Twin Tree Management LP Takes Position in Wolfspeed $WOLF

Twin Tree Management LP purchased a new stake in Wolfspeed (NYSE:WOLF) in the 1st quarter, according to its most recent disclosure with the SEC. The fund purchased 13,810 shares of the company’s stock, valued at approximately $42,000.

Several other hedge funds and other institutional investors have also modified their holdings of WOLF. N.E.W. Advisory Services LLC acquired a new position in shares of Wolfspeed in the 1st quarter valued at about $28,000. Beacon Capital Management LLC acquired a new position in shares of Wolfspeed in the 1st quarter valued at about $31,000. Wealthfront Advisers LLC acquired a new position in shares of Wolfspeed in the 1st quarter valued at about $32,000. SBI Securities Co. Ltd. boosted its holdings in shares of Wolfspeed by 39.7% in the 1st 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 position in shares of Wolfspeed in the 1st quarter valued at about $49,000.

Analyst Ratings Changes

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

Wolfspeed Trading Up 3.6%

Shares of NYSE:WOLF opened at $1.23 on Tuesday. The company has a market cap of $192.93 million, a PE ratio of -0.11 and a beta of 1.29. The company’s 50-day moving average price is $1.36 and its 200 day moving average price is $2.74. Wolfspeed has a fifty-two week low of $0.39 and a fifty-two week high of $17.45. The company has a quick ratio of 0.30, a current ratio of 0.36 and a debt-to-equity ratio of 30.65.

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.