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The closing price of Credo Technology Group Holding Ltd (NASDAQ: CRDO) was $37.31 for the day, down -0.80% from the previous closing price of $37.61. In other words, the price has decreased by -$0.80 from its previous closing price. On the day, 1.66 million shares were traded. CRDO stock price reached its highest trading level at $39.06 during the session, while it also had its lowest trading level at $37.065.
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 16 ’24 when Fleming Daniel W. sold 3,790 shares for $36.14 per share. The transaction valued at 136,975 led to the insider holds 671,420 shares of the business.
TAN LIP BU sold 100,000 shares of CRDO for $3,815,600 on Oct 11 ’24. The Director now owns 1,763,725 shares after completing the transaction at $38.16 per share. On Oct 15 ’24, another insider, TAN LIP BU, who serves as the Director of the company, sold 34,719 shares for $37.29 each. As a result, the insider received 1,294,654 and left with 1,713,725 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 6195848192 and an Enterprise Value of 5813902848. For the stock, the TTM Price-to-Sale (P/S) ratio is 28.47 while its Price-to-Book (P/B) ratio in mrq is 11.20. Its current Enterprise Value per Revenue stands at 26.72 whereas that against EBITDA is -272.966.
Stock Price History:
Over the past 52 weeks, CRDO has reached a high of $40.37, while it has fallen to a 52-week low of $13.38. The 50-Day Moving Average of the stock is 18.37%, while the 200-Day Moving Average is calculated to be 48.39%.
Shares Statistics:
CRDO traded an average of 2.36M shares per day over the past three months and 2428710 shares per day over the past ten days. A total of 164.31M shares are outstanding, with a floating share count of 133.38M. Insiders hold about 19.68% of the company’s shares, while institutions hold 75.31% stake in the company. Shares short for CRDO as of 1727654400 were 7448733 with a Short Ratio of 3.16, compared to 1724976000 on 7323923. Therefore, it implies a Short% of Shares Outstanding of 7448733 and a Short% of Float of 5.33.
