As of Thursday close, Credo Technology Group Holding Ltd’s (NASDAQ:CRDO) stock was down -$0.31, moving down -2.10 percent to $14.48. The average number of shares traded per day over the past five days has been 1,721,760 shares. 1 time new highs have been achieved over the past 5 days, with a -$0.88 fall in that time frame. In the last twenty days, the average volume was 1,889,165, while in the previous 50 days, it was 1,983,848.
Since last month, CRDO stock retreated -2.69%. Shares of the company fell to $13.91 on 08/25/23, 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 $7.20. Since the beginning of this year, CRDO’s stock price has risen by 8.79% or $1.17, and marked a new high 14 times. However, the stock has declined by -25.59% since its 52-week high.
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 Sep 13. Brennan William Joseph, the Pres & Chief Executive Officer of the company, disposed of 15,000 shares for $15.48 on Sep 13. It resulted in a $232,260 divestment by the insider. Brennan William Joseph sold 15,000 shares at an average price of $15.78 on Sep 12. The insider now owns 4,032,421 shares following the transaction. On Sep 08, Chief Operating Officer Lam Yat Tung sold 150,000 shares at $16.07 apiece. The transaction was valued at $2,411,085.
Valuation Metrics
The stock’s beta is 2.05. Besides these, the trailing price-to-sales (P/S) ratio of 12.91, the price-to-book (PB) ratio of 6.21.
Financial Health
In the three months ended July 30, Credo Technology Group Holding Ltd’s quick ratio stood at 9.00, while its current ratio was 10.30, showing that the company is able to pay off its debt. On the profitability front, the trailing twelve-month gross margin is 57.50% percent. In the year ended July 30, EBITDA margin amounted to -5.06%, whereas operating margins totaled -20.40%. Based on annual data, CRDO earned $106.19 million in gross profit and brought in $184.19 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 -5.70%. Return on equity (ROE) for the past 12 months was -8.10%.
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 fell -33.57% to $32.09 million during the quarter, while net income inched up to $34.79 million. While analysts expected Credo Technology Group Holding Ltd to report -$0.03 quarterly earnings, the actual figure was -$0.03 per share. During the quarter, the company generated -$11.44 million in EBITDA. The liabilities of Credo Technology Group Holding Ltd were 48.27 million at the end of its most recent quarter ended July 30, and its total debt was $14.84 million. The value of shareholders’ equity is $150.03 million.
Technical Picture
This quick technical analysis looks at Credo Technology Group Holding Ltd’s (CRDO) price momentum. With a historical volatility rate of 26.79%, the RSI 9-day stood at 32.44% on 21 September.
With respect to its five-day moving average, the current Credo Technology Group Holding Ltd price is down by -5.73% percent or -$0.88. At present, CRDO shares trade -9.89% below its 20-day simple moving average and +78.55% percent above its 100-day simple moving average. However, the stock is currently trading approximately -14.22% below its SMA50 and -3.08% below its SMA200.
Stochastic coefficient K was 9.59% and Stochastic coefficient D was 13.17%, while ATR was 0.62. Given the Stochastic reading of 2.88% for the 14-day period, the RSI (14) reading has been calculated as 38.52%. As of today, the MACD Oscillator reading stands at -0.32, while the 14-day reading stands at -0.87.
Analyst Ratings
TD Cowen reiterated its a Market perform rating on Credo Technology Group Holding Ltd (NASDAQ: CRDO) in a note to investors. The analysts firm has however raised their price target to $16, representing a possible -3.43% increase in the stock price. Credo Technology Group Holding Ltd (CRDO) has been rated Buy 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 9 recommending it as overweight.
With a median target price of $18.50, the current consensus forecast for the stock is $16.00 – $25.19. Based on these forecasts, analysts predict Credo Technology Group Holding Ltd (CRDO) will achieve an average price target of $19.42.
