Credo Technology Group Holding Ltd (NASDAQ: CRDO) is 11.97% higher on its value in year-to-date trading and has touched a low of $7.20 and a high of $23.90 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 $21.36 in the last trading session, with the day’s gains setting it 0.44%.
Currently trading at $21.80, the stock is 3.53% and 1.54% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.16 million and changing 2.06% at the moment leaves the stock 21.41% off its SMA200. CRDO registered 141.15% gain for a year compared to 6-month gain of 32.44%. The firm has a 50-day simple moving average (SMA 50) of $19.27 and a 200-day simple moving average (SMA200) of -$97.38.
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The stock witnessed a -3.20% loss in the last 1 month and extending the period to 3 months gives it a 24.36%, and is 2.54% 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 5.46% over the week and 5.02% over the month.
Credo Technology Group Holding Ltd (CRDO) has around 438 employees, a market worth around $3.56B and $164.28M in sales. Fwd P/E is 62.35. Profit margin for the company is -20.59%. Distance from 52-week low is 202.99% and -8.79% from its 52-week high. The company has generated returns on investments over the last 12 months (-6.20%).
Credo Technology Group Holding Ltd quarterly earnings per share for the current quarter are estimated at $0.05 with sales reaching $60.72M over the same period.The EPS is expected to grow by 40.16% this year, but quarterly earnings will post 4.50% year-over-year. Quarterly sales are estimated to grow 89.20% in year-over-year returns.
Credo Technology Group Holding Ltd (CRDO) Top Institutional Holders
251 institutions hold shares in Credo Technology Group Holding Ltd (CRDO), with institutional investors hold 89.87% of the company’s shares. The shares outstanding are 148.65M, and float is at 125.89M with Short Float at 7.94%. Institutions hold 71.22% of the Float.
The top institutional shareholder in the company is Capital Research Global Investors with over 12.63 million shares valued at $218.92 million. The investor’s holdings represent 8.47% of the CRDO Shares outstanding. As of Jun 29, 2023, the second largest holder is Blackrock Inc. with 10.95 million shares valued at $189.96 million to account for 7.35% of the shares outstanding. The other top investors are Vanguard Group Inc which holds 9.58 million shares representing 6.42% and valued at over $166.07 million, while JP Morgan Chase & Company holds 4.93% of the shares totaling 7.35 million with a market value of $127.48 million.
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 15,000 shares of the company’s common stock on Nov 17 ’27 at a price of $17.71 per share for a total of $0.27 million. Following the sale, the insider now owns 3.87 million shares.
Credo Technology Group Holding Ltd disclosed in a document filed with the SEC on Oct 24 ’24 that Brennan William Joseph (Pres & Chief Executive Officer) sold a total of 15,000 shares of the company’s common stock. The trade occurred on Oct 24 ’24 and was made at $14.45 per share for $0.22 million. Following the transaction, the insider now directly holds 3.93 million shares of the CRDO stock.
Still, SEC filings show that on Apr 05 ’24, Brennan William Joseph (Pres & Chief Executive Officer) disposed off 15,000 shares at an average price of $21.72 for $0.33 million. The insider now directly holds 3,007,500 shares of Credo Technology Group Holding Ltd (CRDO).
