The stock is trading at $33.90 which is well above the 50 day moving average of $27.68 and which is quite a bit above the 200 day moving average of $25.10. The 50 day moving average moved up $6.22 and the 200 day average went up by +35.09%. Trading volume for Cree, Inc. was 2,702K in the last trading session. Shares saw a steep increase in trading volume of 134.48% over the normal average daily volume.
Investors are feeling more bearish of late looking at the change in short interest. The stock saw a rise in short interest of 5.26% as of the latest report on September 29, 2017. Short shares grew 685,827 over that timeframe. The days to cover decreased to 11.0 and the percentage of shorted shares is 0.14% as of September 29.
Additionally, here are a few investment firms who have increased or decreased their stake in (CREE). As of quarter end Louisiana State Employees Retirement System had acquired a total of 700 shares growing its position 2.8%. The value of the investment in (CREE) went from $626,000 to $736,000 increasing 17.6% quarter over quarter. Bank Of Montreal /can/ grew its position by buying 85 shares an increase of 566.7% as of 09/30/2017. Bank Of Montreal /can/ currently owns 100 shares valued at $3,000. The total value of its holdings increased inf%.
As of the end of the quarter Mutual Of America Capital Management LLC had bought 2,672 shares growing its holdings by 3.4%. The value of the investment in Cree, Inc. increased from $1,919,000 to $2,269,000 a change of 18.2% since the last quarter. State Treasurer State Of Michigan downsized its investment by shedding 3,400 shares a decrease of 8.5% in the quarter. State Treasurer State Of Michigan now holds 36,700 shares worth $1,035,000. The value of the position overall is up by 4.8%.
On August 23 the company was rated “Underweight” in a report from Stephens & Co. down from the previous “Equal-Weight” rating. On October 6, 2017 the stock rating was set at “Underweight” by JP Morgan a cut from the previous “Neutral” rating.
October 18 investment analysts at Bank of America made no change to the stock rating of “Neutral” and raised the price expectation to $32.00 from $26.00. On October 19 the company was changed to “Sell” according to a Williams Capital report which was a cut from the previous “Buy” rating.
As of the latest earnings report the EPS was $-1.22 and is projected to be $0.13 for the current year with 97,810,000 shares currently outstanding. Analysts expect next quarter’s EPS to be $0.01 with next year’s EPS anticipated to be $0.55.
Cree, Inc., launched on July 14, 1987, is a manufacturer of lighting-class light emitting diode (LED) products, lighting products and semiconductor products for power and radio-frequency (RF) applications. The Business’s products are focused for applications, such as indoor and outdoor lighting, video displays, transportation, electronic signs and signals, power supplies, inverters and wireless systems. The Company has three segments: Lighting Products, LED Products, and Power and RF Products. The Business’s Lighting Products segment offers LED lighting systems and bulbs. The Business’s LED Products segment offers LED components, LED chips and silicon carbide (SiC) materials. The Business’s Power and RF Products segment offers power devices and RF devices..