Credo Technology Group Holding Ltd [NASDAQ: CRDO] traded at a low on Thursday, posting a -8.65 loss after which it closed the day’ session at $41.90.
The results of the trading session contributed to over 4070109 shares changing hands. Over the past one week, the price volatility of Credo Technology Group Holding Ltd stands at 6.54% while the volatility over the past one month is 5.28%.
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The market cap for CRDO stock reached $6.96 billion, with 164.31 million shares outstanding and 133.46 million shares in the current float. Compared to the average trading volume of 2.53M shares, CRDO reached a trading volume of 4070109 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about 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 $37.36 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 1.33. 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.
TD Cowen have made an estimate for Credo Technology Group Holding Ltd shares, keeping their opinion on the stock as Buy, with their previous recommendation back on July 15, 2024. While these analysts kept the previous recommendation, TD Cowen raised their target price from $24 to $35. The new note on the price target was released on June 25, 2024, representing the official price target for Credo Technology Group Holding Ltd stock. Previously, the target price had yet another raise from $20 to $24, while TD Cowen kept a Market Perform rating on CRDO stock. On November 30, 2023, analysts increased their price target for CRDO shares from 16 to 20.
The Average True Range (ATR) for Credo Technology Group Holding Ltd is set at 2.40, with the Price to Sales ratio for CRDO stock in the period of the last 12 months amounting to 31.98. The Price to Book ratio for the last quarter was 12.57, with the Price to Cash per share for the same quarter was set at 2.40.
How has CRDO stock performed recently?
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 -10.89. With this latest performance, CRDO shares gained by 13.27% in over the last four-week period, additionally plugging by 119.37% over the last 6 months – not to mention a rise of 143.60% in the past year of trading.
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 53.40, with the RSI for the last a single of trading hit 47.40, and the three-weeks RSI is set at 56.15 for Credo Technology Group Holding Ltd [CRDO]. The present Moving Average for the last 50 days of trading for this stock 35.31, while it was recorded at 45.74 for the last single week of trading, and 27.23 for the last 200 days.
Credo Technology Group Holding Ltd [CRDO]: Deeper insight into the fundamentals
Credo Technology Group Holding Ltd’s liquidity data is similarly interesting compelling, with a Quick Ratio of 7.36 and a Current Ratio set at 7.81.
Earnings analysis for Credo Technology Group Holding Ltd [CRDO]
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CRDO. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Credo Technology Group Holding Ltd go to 63.57%.
Insider trade positions for Credo Technology Group Holding Ltd [CRDO]
There are presently around $76.98%, or 91.72%% of CRDO stock, in the hands of institutional investors. The top three institutional holders of CRDO stocks are: VANGUARD GROUP INC with ownership of 15.15 million shares, which is approximately 9.2574%. BLACKROCK INC., holding 14.19 million shares of the stock with an approximate value of $$453.31 million in CRDO stocks shares; and BLACKROCK INC., currently with $$390.73 million in CRDO stock with ownership which is approximately 7.474%.
