The stock of Credo Technology Group Holding Ltd (CRDO) has gone up by 42.98% for the week, with a 45.35% rise in the past month and a 174.48% rise in the past quarter. The volatility ratio for the week is 9.26%, and the volatility levels for the past 30 days are 7.00% for CRDO. The simple moving average for the last 20 days is 32.84% for CRDO stock, with a simple moving average of 129.94% for the last 200 days.
Is It Worth Investing in Credo Technology Group Holding Ltd (NASDAQ: CRDO) Right Now?
The 36-month beta value for CRDO is also noteworthy at 2.26. There are mixed opinions on the stock, with 7 analysts rating it as a “buy,” 5 rating it as “overweight,” 0 rating it as “hold,” and 0 rating it as “sell.”
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The public float for CRDO is 133.79M, and at present, short sellers hold a 4.93% of that float. The average trading volume of CRDO on December 09, 2024 was 2.88M shares.
CRDO) stock’s latest price update
Credo Technology Group Holding Ltd (NASDAQ: CRDO)’s stock price has decreased by -7.93 compared to its previous closing price of 74.23. However, the company has seen a 42.98% increase in its stock price over the last five trading sessions. zacks.com reported 2024-12-09 that Does Credo Technology Group Holding Ltd. (CRDO) have what it takes to be a top stock pick for momentum investors?
Analysts’ Opinion of CRDO
Many brokerage firms have already submitted their reports for CRDO stocks, with BofA Securities repeating the rating for CRDO by listing it as a “Buy.” The predicted price for CRDO in the upcoming period, according to BofA Securities is $80 based on the research report published on December 03, 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 $75, previously predicting the price at $45. The rating they have provided for CRDO stocks is “Buy” according to the report published on December 03rd, 2024.
Needham gave a rating of “Buy” to CRDO, setting the target price at $70 in the report published on December 03rd of the current year.
CRDO Trading at 57.85% 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 -9.25% of loss for the given period.
Volatility was left at 7.00%, however, over the last 30 days, the volatility rate increased by 9.26%, as shares surge +41.69% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +116.25% upper at present.
During the last 5 trading sessions, CRDO rose by +42.28%, which changed the moving average for the period of 200-days by +200.93% in comparison to the 20-day moving average, which settled at $51.43. In addition, Credo Technology Group Holding Ltd saw 251.03% 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 WALDEN TECHNOLOGY VENTURES II, who proposed sale 196,201 shares at the price of $72.75 back on Dec 06 ’24. After this action, WALDEN TECHNOLOGY VENTURES II now owns shares of Credo Technology Group Holding Ltd, valued at $14,274,211 using the latest closing price.
William Joseph Brennan, the Officer of Credo Technology Group Holding Ltd, proposed sale 143,880 shares at $70.40 during a trade that took place back on Dec 05 ’24, which means that William Joseph Brennan is holding shares at $10,129,152 based on the most recent closing price.
Stock Fundamentals for CRDO
Current profitability levels for the company are sitting at:
- -0.15 for the present operating margin
- 0.62 for the gross margin
The net margin for Credo Technology Group Holding Ltd stands at -0.1. The total capital return value is set at -0.06. Equity return is now at value -5.19, with -4.56 for asset returns.
Based on Credo Technology Group Holding Ltd (CRDO), the company’s capital structure generated 0.02 points at debt to capital in total, while cash flow to debt ratio is standing at 0.48.
Currently, EBITDA for the company is -22.52 million with net debt to EBITDA at 9.23. When we switch over and look at the enterprise to sales, we see a ratio of 45.06. The receivables turnover for the company is 2.41for trailing twelve months and the total asset turnover is 0.38. The liquidity ratio also appears to be rather interesting for investors as it stands at 10.84.
Conclusion
In summary, Credo Technology Group Holding Ltd (CRDO) has had a better performance as of late. Analysts have bullish opinions on the stock, with some viewing 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.
