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The price of Credo Technology Group Holding Ltd (NASDAQ: CRDO) closed at $35.38 in the last session, up 0.48% from day before closing price of $35.21. In other words, the price has increased by $0.48 from its previous closing price. On the day, 1.58 million shares were traded. CRDO stock price reached its highest trading level at $35.6 during the session, while it also had its lowest trading level at $33.75.
Ratios:
We take a closer look at CRDO’s different ratios to gain a better understanding of the stock. It provided that stocks Price–to–Cash (P/C) ratio for the trailing twelve months (TTM) is standing at 14.25 whereas its Price-to-Free Cash Flow (P/FCF) for the term is 341.98. For the most recent quarter (mrq), Quick Ratio is recorded 11.30 and its Current Ratio is at 11.88. In the meantime, Its Debt-to-Equity ratio is 0.03 whereas as Long-Term Debt/Eq ratio is at 0.02.
Upgrades & Downgrades
In addition, analysts’ ratings and any changes thereto give investors an idea of the stock’s future direction. In the most recent recommendation for this company, TD Cowen on July 15, 2024, Reiterated its Buy rating but revised its target price to $40 from $35 previously.
On June 25, 2024, TD Cowen Upgraded its rating to Buy which previously was Hold and also upped its target price recommendation from $24 to $35.
TD Cowen reiterated its Market Perform rating for the stock on February 28, 2024, while the target price for the stock was revised from $20 to $24.
Insider Transactions:
An investor can also benefit from insider trades by learning what management is thinking about the future direction of stock prices. A recent insider transaction in this stock occurred on Aug 19 ’24 when Cheng Chi Fung sold 55,000 shares for $31.08 per share. The transaction valued at 1,709,619 led to the insider holds 9,168,602 shares of the business.
Lam Yat Tung sold 10,000 shares of CRDO for $276,681 on Aug 12 ’24. The Chief Operating Officer now owns 2,807,777 shares after completing the transaction at $27.67 per share. On Aug 09 ’24, another insider, Cheng Chi Fung, who serves as the Chief Technology Officer of the company, sold 55,000 shares for $27.33 each. As a result, the insider received 1,503,269 and left with 9,223,602 shares of the company.
Valuation Measures:
Investors should consider key stock statistics when deciding whether to invest or divest. In the wake of the recent closing price, CRDO now has a Market Capitalization of 5873681408 and an Enterprise Value of 5448130560. For the stock, the TTM Price-to-Sale (P/S) ratio is 30.29 while its Price-to-Book (P/B) ratio in mrq is 10.76. Its current Enterprise Value per Revenue stands at 28.233 whereas that against EBITDA is -241.903.
Stock Price History:
Over the past 52 weeks, CRDO has reached a high of $36.80, while it has fallen to a 52-week low of $13.38. The 50-Day Moving Average of the stock is 18.61%, while the 200-Day Moving Average is calculated to be 56.16%.
Shares Statistics:
According to the various share statistics, CRDO traded on average about 2.26M shares per day over the past 3-months and 2103890 shares per day over the past 10 days. A total of 164.31M shares are outstanding, with a floating share count of 130.53M. Insiders hold about 20.98% of the company’s shares, while institutions hold 72.76% stake in the company. Shares short for CRDO as of 1722384000 were 7781361 with a Short Ratio of 3.63, compared to 1719532800 on 8485685. Therefore, it implies a Short% of Shares Outstanding of 7781361 and a Short% of Float of 6.0.
