspeed by 192.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,429 shares of the company's stock valued at $29,000 after purchasing an additional 2,912 shares in the last quarter. KBC Group NV boosted its stake in shares of Wolfspeed by 76.5% during the 4th quarter. KBC Group NV now owns 6,064 shares of the company's stock valued at $40,000 after buying an additional 2,629 shares during the last quarter. Finally, Allworth Financial LP grew its position in shares of Wolfspeed by 38.1% during the fourth quarter. Allworth Financial LP now owns 7,060 shares of the company's stock worth $44,000 after buying an additional 1,949 shares in the last quarter.

Insider Buying and Selling

In other Wolfspeed news, CFO Neill Reynolds sold 13,909 shares of the company's stock in a transaction that occurred on Monday, April 28th. The shares were sold at an average price of $3.99, for a total value of $55,496.91. Following the completion of the sale, the chief financial officer now owns 195,257 shares of the company's stock, valued at approximately $779,075.43. This represents a 6.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.84% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on WOLF shares. The Goldman Sachs Group lowered their price target on Wolfspeed from $15.00 to $8.00 and set a "buy" rating for the company in a report on Wednesday, April 2nd. Canaccord Genuity Group reduced their target price on shares of Wolfspeed from $18.00 to $10.00 and set a "buy" rating for the company in a research note on Thursday, January 30th. Susquehanna cut their price target on Wolfspeed from $11.00 to $7.00 and set a "neutral" rating on the stock in a report on Wednesday, January 22nd. Piper Sandler dropped their price target on Wolfspeed from $18.00 to $10.00 and set an "overweight" rating on the stock in a report on Thursday, January 30th. Finally, Bank of America reduced their price objective on shares of Wolfspeed from $9.50 to $6.00 and set an "underperform" rating for the company in a research note on Thursday, January 30th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $12.17.

Wolfspeed Price Performance

Shares of WOLF traded up $0.28 during trading hours on Thursday, hitting $4.39. The stock had a trading volume of 13,272,076 shares, compared to its average volume of 14,270,384. The company's fifty day moving average is $3.92 and its two-hundred day moving average is $6.68. Wolfspeed, Inc. has a 52 week low of $2.06 and a 52 week high of $30.86. The stock has a market capitalization of $560.66 million, a price-to-earnings ratio of -0.57 and a beta of 1.62. The company has a debt-to-equity ratio of 17.26, a current ratio of 3.15 and a quick ratio of 2.47.

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.