Wolfspeed (NYSE:WOLF) Shares Gap Down - Time to Sell?

Wolfspeed, Inc. (NYSE:WOLF - Get Free Report)'s share price gapped down before the market opened on Friday . The stock had previously closed at $35.42, but opened at $34.21. Wolfspeed shares last traded at $34.39, with a volume of 933,385 shares traded.Wall Street Analysts Forecast GrowthAmong the Market’s Most Shorted: 2 Firms With +40% Short InterestSeparately, Weiss Ratings reissued a "sell (e+)" rating on shares of Wolfspeed in a research report on Saturday, September 27th. Four equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Reduce" and a consensus target price of $9.80.Get Our Latest Stock Analysis on WolfspeedWolfspeed Stock Down 1.2%3 Stocks Under $10 That Could Turn Risk Into RewardThe stock has a market cap of $904.14 million and a price-to-earnings ratio of -3.10. The company's 50-day moving average is $6.21 and its 200-day moving average is $3.58. Institutional Inflows and OutflowsSeveral hedge funds have recently added to or reduced their stakes in WOLF. Vanguard Group Inc. grew its stake in Wolfspeed by 18.8% during the first quarter. Vanguard Group Inc. now owns 18,913,793 shares of the company's stock worth $57,876,000 after buying an additional 2,989,503 shares during the last quarter. Two Seas Capital LP bought a new stake in shares of Wolfspeed during the second quarter valued at approximately $962,000. Shah Capital Management bought a new stake in shares of Wolfspeed during the first quarter valued at approximately $6,586,000. Neuberger Berman Group LLC grew its stake in shares of Wolfspeed by 72.7% during the first quarter. Neuberger Berman Group LLC now owns 4,329,584 shares of the company's stock valued at $13,723,000 after purchasing an additional 1,822,958 shares during the last quarter. Finally, Jump Financial LLC acquired a new position in Wolfspeed in the first quarter valued at approximately $4,402,000. Wolfspeed Company Profile (Get Free Report)3 Beaten-Down Tech Stocks That Shouldn’t Be OverlookedWolfspeed, 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.Featured StoriesFive stocks we like better than WolfspeedDividend King Proctor & Gamble Is A Buy On Post-Earnings Weakness How Gamers Are Powering Microsoft’s Next Wave of GrowthUnveiling The Power Of VWAP: A Key Indicator For TradersBig Gains Alert: These 3 Tech Stocks Are Surging This Month3 Stocks to Protect Your Portfolio from the Coronavirus Contagion Coca-Cola Stock Dips—Is CELH the Growth Your Portfolio Needs?This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in Wolfspeed Right Now?Before you consider Wolfspeed, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Wolfspeed wasn't on the list.While Wolfspeed currently has a Reduce rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here