Cree (CREE) : The total negative money flow of $0.29 million on Wednesday indicates selling on strength. The inflow of money on upticks was $0.13 million, compared to $0.41 million outflow on downticks, which confirms distribution in the stock. The up to down ratio was 0.31. The negative money flow of $0.1 million in block trades reveals that the informed traders sold the stock on every bit of price strength.The transaction value of block trade on downtick was $0.1 million. The price action in the Cree (CREE) stock suggests that both the bulls and the bears were in equilibrium. The stock traded at $28.57 with a gain of $0.16 , a change of 0.56% over the previous days close. The stock registered 3.44% for the week.
Also, Major Brokerage house, Deutsche Bank maintains its ratings on Cree (NASDAQ:CREE). In the latest research report, Deutsche Bank raises the target price from $23 per share to $26 per share. According to the latest information available, the shares are now rated Hold by the analysts at the agency. The rating by the firm was issued on July 15, 2016.
Cree (NASDAQ:CREE): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $28.36 and $28.30 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $28.71. The buying momentum continued till the end and the stock did not give up its gains. It closed at $28.47, notching a gain of 0.21% for the day. The total traded volume was 727,516 . The stock had closed at $28.41 on the previous day.
The stock has recorded a 20-day Moving Average of 12.77% and the 50-Day Moving Average is 16.78%. In a related news, The Securities and Exchange Commission has divulged that Whitaker Anne Clem, director of Cree Inc, had unloaded 623 shares at an average price of $30 in a transaction dated on February 16, 2016. The total value of the transaction was worth $18,690.
Cree, Inc. is a manufacturer of lighting-class light emitting diode (LED) products, lighting products and semiconductor products for power and radio-frequency (RF) applications. The Companys 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 Companys Lighting Products segment offers LED lighting systems and bulbs. The Companys LED Products segment offers LED components, LED chips and silicon carbide (SiC) materials. The Companys Power and RF Products segment offers power devices and RF devices. The Company designs, manufactures and markets lighting systems for indoor and outdoor applications, with a focus on LED lighting systems for the commercial, industrial and consumer markets.