The price of Credo Technology Group Holding Ltd (NASDAQ:CRDO) shares last traded on Wall Street fell -2.78% to $16.44.
Based on available information, 10 analysts follow Credo Technology Group Holding Ltd (NASDAQ:CRDO). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $25.19 and a low of $14.00, we find $17.00. Given the previous closing price of $16.91, this indicates a potential upside of 0.53 percent. CRDO stock price is now 28.91% away from the 50-day moving average and 30.83% away from the 200-day moving average. The market capitalization of the company currently stands at $2.46B.
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Among analysts, 1 rate the stock a hold while 8 rate it a buy. Brokers who have rated the stock have averaged $17.92 as their price target over the next twelve months.
With the price target of $13, Exane BNP Paribas recently initiated with Outperform rating for Credo Technology Group Holding Ltd (NASDAQ: CRDO).
In other news, TAN LIP BU, Director sold 53,324 shares of the company’s stock on Jun 30. The stock was sold for $943,824 at an average price of $17.70. Upon completion of the transaction, the Director now directly owns 3,981,077 shares in the company, valued at $65.45 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jun 29, Director TAN LIP BU sold 51,820 shares of the business’s stock. A total of $915,266 was realized by selling the stock at an average price of $17.66. This leaves the insider owning 4,034,401 shares of the company worth $66.33 million. A total of 10.60% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in CRDO stock. A new stake in Credo Technology Group Holding Ltd shares was purchased by SCHONFELD STRATEGIC ADVISORS LLC during the first quarter worth $51,498,000. ELEMENTAL CAPITAL PARTNERS LLC invested $12,854,000 in shares of CRDO during the first quarter. In the first quarter, AMERICAN CENTURY COMPANIES INC acquired a new stake in Credo Technology Group Holding Ltd valued at approximately $9,292,000. MILLENNIUM MANAGEMENT LLC acquired a new stake in CRDO for approximately $7,797,000. S SQUARED TECHNOLOGY, LLC purchased a new stake in CRDO valued at around $6,576,000 in the second quarter. In total, there are 164 active investors with 47.00% ownership of the company’s stock.
A candlestick chart of Credo Technology Group Holding Ltd (NASDAQ: CRDO) showed a price of $16.82 on Wednesday morning. During the past 12 months, Credo Technology Group Holding Ltd has had a low of $7.20 and a high of $19.46. As of last week, the company has a debt-to-equity ratio of 0.00, a current ratio of 10.60, and a quick ratio of 9.10. The fifty day moving average price for CRDO is $12.91 and a two-hundred day moving average price translates $12.59 for the stock.
The latest earnings results from Credo Technology Group Holding Ltd (NASDAQ: CRDO) was released for Apr, 2023. According to the Communication Equipment Company, earnings per share came in at -$0.04, inline with analysts’ expectations of -$0.04. This compares to -$0.01 EPS in the same period last year. The net profit margin was -9.00% and return on equity was -4.80% for CRDO. The company reported revenue of $32.09 million for the quarter, compared to $37.53 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -14.49 percent. For the current quarter, analysts expect CRDO to generate $34M in revenue.
