Investors seeking to outperform the market often focus on hand-picking stocks. Selecting the right ones has proven to be a key factor in boosting wealth.
After finishing at $17.30 in the prior trading day, Credo Technology Group Holding Ltd (NASDAQ: CRDO) closed at $17.18, down -0.69%. In other words, the price has decreased by -$0.69 from its previous closing price. On the day, 2.14 million shares were traded. CRDO stock price reached its highest trading level at $17.8172 during the session, while it also had its lowest trading level at $17.16.
Ratios:
Our goal is to gain a better understanding of CRDO by taking a closer look at its different ratios. It provided that stocks Price–to–Cash (P/C) ratio for the trailing twelve months (TTM) is standing at 6.86 whereas its Price-to-Free Cash Flow (P/FCF) for the term is 7193.13. For the most recent quarter (mrq), Quick Ratio is recorded 11.94 and its Current Ratio is at 12.72. 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 February 28, 2024, Reiterated its Market Perform rating but revised its target price to $24 from $20 previously.
On November 30, 2023, TD Cowen reiterated its Market Perform rating and also lowered its target price recommendation from $16 to $20.
On October 02, 2023, Barclays started tracking the stock assigning a Overweight rating and target price of $18.Barclays initiated its Overweight rating on October 02, 2023, with a $18 target price.
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 Nov 17 ’27 when Brennan William Joseph sold 15,000 shares for $17.71 per share. The transaction valued at 265,662 led to the insider holds 3,867,421 shares of the business.
Brennan William Joseph sold 15,000 shares of CRDO for $216,762 on Oct 24 ’24. The Pres & Chief Executive Officer now owns 3,927,421 shares after completing the transaction at $14.45 per share. On May 03 ’24, another insider, Brennan William Joseph, who serves as the Pres & Chief Executive Officer of the company, sold 15,000 shares for $17.35 each. As a result, the insider received 260,226 and left with 2,947,500 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 2805339648 and an Enterprise Value of 2410605824. For the stock, the TTM Price-to-Sale (P/S) ratio is 17.08 while its Price-to-Book (P/B) ratio in mrq is 5.25. Its current Enterprise Value per Revenue stands at 14.674 whereas that against EBITDA is -74.166.
Stock Price History:
Over the past 52 weeks, CRDO has reached a high of $23.90, while it has fallen to a 52-week low of $7.20. The 50-Day Moving Average of the stock is -16.24%, while the 200-Day Moving Average is calculated to be -5.31%.
Shares Statistics:
The stock has traded on average 2.07M shares per day over the past 3-months and 1631740 shares per day over the last 10 days, according to various share statistics. A total of 148.65M shares are outstanding, with a floating share count of 126.66M. Insiders hold about 22.43% of the company’s shares, while institutions hold 67.41% stake in the company. Shares short for CRDO as of 1713139200 were 10742596 with a Short Ratio of 5.20, compared to 1710460800 on 9992356. Therefore, it implies a Short% of Shares Outstanding of 10742596 and a Short% of Float of 8.4.
