Wolfspeed (NYSE:WOLF) Sets New 1-Year High - What's Next?

Key Points

• Wolfspeed's share price reached a new 52-week high of $19.80, reflecting a significant increase of 1,137.2% from its previous close of $1.21.
• The company has a market capitalization of $2.34 billion, with a price-to-earnings ratio of -1.33 and usage of high leverage indicated by a debt-to-equity ratio of 30.65.
• Institutional investment in Wolfspeed is growing, with firms like GAMMA Investing LLC increasing their stake by 593.7% during the first quarter.

Wolfspeed (NYSE:WOLF - )'s share price hit a new 52-week high during trading on Monday . The company traded as high as $19.80 and last traded at $10.18, with a volume of 863914 shares changing hands. The stock had previously closed at $1.21.

Wolfspeed Stock Up 1,137.2%

The business's fifty day moving average price is $1.61 and its 200 day moving average price is $2.22. The firm has a market capitalization of $2.34 billion, a price-to-earnings ratio of -1.33 and a beta of 1.29. The company has a current ratio of 0.36, a quick ratio of 0.30 and a debt-to-equity ratio of 30.65.

Hedge Funds Weigh In On Wolfspeed

Several institutional investors have recently bought and sold shares of WOLF. GAMMA Investing LLC increased its stake in Wolfspeed by 593.7% in the 1st quarter. GAMMA Investing LLC now owns 52,503 shares of the company's stock valued at $161,000 after buying an additional 44,934 shares during the period. Rhumbline Advisers boosted its position in shares of Wolfspeed by 10.8% during the 1st quarter. Rhumbline Advisers now owns 342,505 shares of the company's stock worth $1,048,000 after purchasing an additional 33,361 shares in the last quarter. Green Alpha Advisors LLC boosted its position in shares of Wolfspeed by 215.5% in the 1st quarter. Green Alpha Advisors LLC now owns 71,210 shares of the company's stock worth $218,000 after buying an additional 48,636 shares in the last quarter. Yousif Capital Management LLC boosted its position in shares of Wolfspeed by 16.8% in the 1st quarter. Yousif Capital Management LLC now owns 56,559 shares of the company's stock worth $173,000 after buying an additional 8,137 shares in the last quarter. Finally, SG Americas Securities LLC boosted its position in shares of Wolfspeed by 422.0% in the 1st quarter. SG Americas Securities LLC now owns 533,965 shares of the company's stock worth $1,634,000 after buying an additional 431,680 shares in the last quarter.

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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