Cree (CREE) : The highest level Cree (CREE) is projected to reach is $30 for the short term and the lowest estimate is at $23. The consolidated price target from 6 rating analysts who initiate coverage on the stock is $27 and the possibility the share price can swing is $3.35.
Cree (CREE) has shown a drop of 14.2% or 1,702,759 shares in the short positions. The bets have increased to 10,273,922 shares on June 30,2016 from 11,976,681 shares on June 15,2016. With respect to the floated shares, the shorts are 10.4%. The days to cover are calculated to be 10, using the standard per day volume of 1,067,988 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 12th.
Also, Pacific Crest initiates coverage on Cree (NASDAQ:CREE).The analysts at the brokerage house have a current rating of Sector Perform on the shares. The rating by the firm was issued on May 13, 2016.
Cree (NASDAQ:CREE): stock turned positive on Thursday. Though the stock opened at $27.38, the bulls momentum made the stock top out at $28.319 level for the day. The stock recorded a low of $26.88 and closed the trading day at $27.74, in the green by 10.61%. The total traded volume for the day was 5,434,351. The stock had closed at $25.08 in the previous days trading.
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.