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After finishing at $39.18 in the prior trading day, Credo Technology Group Holding Ltd (NASDAQ: CRDO) closed at $40.14, up 2.45%. In other words, the price has increased by $2.45 from its previous closing price. On the day, 1.92 million shares were traded. CRDO stock price reached its highest trading level at $40.59 during the session, while it also had its lowest trading level at $38.91.
Ratios:
Our goal is to gain a better understanding of CRDO by taking a closer look at its different ratios. For the most recent quarter (mrq), Quick Ratio is recorded 7.36 and its Current Ratio is at 7.81. 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:
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 Oct 21 ’24 when Cheng Chi Fung sold 55,000 shares for $39.24 per share. The transaction valued at 2,157,967 led to the insider holds 8,838,602 shares of the business.
Fleming Daniel W. sold 3,790 shares of CRDO for $136,975 on Oct 16 ’24. The Chief Financial Officer now owns 671,420 shares after completing the transaction at $36.14 per share. On Oct 11 ’24, another insider, TAN LIP BU, who serves as the Director of the company, sold 100,000 shares for $38.16 each. As a result, the insider received 3,815,600 and left with 1,763,725 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 6665808896 and an Enterprise Value of 6283865088. For the stock, the TTM Price-to-Sale (P/S) ratio is 30.63 while its Price-to-Book (P/B) ratio in mrq is 12.04. Its current Enterprise Value per Revenue stands at 28.88 whereas that against EBITDA is -295.031.
Stock Price History:
Over the past 52 weeks, CRDO has reached a high of $40.37, while it has fallen to a 52-week low of $13.38. The 50-Day Moving Average of the stock is 22.42%, while the 200-Day Moving Average is calculated to be 55.84%.
Shares Statistics:
The stock has traded on average 2.37M shares per day over the past 3-months and 2092660 shares per day over the last 10 days, according to various share statistics. A total of 164.31M shares are outstanding, with a floating share count of 133.44M. Insiders hold about 19.65% of the company’s shares, while institutions hold 75.40% stake in the company. Shares short for CRDO as of 1728950400 were 6943990 with a Short Ratio of 2.93, compared to 1726185600 on 6978813. Therefore, it implies a Short% of Shares Outstanding of 6943990 and a Short% of Float of 4.97.
