Credo Technology Group Holding Ltd (NASDAQ: CRDO) is -13.48% lower on its value in year-to-date trading and has touched a low of $16.82 and a high of $86.69 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The CRDO stock was last observed hovering at around $55.60 in the last trading session, with the day’s gains setting it 2.55%.
Currently trading at $58.15, the stock is -20.51% and -10.24% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 8.56 million and changing 4.59% at the moment leaves the stock 53.73% off its SMA200. CRDO registered 169.96% gain for a year compared to 6-month gain of 103.46%. The firm has a 50-day simple moving average (SMA 50) of $64.5496 and a 200-day simple moving average (SMA200) of $37.640526.
The stock witnessed a -18.35% loss in the last 1 month and extending the period to 3 months gives it a 49.06%, and is -28.67% down 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 11.28% over the week and 7.70% over the month.
Credo Technology Group Holding Ltd (CRDO) has around 500 employees, a market worth around $9.72B and $245.59M in sales. Fwd P/E is 57.65. Profit margin for the company is -9.70%. Distance from 52-week low is 245.72% and -32.92% from its 52-week high. The company has generated returns on investments over the last 12 months (-4.10%).
with sales reaching $120.32M over the same period.The EPS is expected to grow by 445.29% this year, but quarterly earnings will post 101.51% year-over-year. Quarterly sales are estimated to grow 126.76% in year-over-year returns.
Credo Technology Group Holding Ltd (CRDO) Top Institutional Holders
360.0 institutions hold shares in Credo Technology Group Holding Ltd (CRDO), with institutional investors hold 91.39% of the company’s shares. The shares outstanding are 167.16M, and float is at 136.70M with Short Float at 5.69%. Institutions hold 76.89% of the Float.
The top institutional shareholder in the company is VANGUARD GROUP INC with over 15.15 million shares valued at $483.96 million. The investor’s holdings represent 9.2574% of the CRDO Shares outstanding. As of 2024-06-30, the second largest holder is BLACKROCK INC. with 14.19 million shares valued at $453.31 million to account for 8.671 of the shares outstanding. The other top investors are JPMORGAN CHASE & CO which holds 12.23 million shares representing 7.4078% and valued at over $390.73 million, while CAPITAL RESEARCH GLOBAL INVESTORS holds 3.3759 of the shares totaling 5.53 million with a market value of $176.49 million.
Credo Technology Group Holding Ltd (CRDO) Insider Activity
The most recent transaction is an insider sale by Cheng Chi Fung, the company’s Chief Technology Officer. SEC filings show that Cheng Chi Fung sold 60,000 shares of the company’s common stock on Jan 21 ’25 at a price of $80.57 per share for a total of $4.83 million. Following the sale, the insider now owns 8.27 million shares.
Credo Technology Group Holding Ltd disclosed in a document filed with the SEC on Jan 21 ’25 that Lam Yat Tung (Chief Operating Officer) sold a total of 100,000 shares of the company’s common stock. The trade occurred on Jan 21 ’25 and was made at $80.57 per share for $8.06 million. Following the transaction, the insider now directly holds 100000.0 shares of the CRDO stock.
Still, SEC filings show that on Jan 21 ’25, Lam Yat Tung (Chief Operating Officer) disposed off 10,000 shares at an average price of $80.59 for $0.81 million. The insider now directly holds 2,825,621 shares of Credo Technology Group Holding Ltd (CRDO).
