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The price of Credo Technology Group Holding Ltd (NASDAQ: CRDO) closed at $47.80 in the last session, down -2.37% from day before closing price of $48.96. In other words, the price has decreased by -$2.37 from its previous closing price. On the day, 6.3 million shares were traded. CRDO stock price reached its highest trading level at $49.74 during the session, while it also had its lowest trading level at $47.49.
Ratios:
We take a closer look at CRDO’s different ratios to gain a better understanding of the stock. 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:
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 Nov 18 ’24 when Cheng Chi Fung sold 55,000 shares for $40.59 per share. The transaction valued at 2,232,488 led to the insider holds 8,673,602 shares of the business.
Lam Yat Tung sold 120,000 shares of CRDO for $5,572,147 on Nov 12 ’24. The Chief Operating Officer now owns 600,000 shares after completing the transaction at $46.43 per share. On Nov 12 ’24, another insider, Lam Yat Tung, who serves as the Chief Operating Officer of the company, sold 10,000 shares for $46.44 each. As a result, the insider received 464,370 and left with 2,862,672 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 7937859072 and an Enterprise Value of 7555918336. For the stock, the TTM Price-to-Sale (P/S) ratio is 39.07 while its Price-to-Book (P/B) ratio in mrq is 14.34. Its current Enterprise Value per Revenue stands at 34.726 whereas that against EBITDA is -354.755.
Stock Price History:
Over the past 52 weeks, CRDO has reached a high of $51.40, while it has fallen to a 52-week low of $16.82. The 50-Day Moving Average of the stock is 21.67%, while the 200-Day Moving Average is calculated to be 67.62%.
Shares Statistics:
According to the various share statistics, CRDO traded on average about 2.66M shares per day over the past 3-months and 2687920 shares per day over the past 10 days. A total of 165.97M shares are outstanding, with a floating share count of 133.71M. Insiders hold about 19.48% of the company’s shares, while institutions hold 75.98% stake in the company. Shares short for CRDO as of 1731628800 were 6597784 with a Short Ratio of 2.48, compared to 1728950400 on 6943990. Therefore, it implies a Short% of Shares Outstanding of 6597784 and a Short% of Float of 4.7199998.
