Investors on the quest for market-beating returns often employ the strategy of stock picking. Making informed choices in stocks can greatly amplify your wealth.
The closing price of Credo Technology Group Holding Ltd (NASDAQ: CRDO) was $69.04 for the day, down -6.45% from the previous closing price of $73.80. In other words, the price has decreased by -$6.45 from its previous closing price. On the day, 4.34 million shares were traded. CRDO stock price reached its highest trading level at $70.81 during the session, while it also had its lowest trading level at $67.25.
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 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:
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 Jan 10 ’25 when Daniel Fleming bought 22,538 shares for $73.80 per share.
CHUNG (BVI) CO LTD bought 300,000 shares of CRDO for $21,906,000 on Jan 10 ’25. On Jan 08 ’25, another insider, Cheng Chi Fung, who serves as the Chief Technology Officer of the company, sold 60,000 shares for $72.09 each. As a result, the insider received 4,325,408 and left with 8,388,602 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 12342211584 and an Enterprise Value of 7555918336. For the stock, the TTM Price-to-Sale (P/S) ratio is 47.01 while its Price-to-Book (P/B) ratio in mrq is 20.32. Its current Enterprise Value per Revenue stands at 34.726 whereas that against EBITDA is -354.755.
Stock Price History:
The Beta on a monthly basis for CRDO is 2.10, which has changed by 2.886256 over the last 52 weeks, in comparison to a change of 0.22263205 over the same period for the S&P500. 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 17.99%, while the 200-Day Moving Average is calculated to be 96.29%.
Shares Statistics:
CRDO traded an average of 3.48M shares per day over the past three months and 3512120 shares per day over the past ten days. A total of 167.16M shares are outstanding, with a floating share count of 135.94M. Insiders hold about 18.81% of the company’s shares, while institutions hold 75.50% stake in the company. Shares short for CRDO as of 1731628800 were 6597784 with a Short Ratio of 2.28, compared to 1728950400 on 6943990. Therefore, it implies a Short% of Shares Outstanding of 6597784 and a Short% of Float of 4.7199998.
