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The closing price of Credo Technology Group Holding Ltd (NASDAQ: CRDO) was $33.71 for the day, up 3.60% from the previous closing price of $32.54. In other words, the price has increased by $3.60 from its previous closing price. On the day, 1.55 million shares were traded. CRDO stock price reached its highest trading level at $33.8 during the session, while it also had its lowest trading level at $32.52.
Ratios:
Our analysis of CRDO’s different ratios will help us gain a deeper understanding of the company. 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:
Also, insider trades can serve as a great indicator of what management thinks about the future direction of a stock’s price. A recent insider transaction in this stock occurred on Oct 08 ’24 when WALDEN TECHNOLOGY INVESTORS II bought 156,954 shares for $33.34 per share.
TAN LIP BU sold 143,046 shares of CRDO for $4,618,867 on Oct 07 ’24. The Director now owns 2,270,679 shares after completing the transaction at $32.29 per share. On Oct 03 ’24, another insider, TAN LIP BU, who serves as the Director of the company, sold 125,000 shares for $31.06 each. As a result, the insider received 3,882,876 and left with 2,513,725 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 5598017536 and an Enterprise Value of 5216070656. For the stock, the TTM Price-to-Sale (P/S) ratio is 25.73 while its Price-to-Book (P/B) ratio in mrq is 10.12. Its current Enterprise Value per Revenue stands at 23.972 whereas that against EBITDA is -244.897.
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 13.43%, while the 200-Day Moving Average is calculated to be 37.97%.
Shares Statistics:
CRDO traded an average of 2.32M shares per day over the past three months and 1926030 shares per day over the past ten days. A total of 164.31M shares are outstanding, with a floating share count of 132.45M. Insiders hold about 20.24% of the company’s shares, while institutions hold 73.71% stake in the company. Shares short for CRDO as of 1726185600 were 6978813 with a Short Ratio of 3.01, compared to 1723680000 on 8185090. Therefore, it implies a Short% of Shares Outstanding of 6978813 and a Short% of Float of 5.0.
