Credo Technology Group Holding Ltd (NASDAQ: CRDO) is 24.29% higher on its value in year-to-date trading and has touched a low of $8.61 and a high of $18.00 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The CRDO stock was last observed hovering at around $14.48 in the last trading session, with the day’s loss setting it 0.0% off its average median price target of $18.00 for the next 12 months. It is also 27.6% off the consensus price target high of $20.00 offered by 8 analysts, but current levels are 3.47% higher than the price target low of $15.00 for the same period.
Currently trading at $14.48, the stock is 3.03% and 15.88% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.35 million and changing 0.00% at the moment leaves the stock 11.82% off its SMA200. CRDO registered a gain of 44.66% in past 6-months.
The stock witnessed a 11.90% loss in the last 1 month and extending the period to 3 months gives it a -5.97%, and is 0.49% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 4.15% over the week and 4.77% over the month.
Credo Technology Group Holding Ltd (CRDO) has around 382 employees, a market worth around $2.04B and $142.20M in sales. Fwd P/E is 29.79. Profit margin for the company is -6.80%. Distance from 52-week low is 68.18% and -19.56% from its 52-week high. The company has generated returns on investments over the last 12 months (-6.60%).
Credo Technology Group Holding Ltd (CRDO) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for Credo Technology Group Holding Ltd (CRDO) is a “Buy”. 8 analysts offering their recommendations for the stock have an average rating of 1.70, where 0 rate it as a Hold and 0 think it is a “Overweight”. 8 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.
Credo Technology Group Holding Ltd is expected to release its quarterly report on 03/09/2023.The EPS is expected to shrink by -27.60% this year
Credo Technology Group Holding Ltd (CRDO) Top Institutional Holders
The shares outstanding are 145.08M, and float is at 104.07M with Short Float at 10.49%.
Credo Technology Group Holding Ltd (CRDO) Insider Activity
The most recent transaction is an insider sale by Fleming Daniel W., the company’s Chief Financial Officer. SEC filings show that Fleming Daniel W. sold 56,250 shares of the company’s common stock on Nov 15 at a price of $15.01 per share for a total of $0.84 million. Following the sale, the insider now owns 0.54 million shares.
Credo Technology Group Holding Ltd disclosed in a document filed with the SEC on Nov 15 that Lam Yat Tung (Chief Operating Officer) sold a total of 150,000 shares of the company’s common stock. The trade occurred on Nov 15 and was made at $15.19 per share for $2.28 million. Following the transaction, the insider now directly holds 3.62 million shares of the CRDO stock.
Still, SEC filings show that on Nov 15, Lam Yat Tung (Chief Operating Officer) disposed off 5,000 shares at an average price of $15.01 for $75044.0. The insider now directly holds 3,335,119 shares of Credo Technology Group Holding Ltd (CRDO).