Credo Technology Group Holding Ltd [NASDAQ: CRDO] gained 4.88% or 3.98 points to close at $85.50 with a heavy trading volume of 4864457 shares.
The daily chart for CRDO points out that the company has recorded 189.63% gains over the past six months.
If we look at the average trading volume of 3.71M shares, CRDO reached to a volume of 4864457 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying 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 $82.33 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 1.38. 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.
Susquehanna have made an estimate for Credo Technology Group Holding Ltd shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on December 17, 2024. The new note on the price target was released on December 03, 2024, representing the official price target for Credo Technology Group Holding Ltd stock. Previously, the target price had yet another raise from $45 to $75, while TD Cowen kept a Buy rating on CRDO stock. On December 03, 2024, analysts increased their price target for CRDO shares from 43 to 70.
The Average True Range (ATR) for Credo Technology Group Holding Ltd is set at 5.29, with the Price to Sales ratio for CRDO stock in the period of the last 12 months amounting to 58.22. The Price to Book ratio for the last quarter was 25.17, with the Price to Cash per share for the same quarter was set at 2.29.
Trading performance analysis for CRDO stock
Credo Technology Group Holding Ltd [CRDO] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 23.22. With this latest performance, CRDO shares gained by 28.65% in over the last four-week period, additionally plugging by 189.63% over the last 6 months – not to mention a rise of 311.45% 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 70.34, with the RSI for the last a single of trading hit 75.05, and the three-weeks RSI is set at 68.18 for Credo Technology Group Holding Ltd [CRDO]. The present Moving Average for the last 50 days of trading for this stock 62.97, while it was recorded at 79.62 for the last single week of trading, and 36.86 for the last 200 days.
Credo Technology Group Holding Ltd [CRDO]: A deeper dive into fundamental analysis
Credo Technology Group Holding Ltd’s liquidity data is similarly interesting compelling, with a Quick Ratio of 10.11 and a Current Ratio set at 10.84.
An analysis of Institutional ownership at Credo Technology Group Holding Ltd [CRDO]
There are presently around $76.89%, or 91.39%% 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 7.4078%.
