Credo Technology Group Holding Ltd (NASDAQ:CRDO) saw an upside of 0.67% to $14.95 after adding $0.1 on Tuesday. The 5-day average trading volume is 1,553,174 shares of the company’s common stock. It has gained $15.51 in the past week and touched a new high 3 times within the past 5 days. An average of 2,030,924 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 2,152,379.
CRDO’s 1-month performance is -8.67% or -$1.34 on its low of $13.53 reached on 08/18/23. The company’s shares have touched a 52-week low of $7.20 and high of $19.46, with the stock’s rally to the 52-week high happening on 02/14/23. YTD, CRDO has achieved 12.32% or $1.66 and has reached a new high 14 times. However, the current price is down -23.18% from the 52-week high price.
Insider Transactions
CRDO stock investors last saw insider trading activity on Aug 15.Cheng Chi Fung (Chief Technology Officer) most recently sold 18,861 shares at $15.01 per share on Aug 15. This transaction cost the insider $283,021. Pres & Chief Executive Officer, Brennan William Joseph, sold 15,000 shares at a price of $14.60 on Aug 15. Then, on Aug 14, Pres & Chief Executive Officer Brennan William Joseph sold 15,000 shares at a price of $14.30 per share. This transaction amounted to $214,522.
Valuation Metrics
CRDO stock has a beta of 2.06. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 11.99 while the price-to-book (PB) in the most recent quarter is 6.36.
Credo Technology Group Holding Ltd’s quick ratio for the period ended April 29 was 9.10, with the current ratio over the same period at 10.60. In terms of profitability, the gross margin trailing 12 months is 57.70%. The trailing 12-month EBITDA margin is -5.06% while for the period ending April 29, Credo Technology Group Holding Ltd’s operating margin was -11.50%. The firm’s gross profit as reported stood at $106.19 million against revenue of $184.19 million.
Earnings Surprise
For the quarterly period ending April 29 this year, Net income and sales went down compared to those figures reported in the previous quarter. Net income shrunk -39.15% to -$15.94 million, while revenue of $2.82 million was 117.69% off the previous quarter. Analysts expected CRDO to announce -$0.04 per share in earnings in its latest quarter, but it posted -$0.04, representing a 0.00% surprise. EBITDA for the quarter stood at more than -$13.41 million. CRDO stock balance sheet for the quarter ending April 29 shows that total liabilities totaled 49.65 million, with total debt at $15.5 million. Shareholders hold equity totaling $149.08 million.
Let’s look briefly at Credo Technology Group Holding Ltd (CRDO) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 21 August was 47.60% to suggest the stock is trending Neutral, with historical volatility in this time period at 45.90%.
The stock’s 5-day moving average is $14.41, reflecting a +0.64% or $0.10 change from its current price. CRDO is currently trading -10.86% above its 20-day SMA, +65.10% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -9.13% and SMA200 by+11.67%.
Stochastic %K and %D was 33.95% and 20.83% and the average true range (ATR) pointed at 0.71. The RSI (14) points at 45.42%, while the 14-day stochastic is at 45.87% with the period’s ATR at 0.72. The stock’s 9-day MACD Oscillator is pointing at 0.10 and -0.37 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Credo Technology Group Holding Ltd (NASDAQ: CRDO), Exane BNP Paribas launched coverage with an Outperform rating.
