Citigroup’s Bold Moves in Wolfspeed Stock Shake the Market!

Citigroup Inc, a significant shareholder, made notable transactions involving Wolfspeed Inc stock. They purchased 194,305 shares valued at $5,160,601. Simultaneously, they sold 194,423 shares for $5,089,994.

Recent Updates on WOLF stock

Wolfspeed Inc has experienced mixed options sentiment with recent price movements reflecting both positive and negative investor outlooks. The company’s shares have seen fluctuations, with a recent increase of 4.41% to $30.88, influenced by its Q1 earnings report. Wolfspeed reported a revenue of $197 million, slightly above last year’s $195 million, but faced challenges with a GAAP gross margin of -39% and a GAAP loss per share of $4.12, due to reorganization costs following its emergence from Chapter 11 bankruptcy. The company maintains $926 million in cash, providing financial flexibility for its strategic focus on silicon carbide technologies in high-growth sectors like AI data centers and energy storage. Analysts have adjusted price targets based on these financial results and the company’s restructuring efforts, with expectations of a sequential revenue decline in the next quarter due to market softness and inventory adjustments by customers.

Spark’s Take on WOLF Stock

According to Spark, TipRanks’ AI Analyst, WOLF is a Neutral.

Wolfspeed’s overall stock score is heavily impacted by its poor financial performance, characterized by declining revenues and significant cash flow issues. Technical analysis provides mixed signals, with high volatility and overbought conditions. The valuation is unattractive due to negative earnings and lack of dividends.

To see Spark’s full report on WOLF stock, click here.

More about Wolfspeed Inc

YTD Price Performance: 7.51%

Average Trading Volume: 6,776,032

Current Market Cap: $189.3M