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As of close of business last night, Credo Technology Group Holding Ltd’s stock clocked out at $29.96, down -2.73% from its previous closing price of $30.80. In other words, the price has decreased by -$2.73 from its previous closing price. On the day, 1.6 million shares were traded. CRDO stock price reached its highest trading level at $30.905 during the session, while it also had its lowest trading level at $29.6111.
Ratios:
To gain a deeper understanding of CRDO’s stock, we examine its different 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:
Investing in insider trades can also provide an investor with insight into how management views future stock prices. A recent insider transaction in this stock occurred on Oct 01 ’24 when WALDEN TECHNOLOGY INVESTORS II bought 61,180 shares for $30.17 per share.
Laufman James sold 20,000 shares of CRDO for $627,204 on Sep 27 ’24. The Chief Legal Officer, Secretary now owns 302,466 shares after completing the transaction at $31.36 per share. On Sep 30 ’24, another insider, Daniel Fleming, who serves as the Officer of the company, bought 128,874 shares for $30.80 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 4975277056 and an Enterprise Value of 4593329152. For the stock, the TTM Price-to-Sale (P/S) ratio is 22.86 while its Price-to-Book (P/B) ratio in mrq is 8.99. Its current Enterprise Value per Revenue stands at 21.11 whereas that against EBITDA is -215.659.
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 1.92%, while the 200-Day Moving Average is calculated to be 24.54%.
Shares Statistics:
It appears that CRDO traded 2.29M shares on average per day over the past three months and 2162320 shares per day over the past ten days. A total of 164.31M shares are outstanding, with a floating share count of 132.19M. Insiders hold about 20.40% of the company’s shares, while institutions hold 72.52% stake in the company. Shares short for CRDO as of 1726185600 were 6978813 with a Short Ratio of 3.04, compared to 1723680000 on 8185090. Therefore, it implies a Short% of Shares Outstanding of 6978813 and a Short% of Float of 5.0.
