As of Friday close, Credo Technology Group Holding Ltd’s (NASDAQ:CRDO) stock was down -$0.06, moving down -0.73 percent to $8.17. The average number of shares traded per day over the past five days has been 3,628,180 shares. 1 time new highs have been achieved over the past 5 days, with a -$0.83 fall in that time frame. In the last twenty days, the average volume was 2,520,095, while in the previous 50 days, it was 2,620,938.
Since last month, CRDO stock retreated -20.68%. Shares of the company fell to $7.84 on 03/17/23, the lowest level in the past month. A 52-week high of $19.46 was reached on 02/14/23 after having rallying from a 52-week low of $8.15. Since the beginning of this year, CRDO’s stock price has dropped by -38.62% or -$5.14, and marked a new high 14 times. However, the stock has declined by -58.02% since its 52-week high.
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CRDO stock investors should be aware that Credo Technology Group Holding Ltd (CRDO) stock had its last reported insider trading activity 9 days ago on Mar 09. Brennan William Joseph, the Pres & Chief Executive Officer of the company, disposed of 24,446 shares for $9.95 on Mar 09. It resulted in a $243,123 divestment by the insider. Cheng Chi Fung sold 6,250 shares at an average price of $10.42 on Mar 01. The insider now owns 11,257,352 shares following the transaction. On Mar 01, Chief Operating Officer Lam Yat Tung sold 2,590 shares at $10.42 apiece. The transaction was valued at $26,977.
In the three months ended January 30, Credo Technology Group Holding Ltd’s quick ratio stood at 6.90, while its current ratio was 8.10, showing that the company is able to pay off its debt. On the profitability front, the trailing twelve-month gross margin is 58.70% percent. In the year ended January 30, operating margins totaled -5.90%. Based on annual data, CRDO earned $64.02 million in gross profit and brought in $106.48 million in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was -6.60%. Return on equity (ROE) for the past 12 months was -1.70%.
According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. CRDO’s revenue rose 41.4% to $51.37 million during the quarter, while net income inched up to $54.27 million. While analysts expected Credo Technology Group Holding Ltd to report $0.04 quarterly earnings, the actual figure was $0.05 per share, beating the consensus estimate by 25.00%. During the quarter, the company generated -$0.61 million in EBITDA. The liabilities of Credo Technology Group Holding Ltd were 62.7 million at the end of its most recent quarter ended January 30, and its total debt was $16.19 million. The value of shareholders’ equity is $147.99 million.
This quick technical analysis looks at Credo Technology Group Holding Ltd’s (CRDO) price momentum. With a historical volatility rate of 30.01%, the RSI 9-day stood at 16.91% on 17 March.
With respect to its five-day moving average, the current Credo Technology Group Holding Ltd price is down by -9.22% percent or -$0.83. At present, CRDO shares trade -19.90% below its 20-day simple moving average and -29.63% percent below its 100-day simple moving average. However, the stock is currently trading approximately -35.87% below its SMA50 and -20.14% below its SMA200.
Stochastic coefficient K was 5.72% and Stochastic coefficient D was 4.85%, while ATR was 0.61. Given the Stochastic reading of 10.67% for the 14-day period, the RSI (14) reading has been calculated as 23.45%. As of today, the MACD Oscillator reading stands at -0.73, while the 14-day reading stands at -1.24.
Exane BNP Paribas launched its rating on Credo Technology Group Holding Ltd (NASDAQ: CRDO) to an Outperform in a note to investors on February 28, 2023. Credo Technology Group Holding Ltd (CRDO) has been rated Overweight by analysts. According to 0 brokerage firms, CRDO is a sell, and 1 firms recommend it is a Hold. There are 1 analyst who say the stock is underweight. A total of 0 analysts rate Credo Technology Group Holding Ltd stock as buy, with 7 recommending it as overweight.
With a median target price of $14.00, the current consensus forecast for the stock is $11.00 – $16.00. Based on these forecasts, analysts predict Credo Technology Group Holding Ltd (CRDO) will achieve an average price target of $13.78.