Wolfspeed Stock Brushes Off Brand-New Bull Note

The stock is still above last month's post-earnings bull gap

Deputy Editor
Sep 13, 2022 at 10:34 AM
facebook X logo linkedin

Wolfspeed Inc (NYSE:WOLF) is down 1.3% at $115.29 at last glance, pulling back from its premarket gains despite a bull note from Evercore ISI. The firm initiated coverage on the stock with an "outperform" rating, calling the equity one of the best ways to invest in the Electric Vehicle (EV) transition. Just last week, the semiconductor name announced a new U.S. factory to keep up with demand. 

Wolfspeed stock jumped above most of its significant moving averages during its mid-August post-earnings bull gap, and the $105 level appears to be emerging as support. Today, the stock's 20-day moving average appears to be keeping losses in check, though this dip has it is grappling with its year-to-date breakeven level. 

Of the now 13 analysts in coverage, eight carry a "strong buy" rating, five a "hold," and one "sell." The 12-month consensus price target of $114.97 is roughly in line with current levels. 

Though shorts have started to buy back their bets, short interest still represents 7.7% of the stock's available float. It would take five days to cover, at WOLF's average pace of trading. 


Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI