Credo Technology Group Holding Ltd (NASDAQ:CRDO) has seen 3.18 million shares traded in the last trading session. The company, currently valued at $2.42B, closed the last trade at $17.08 per share which meant it gained $1.41 on the day or 9.00% during that session. The CRDO stock price is -5.39% off its 52-week high price of $18.00 and 49.59% above the 52-week low of $8.61. If we look at the company’s 10-day average daily trading volume, we find that it stood at 1.35 million shares traded. The 3-month trading volume is 1.09 million shares.
The consensus among analysts is that Credo Technology Group Holding Ltd (CRDO) is a Buy stock at the moment, with a recommendation rating of 1.70. 0 analysts rate the stock as a Sell, while 0 rate it as Overweight. 0 out of 8 have rated it as a Hold, with 8 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is $0.03.
Credo Technology Group Holding Ltd (NASDAQ:CRDO) trade information
Sporting 9.00% in the green in last session, the stock has traded in the green over the last five days, with the highest price hit on Tuesday, 01/24/23 when the CRDO stock price touched $17.08 or saw a rise of 2.57%. Year-to-date, Credo Technology Group Holding Ltd shares have moved 28.32%, while the 5-day performance has seen it change 13.87%. Over the past 30 days, the shares of Credo Technology Group Holding Ltd (NASDAQ:CRDO) have changed 28.13%. Short interest in the company has seen 10.63 million shares shorted with days to cover at 5.18.
Credo Technology Group Holding Ltd (CRDO) estimates and forecasts
Figures show that Credo Technology Group Holding Ltd shares have outperformed across the wider relevant industry. The company’s shares have gained 46.48% over the past 6 months, with this year growth rate of 225.00%, compared to 12.90% for the industry. Revenue growth from the last financial year stood is estimated to be 95.30%.
8 analysts offering their estimates for the company have set an average revenue estimate of $50.74 million for the current quarter. 8 have an estimated revenue figure of $54.06 million for the next quarter concluding in Jan 2023.
Credo Technology Group Holding Ltd is expected to release its next earnings report on August 31 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.
Credo Technology Group Holding Ltd (NASDAQ:CRDO)’s Major holders
Insiders own 28.57% of the company shares, while shares held by institutions stand at 28.27% with a share float percentage of 39.57%. Investors are also buoyed by the number of investors in a company, with Credo Technology Group Holding Ltd having a total of 113 institutions that hold shares in the company. The top two institutional holders are Capital Research Global Investors with over 8.75 million shares worth more than $102.2 million. As of Jun 29, 2022, Capital Research Global Investors held 6.01% of shares outstanding.
The other major institutional holder is Blackrock Inc., with the holding of over 3.59 million shares as of Jun 29, 2022. The firm’s total holdings are worth over $41.91 million and represent 2.46% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are Smallcap World Fund and iShares Russell 2000 ETF. As of Jun 29, 2022, the former fund manager holds about 5.63% shares in the company for having 8.19 million shares of worth $95.71 million while later fund manager owns 2.08 million shares of worth $22.9 million as of Sep 29, 2022, which makes it owner of about 1.43% of company’s outstanding stock.