As the world becomes increasingly uncertain, Credo Technology Group Holding Ltd (CRDO) offers stability

Credo Technology Group Holding Ltd (NASDAQ: CRDO) closed the day trading at 11.84 up 0.85% from the previous closing price of $11.74. In other words, the price has increased by $+0.10 from its previous closing price. On the day, 1926533 shares were traded. CRDO reached its highest trading level at $11.97 during the session, while it also had its lowest trading level at $11.37.

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Ratios:

For a better understanding of CRDO, let’s look at its different ratios. For the most recent quarter (mrq), Quick Ratio is recorded 7.30 and its Current Ratio is at 8.10. In the meantime, Its Debt-to-Equity ratio is 0.00 whereas as Long-Term Debt/Eq ratio is at 0.00.

Upgrades & Downgrades

Insider Transactions:

The insider trade also gives investors a glimpse into the future direction of stock prices, which can be beneficial to investors. A recent insider transaction in this stock occurred on Sep 09 when Thorngate-Gottlund Adam sold 8,115 shares for $12.59 per share. The transaction valued at 102,188 led to the insider holds 264,730 shares of the business.

Thorngate-Gottlund Adam sold 1,560 shares of CRDO for $19,830 on Sep 08. The General Counsel & Secretary now owns 272,845 shares after completing the transaction at $12.71 per share. On Sep 07, another insider, Fleming Daniel W., who serves as the Chief Financial Officer of the company, sold 6,175 shares for $12.93 each. As a result, the insider received 79,867 and left with 543,825 shares of the company.

Valuation Measures:

For the stock, the TTM Price-to-Sale (P/S) ratio is 12.54 while its Price-to-Book (P/B) ratio in mrq is 5.02.

Stock Price History:

Over the past 52 weeks, CRDO has reached a high of $18.00, while it has fallen to a 52-week low of $8.61. The 50-Day Moving Average of the stock is 13.63, while the 200-Day Moving Average is calculated to be 13.05.

Shares Statistics:

Over the past 3-months, CRDO traded about 1.47M shares per day on average, while over the past 10 days, CRDO traded about 3.82M shares per day. A total of 145.08M shares are outstanding, with a floating share count of 95.85M. Insiders hold about 11.50% of the company’s shares, while institutions hold 28.70% stake in the company. Shares short for CRDO as of Jul 14, 2022 were 7.09M with a Short Ratio of 4.05, compared to 5.76M on Jun 14, 2022. Therefore, it implies a Short% of Shares Outstanding of 4.88% and a Short% of Float of 7.11%.

Earnings Estimates

Current recommendations for the stock of the company come from 8 analysts. The consensus estimate for the next quarter is $0.03, with high estimates of $0.04 and low estimates of $0.03.

Analysts are recommending an EPS of between $0.18 and $0.13 for the fiscal current year, implying an average EPS of $0.15. EPS for the following year is $0.5, with 8 analysts recommending between $0.53 and $0.47.

Revenue Estimates

A total of 8 analysts have provided revenue estimates for CRDO’s current fiscal year. The highest revenue estimate was $212.07M, while the lowest revenue estimate was $199.98M, resulting in an average revenue estimate of $203.49M. In the same quarter a year ago, actual revenue was $106.48M, up 91.10% from the average estimate. Based on 8 analysts’ estimates, the company’s revenue will be $310.33M in the next fiscal year. The high estimate is $330.94M and the low estimate is $302.5M. The average revenue growth estimate for next year is up 52.50% from the average revenue estimate for this year.