Moreover, the 36-month beta value for CRDO is 2.23. Analysts have varying opinions on the stock, with 9 analysts rating it as a “buy,” 2 as “overweight,” 0 as “hold,” and 1 as “sell.”
The public float for CRDO is 133.46M and currently, short sellers hold a 4.44% of that float. On November 13, 2024, CRDO’s average trading volume was 2.51M shares.
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CRDO) stock’s latest price update
The stock price of Credo Technology Group Holding Ltd (NASDAQ: CRDO) has plunged by -0.06 when compared to previous closing price of 46.48, but the company has seen a 10.99% gain in its stock price over the last five trading sessions. businesswire.com reported 2024-10-14 that SAN JOSE, Calif.–(BUSINESS WIRE)–Credo Announces PCI Express 6 /7, Compute Express Link CXL 3.x Retimers, and AEC PCI Express Product Line at OCP Summit 2024.
CRDO’s Market Performance
Credo Technology Group Holding Ltd (CRDO) has seen a 10.99% rise in stock performance for the week, with a 21.76% gain in the past month and a 61.68% surge in the past quarter. The volatility ratio for the week is 5.17%, and the volatility levels for the past 30 days are at 5.12% for CRDO. The simple moving average for the last 20 days is 12.92% for CRDO stock, with a simple moving average of 72.03% for the last 200 days.
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 “Buy.” The predicted price for CRDO in the upcoming period, according to TD Cowen is $40 based on the research report published on July 15, 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 $35, previously predicting the price at $24. The rating they have provided for CRDO stocks is “Buy” according to the report published on June 25th, 2024.
TD Cowen gave a rating of “Market Perform” to CRDO, setting the target price at $24 in the report published on February 28th of the current year.
CRDO Trading at 33.81% 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 -5.09% of loss for the given period.
Volatility was left at 5.12%, however, over the last 30 days, the volatility rate increased by 5.17%, as shares surge +27.68% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +46.85% upper at present.
During the last 5 trading sessions, CRDO rose by +10.99%, which changed the moving average for the period of 200-days by +119.62% in comparison to the 20-day moving average, which settled at $41.14. In addition, Credo Technology Group Holding Ltd saw 138.57% 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 YatTung Lam, who proposed sale 30,000 shares at the price of $46.48 back on Nov 12 ’24. After this action, YatTung Lam now owns shares of Credo Technology Group Holding Ltd, valued at $1,394,400 using the latest closing price.
Evelyn Job & April Foundation, the Director of Credo Technology Group Holding Ltd, proposed sale 15,000 shares at $46.48 during a trade that took place back on Nov 12 ’24, which means that Evelyn Job & April Foundation is holding shares at $697,200 based on the most recent closing price.
Stock Fundamentals for CRDO
Current profitability levels for the company are sitting at:
- -0.17 for the present operating margin
- 0.59 for the gross margin
The net margin for Credo Technology Group Holding Ltd stands at -0.12. The total capital return value is set at -0.06. Equity return is now at value -5.82, with -5.04 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 0.05.
Currently, EBITDA for the company is -21.76 million with net debt to EBITDA at 3.59. When we switch over and look at the enterprise to sales, we see a ratio of 35.05. The receivables turnover for the company is 2.26for trailing twelve months and the total asset turnover is 0.34. The liquidity ratio also appears to be rather interesting for investors as it stands at 7.81.
Conclusion
To wrap up, the performance of Credo Technology Group Holding Ltd (CRDO) has been better in recent times. The stock has received a bullish of “buy” and “hold” ratings from analysts. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
