Wall Street analytical firm Nollenberger Capital launched coverage of Cree on Monday with a “sell” rating.
Cree, a manufacturer of light-emitting diodes, is now rated as a “strong buy” by two firms, a “buy” by two others, a “hold” by five and a “strong sell” by two, according to Thomson First Call.
Cree (Nasdaq: CREE) cut its revenue forecast for quarterly revenues on Dec. 7 by as much as $19 million to between $90 million and 92 million.
Shares were trading down 34 cents, at $16.91, in afternoon trading Monday. Its 52-week low is $15.25; the high is $35.30.