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Check out this: Credo Technology Group Holding Ltd (CRDO) could be on the verge of a big rally

Credo Technology Group Holding Ltd (NASDAQ: CRDO) is 17.73% 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 $15.00 in the last trading session, with the day’s gains setting it 0.67% off its average median price target of $18.50 for the next 12 months. It is also 21.65% off the consensus price target high of $20.00 offered by 8 analysts, but current levels are 12.94% higher than the price target low of $18.00 for the same period.

Currently trading at $15.67, the stock is 16.21% and 11.74% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.6 million and changing 4.47% at the moment leaves the stock 22.92% off its SMA200. CRDO registered a gain of 39.04% in past 6-months.

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The stock witnessed a 17.64% loss in the last 1 month and extending the period to 3 months gives it a 37.70%, and is 6.31% 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 5.11% over the week and 4.93% over the month.

Credo Technology Group Holding Ltd (CRDO) has around 382 employees, a market worth around $2.22B and $167.20M in sales. Fwd P/E is 38.22. Profit margin for the company is -5.30%. Distance from 52-week low is 82.00% and -12.94% 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 146.01M, and float is at 105.14M with Short Float at 7.65%.

Credo Technology Group Holding Ltd (CRDO) Insider Activity

The most recent transaction is an insider sale by Brennan William Joseph,the company’sPres & Chief Executive Officer. SEC filings show that Brennan William Joseph sold 7,500 shares of the company’s common stock on Jan 19 at a price of $14.76 per share for a total of $0.11 million. Following the sale, the insider now owns 4.24 million shares.

Credo Technology Group Holding Ltd disclosed in a document filed with the SEC on Jan 18 that Cheng Chi Fung (Chief Technology Officer) sold a total of 800 shares of the company’s common stock. The trade occurred on Jan 18 and was made at $15.00 per share for $12000.0. Following the transaction, the insider now directly holds 11.38 million shares of the CRDO stock.

Still, SEC filings show that on Jan 18, Brennan William Joseph (Pres & Chief Executive Officer) disposed off 15,000 shares at an average price of $14.93 for $0.22 million. The insider now directly holds 4,245,000 shares of Credo Technology Group Holding Ltd (CRDO).

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