The stock of Credo Technology Group Holding Ltd (CRDO) has seen a 2.27% increase in the past week, with a 53.04% gain in the past month, and a 31.02% flourish in the past quarter. The volatility ratio for the week is 4.31%, and the volatility levels for the past 30 days are at 5.81% for CRDO. The simple moving average for the past 20 days is 10.94% for CRDO’s stock, with a 50.81% simple moving average for the past 200 days.
Is It Worth Investing in Credo Technology Group Holding Ltd (NASDAQ: CRDO) Right Now?
CRDO has 36-month beta value of 2.19. Analysts have mixed views on the stock, 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 127.42M, and currently, short sellers hold a 8.28% ratio of that float. The average trading volume of CRDO on June 25, 2024 was 2.06M shares.
CRDO) stock’s latest price update
Credo Technology Group Holding Ltd (NASDAQ: CRDO) has seen a rise in its stock price by 7.11 in relation to its previous close of 27.29. However, the company has experienced a 2.27% gain in its stock price over the last five trading sessions. investors.com reported 2024-06-25 that Credo Technology won an upgrade to buy from a TD Cowen analyst, who cited an expected jump in revenue. Credo stock has advanced 40% in 2024 amid rising expectations.
Analysts’ Opinion of CRDO
TD Cowen, on the other hand, stated in their research note that they expect to see CRDO reach a price target of $24, previously predicting the price at $20. The rating they have provided for CRDO stocks is “Market Perform” according to the report published on February 28th, 2024.
TD Cowen gave a rating of “Market Perform” to CRDO, setting the target price at $20 in the report published on November 30th of the previous year.
CRDO Trading at 36.03% 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 -2.19% of loss for the given period.
Volatility was left at 5.81%, however, over the last 30 days, the volatility rate increased by 4.31%, as shares surge +45.47% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +35.49% upper at present.
During the last 5 trading sessions, CRDO rose by +1.64%, which changed the moving average for the period of 200-days by +75.11% in comparison to the 20-day moving average, which settled at $26.80. In addition, Credo Technology Group Holding Ltd saw 50.13% 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:
- -0.19 for the present operating margin
- 0.6 for the gross margin
The net margin for Credo Technology Group Holding Ltd stands at -0.15. The total capital return value is set at -0.07. Equity return is now at value -6.39, with -5.68 for asset returns.
Currently, EBITDA for the company is -36.29 million with net debt to EBITDA at 1.7. When we switch over and look at the enterprise to sales, we see a ratio of 24.65. The receivables turnover for the company is 2.38for trailing twelve months and the total asset turnover is 0.32. The liquidity ratio also appears to be rather interesting for investors as it stands at 11.88.
Conclusion
To put it simply, Credo Technology Group Holding Ltd (CRDO) has had a better performance in recent times. Analysts have a mixed opinion on the stock, with some rating 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.
