Cree (CREE) has risen sharply, recording gains of 0.51% in the past 4 weeks. However, the stock has corrected -0.61% in the past 1 week, providing a good buying opportunity on dips. Cree (CREE) : During the past 4 weeks, traders have been relatively bearish on Cree (CREE), hence the stock is down -0.52% when compared to the S&P 500 during the same period. However, in the past 1 week, the selling of the stock is down by -0.66% relative to the S&P 500.
The stock has recorded a 20-day Moving Average of 1.51% and the 50-Day Moving Average is 6.49%. Cree (NASDAQ:CREE): On Fridays trading session , Opening price of the stock was $27.65 with an intraday high of $27.88. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $27.53. However, the stock managed to close at $27.76, a loss of 0.25% for the day. On the previous day, the stock had closed at $27.83. The total traded volume of the day was 501,995 shares.
The company Insiders own 2.3% of Cree shares according to the proxy statements. Institutional Investors own 87.02% of Cree shares. Also, In a research note released to the investors, Deutsche Bank maintains its rating on Cree (NASDAQ:CREE).The analysts at the brokerage house have a current rating of Hold on the shares. In a recent information released to the investors, Deutsche Bank raises the new price target from $23 per share to $26 per share. The rating by the firm was issued on July 15, 2016.
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.