Credo Technology Group Holding Ltd [CRDO] is 32.19% higher this YTD. Is it still time to buy?

Credo Technology Group Holding Ltd [NASDAQ: CRDO] price surged by 3.63 percent to reach at $0.54. The company report on August 24, 2022 that Credo Joins International Optical Industry Leaders at ECOC and CIOE Trade Shows.

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Credo Technology Group Holding Ltd (NASDAQ: CRDO) today announced that the Company will exhibit at both the China International Optoelectronic Exposition and the European Conference on Optical Communication in September. Credo’s optical solutions for 5G deployments, optical transport networking (OTN), passive optical networking (PON) and hyperscale data centers will all be available for demonstrations, as well active electrical cables and linecard solutions.

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A sum of 2077456 shares traded at recent session while its average daily volume was at 815.73K shares. Credo Technology Group Holding Ltd shares reached a high of $15.40 and dropped to a low of $14.68 until finishing in the latest session at $15.40.

The one-year CRDO stock forecast points to a potential upside of 12.95. The average equity rating for CRDO stock is currently 1.70, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on Credo Technology Group Holding Ltd [CRDO]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CRDO shares is $17.69 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CRDO stock is a recommendation set at 1.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

The Average True Range (ATR) for Credo Technology Group Holding Ltd is set at 0.95, with the Price to Sales ratio for CRDO stock in the period of the last 12 months amounting to 22.59. The Price to Book ratio for the last quarter was 6.67, with the Price to Cash per share for the same quarter was set at 1.66.

CRDO Stock Performance Analysis:

Credo Technology Group Holding Ltd [CRDO] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.66. With this latest performance, CRDO shares gained by 10.87% in over the last four-week period, additionally plugging by 3.15% over the last 6 months.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CRDO stock in for the last two-week period is set at 56.71, with the RSI for the last a single of trading hit 56.33, and the three-weeks RSI is set at 56.86 for Credo Technology Group Holding Ltd [CRDO]. The present Moving Average for the last 50 days of trading for this stock 13.33, while it was recorded at 14.84 for the last single week of trading.

Insight into Credo Technology Group Holding Ltd Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Credo Technology Group Holding Ltd [CRDO] shares currently have an operating margin of -42.99 and a Gross Margin at +65.21. Credo Technology Group Holding Ltd’s Net Margin is presently recorded at -46.87.

Credo Technology Group Holding Ltd’s liquidity data is similarly interesting compelling, with a Quick Ratio of 11.50 and a Current Ratio set at 12.50.

Credo Technology Group Holding Ltd [CRDO] Insider Position Details

There are presently around $507 million, or 28.80% of CRDO stock, in the hands of institutional investors. The top three institutional holders of CRDO stocks are: CAPITAL RESEARCH GLOBAL INVESTORS with ownership of 8,750,082, which is approximately 0% of the company’s market cap and around 0.20% of the total institutional ownership; BLACKROCK INC., holding 3,588,064 shares of the stock with an approximate value of $55.26 million in CRDO stocks shares; and MASS AVE GLOBAL INC., currently with $42.15 million in CRDO stock with ownership of nearly -36.832% of the company’s market capitalization.

Positions in Credo Technology Group Holding Ltd stocks held by institutional investors increased at the end of September and at the time of the September reporting period, where 55 institutional holders increased their position in Credo Technology Group Holding Ltd [NASDAQ:CRDO] by around 7,147,393 shares. Additionally, 34 investors decreased positions by around 3,422,012 shares, while 3 investors held positions by with 22,357,042 shares. The mentioned changes placed institutional holdings at 32,926,447 shares, according to the latest SEC report filing. CRDO stock had 21 new institutional investments in for a total of 1,394,747 shares, while 19 institutional investors sold positions of 1,575,171 shares during the same period.


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