The price of Credo Technology Group Holding Ltd (NASDAQ:CRDO) shares last traded on Wall Street rose 47.89% to $70.69.
CRDO stock price is now 76.26% away from the 50-day moving average and 145.80% away from the 200-day moving average. The market capitalization of the company currently stands at $11.74B.
With the price target maintained at $80, BofA Securities recently Upgraded its rating from Underperform to Buy for Credo Technology Group Holding Ltd (NASDAQ: CRDO). On December 04, 2024, TD Cowen reiterated its ‘Buy’ rating on the stock by increasing its target price from $45 to quote $75, while ‘Needham’ rates the stock as ‘Buy’
In other news, Cheng Chi Fung, Chief Technology Officer sold 55,000 shares of the company’s stock on Dec 02 ’24. The stock was sold for $2,671,353 at an average price of $48.57. Upon completion of the transaction, the Chief Technology Officer now directly owns 8,618,602 shares in the company, valued at $609.25 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Dec 02 ’24, Chief Financial Officer Fleming Daniel W. sold 12,504 shares of the business’s stock. A total of $606,251 was realized by selling the stock at an average price of $48.48. This leaves the insider owning 656,456 shares of the company worth $46.4 million.
During the past 12 months, Credo Technology Group Holding Ltd has had a low of $16.82 and a high of $51.40. As of last week, the company has a debt-to-equity ratio of 0.02, a current ratio of 10.84, and a quick ratio of 10.11. The fifty day moving average price for CRDO is $39.2871 and a two-hundred day moving average price translates $28.517124 for the stock.
The latest earnings results from Credo Technology Group Holding Ltd (NASDAQ: CRDO) was released for 2024-08-03. The net profit margin was -9.70% and return on equity was -5.19% for CRDO. The company reported revenue of $59.71 million for the quarter, compared to $35.09 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 70.15 percent.
