Investors aiming for above-average returns often turn to the practice of stock picking. Skillful choices in individual stocks can be a catalyst for substantial wealth growth.
The price of Credo Technology Group Holding Ltd (NASDAQ: CRDO) closed at $73.02 in the last session, down -3.00% from day before closing price of $75.28. In other words, the price has decreased by -$3.00 from its previous closing price. On the day, 3.72 million shares were traded. CRDO stock price reached its highest trading level at $74.54 during the session, while it also had its lowest trading level at $69.91.
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 10.11 and its Current Ratio is at 10.84. 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, Susquehanna on December 17, 2024, initiated with a Neutral rating and assigned the stock a target price of $80.
On December 03, 2024, BofA Securities Upgraded its rating to Buy which previously was Underperform but kept the price unchanged to $80.
TD Cowen reiterated its Buy rating for the stock on December 03, 2024, while the target price for the stock was revised from $45 to $75.
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 Jan 06 ’25 when TAN LIP BU sold 150,000 shares for $76.09 per share. The transaction valued at 11,413,815 led to the insider holds 1,113,725 shares of the business.
Cheng Chi Fung sold 60,000 shares of CRDO for $4,153,106 on Jan 02 ’25. The Chief Technology Officer now owns 8,448,602 shares after completing the transaction at $69.22 per share. On Jan 06 ’25, another insider, WALDEN TECHNOLOGY VENTURES II, who serves as the Director of the company, bought 150,000 shares for $76.09 each.
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 12211791872 and an Enterprise Value of 7555918336. For the stock, the TTM Price-to-Sale (P/S) ratio is 49.72 while its Price-to-Book (P/B) ratio in mrq is 21.49. 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 $78.97, while it has fallen to a 52-week low of $16.82. The 50-Day Moving Average of the stock is 27.45%, while the 200-Day Moving Average is calculated to be 110.56%.
Shares Statistics:
According to the various share statistics, CRDO traded on average about 3.42M shares per day over the past 3-months and 3141030 shares per day over the past 10 days. A total of 167.16M shares are outstanding, with a floating share count of 135.67M. Insiders hold about 18.88% of the company’s shares, while institutions hold 75.51% stake in the company. Shares short for CRDO as of 1731628800 were 6597784 with a Short Ratio of 2.09, compared to 1728950400 on 6943990. Therefore, it implies a Short% of Shares Outstanding of 6597784 and a Short% of Float of 4.7199998.
