Understanding the Recent Fluctuations of Credo Technology Group Holding Ltd’s (CRDO) Stock

In the past week, CRDO stock has gone down by -1.17%, with a monthly decline of -1.87% and a quarterly surge of 13.25%. The volatility ratio for the week is 5.41%, and the volatility levels for the last 30 days are 5.25% for Credo Technology Group Holding Ltd The simple moving average for the last 20 days is 4.93% for CRDO stock, with a simple moving average of 23.34% for the last 200 days.

Is It Worth Investing in Credo Technology Group Holding Ltd (NASDAQ: CRDO) Right Now?

The stock has a 36-month beta value of 1.97. Opinions on the stock are mixed, with 0 analysts rating it as a “buy,” 0 as “overweight,” 0 as “hold,” and 0 as “sell.”

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The public float for CRDO is 125.83M, and at present, short sellers hold a 7.94% of that float. On April 03, 2024, the average trading volume of CRDO was 2.26M shares.

CRDO) stock’s latest price update

Credo Technology Group Holding Ltd (NASDAQ: CRDO)’s stock price has plunge by 3.72relation to previous closing price of 21.26. Nevertheless, the company has seen a -1.17% plunge in its stock price over the last five trading sessions. Seeking Alpha reported 2024-03-12 that Credo Technology provides high-speed connectivity solutions including integrated circuits, Active Electrical Cables, and Serializer and Deserializer Chiplets. Despite volatility in 2023, CRDO has had a strong rebound with a 126% return in the past year. The company is benefitting from the growing demand for high-performance computing in data centers, particularly from US hyperscalers like Microsoft.

Analysts’ Opinion of CRDO

Many brokerage firms have already submitted their reports for CRDO stocks, with TD Cowen repeating the rating for CRDO by listing it as a “Market Perform.” The predicted price for CRDO in the upcoming period, according to TD Cowen is $24 based on the research report published on February 28, 2024 of the current year 2024.

TD Cowen, on the other hand, stated in their research note that they expect to see CRDO reach a price target of $20, previously predicting the price at $16. The rating they have provided for CRDO stocks is “Market Perform” according to the report published on November 30th, 2023.

Barclays gave a rating of “Overweight” to CRDO, setting the target price at $18 in the report published on October 02nd of the previous year.

CRDO Trading at 2.82% from the 50-Day Moving Average

After a stumble in the market that brought CRDO to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -7.74% of loss for the given period.

Volatility was left at 5.25%, however, over the last 30 days, the volatility rate increased by 5.41%, as shares surge +2.37% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +6.11% upper at present.

During the last 5 trading sessions, CRDO fell by -1.17%, which changed the moving average for the period of 200-days by +24.58% in comparison to the 20-day moving average, which settled at $21.04. In addition, Credo Technology Group Holding Ltd saw 13.25% in overturn over a single year, with a tendency to cut further gains.

Insider Trading

Reports are indicating that there were more than several insider trading activities at CRDO starting from Brennan William Joseph, who sale 15,000 shares at the price of $17.71 back on Nov 17 ’27. After this action, Brennan William Joseph now owns 3,867,421 shares of Credo Technology Group Holding Ltd, valued at $265,662 using the latest closing price.

Brennan William Joseph, the Pres & Chief Executive Officer of Credo Technology Group Holding Ltd, sale 15,000 shares at $14.45 during a trade that took place back on Oct 24 ’24, which means that Brennan William Joseph is holding 3,927,421 shares at $216,762 based on the most recent closing price.

Stock Fundamentals for CRDO

Current profitability levels for the company are sitting at:

  • -0.28 for the present operating margin
  • 0.58 for the gross margin

The net margin for Credo Technology Group Holding Ltd stands at -0.21. The total capital return value is set at -0.08. Equity return is now at value -7.61, with -6.70 for asset returns.

Based on Credo Technology Group Holding Ltd (CRDO), the company’s capital structure generated 0.03 points at debt to capital in total, while cash flow to debt ratio is standing at 1.16. The debt to equity ratio resting at 0.03. The interest coverage ratio of the stock is 26.76.

Currently, EBITDA for the company is -16.42 million with net debt to EBITDA at 1.94. When we switch over and look at the enterprise to sales, we see a ratio of 21.42. The receivables turnover for the company is 2.62for trailing twelve months and the total asset turnover is 0.28. The liquidity ratio also appears to be rather interesting for investors as it stands at 12.72.

Conclusion

To sum up, Credo Technology Group Holding Ltd (CRDO) has seen a mixed performance recently. Analysts have differing views on the stock, with some seeing it as a “buy” and others as a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.

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