Somewhat Positive Press Coverage Somewhat Unlikely to Impact Cree (CREE) Stock Price
News headlines about Cree (NASDAQ:CREE) have been trending somewhat positive this week, Accern reports. The research firm identifies negative and positive press coverage by analyzing more than twenty million news and blog sources. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Cree earned a news impact score of 0.09 on Accern’s scale. Accern also gave news coverage about the LED producer an impact score of 45.8524303976643 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the near future.
Here are some of the news articles that may have effected Accern’s rankings:
- RCMP calls death of man found in slough on Onion Lake Cree Nation suspicious (ca.news.yahoo.com)
- Remains found in smoldering car on Ahtahkakoop Cree Nation confirmed as those of missing man (cbc.ca)
- In the Big Chair – Cree Lawson of Arrivalist (phocuswire.com)
- Montreal-based Oji-Cree artist’s work confronts trauma of residential schools (cbc.ca)
- Man found dead in slough at Onion Lake Cree Nation (cbc.ca)
A number of equities research analysts have commented on CREE shares. BidaskClub raised shares of Cree from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, April 11th. Canaccord Genuity lifted their target price on shares of Cree from $26.00 to $31.00 and gave the stock a “hold” rating in a research report on Wednesday, January 24th. Cowen set a $37.00 target price on shares of Cree and gave the stock a “hold” rating in a research report on Tuesday, March 6th. ValuEngine downgraded shares of Cree from a “buy” rating to a “hold” rating in a research report on Tuesday, May 1st. Finally, Tigress Financial downgraded shares of Cree from a “strong-buy” rating to a “neutral” rating in a research report on Tuesday, January 23rd. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Hold” and an average target price of $37.20.
Cree (NASDAQ:CREE) last issued its quarterly earnings data on Tuesday, April 24th. The LED producer reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.03. Cree had a negative net margin of 17.50% and a negative return on equity of 1.10%. The firm had revenue of $355.96 million during the quarter, compared to the consensus estimate of $347.38 million. During the same quarter in the previous year, the firm posted $0.01 EPS. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. sell-side analysts forecast that Cree will post -0.24 earnings per share for the current fiscal year.
In other news, insider Michael E. Mcdevitt sold 7,000 shares of the business’s stock in a transaction on Thursday, April 26th. The shares were sold at an average price of $39.36, for a total transaction of $275,520.00. Following the completion of the sale, the insider now owns 169,924 shares of the company’s stock, valued at approximately $6,688,208.64. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.10% of the company’s stock.
Cree, Inc provides lighting-class light emitting diode (LED), lighting, and semiconductor products for power and radio-frequency (RF) applications in the United States, China, Europe, South Korea, Japan, Malaysia, Taiwan, and internationally. Its Lighting Products segment offers LED lighting systems and bulbs for use in settings, such as office and retail space, restaurants and hospitality, schools and universities, manufacturing, healthcare, airports, municipal, residential, street lighting and parking structures, and other applications.
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