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In the latest session, Credo Technology Group Holding Ltd (NASDAQ: CRDO) closed at $29.82 down -0.20% from its previous closing price of $29.88. In other words, the price has decreased by -$0.20 from its previous closing price. On the day, 1.84 million shares were traded. CRDO stock price reached its highest trading level at $30.9499 during the session, while it also had its lowest trading level at $29.59.
Ratios:
For a deeper understanding of Credo Technology Group Holding Ltd’s stock, let’s take a closer look at its various 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:
Additionally, insider trades can be beneficial to investors who want to learn what the management thinks about stock prices in the future. A recent insider transaction in this stock occurred on Sep 23 ’24 when Cheng Chi Fung sold 55,000 shares for $29.67 per share. The transaction valued at 1,631,966 led to the insider holds 9,003,602 shares of the business.
Cheng Chi Fung sold 55,000 shares of CRDO for $1,552,244 on Sep 13 ’24. The Chief Technology Officer now owns 9,058,602 shares after completing the transaction at $28.22 per share. On Sep 12 ’24, another insider, Lam Yat Tung, who serves as the Chief Operating Officer of the company, sold 10,000 shares for $27.69 each. As a result, the insider received 276,920 and left with 2,885,840 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 4952028672 and an Enterprise Value of 4570080256. For the stock, the TTM Price-to-Sale (P/S) ratio is 22.76 while its Price-to-Book (P/B) ratio in mrq is 8.95. Its current Enterprise Value per Revenue stands at 21.003 whereas that against EBITDA is -214.568.
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 1.44%, while the 200-Day Moving Average is calculated to be 25.28%.
Shares Statistics:
For the past three months, CRDO has traded an average of 2.33M shares per day and 2247310 over the past ten days. A total of 164.31M shares are outstanding, with a floating share count of 132.13M. Insiders hold about 20.43% of the company’s shares, while institutions hold 72.43% stake in the company. Shares short for CRDO as of 1724976000 were 7323923 with a Short Ratio of 2.99, compared to 1722384000 on 7781361. Therefore, it implies a Short% of Shares Outstanding of 7323923 and a Short% of Float of 5.239999699999999.
