Credo Technology Group Holding Ltd (NASDAQ:CRDO) has a beta value of 1.96 and has seen 2.05 million shares traded in the last trading session. The company, currently valued at $3.49B, closed the last trade at $21.36 per share which meant it lost -$0.28 on the day or -1.29% during that session. The CRDO stock price is -11.89% off its 52-week high price of $23.90 and 66.29% above the 52-week low of $7.20. If we look at the company’s 10-day average daily trading volume, we find that it stood at 1.56 million shares traded. The 3-month trading volume is 2.26 million shares.
Credo Technology Group Holding Ltd (NASDAQ:CRDO) trade information
Sporting -1.29% in the red in last session, the stock has traded in the green over the last five days, when the CRDO stock price touched $21.36 or saw a rise of 5.94%. Year-to-date, Credo Technology Group Holding Ltd shares have moved 9.71%, while the 5-day performance has seen it change 0.80%. Over the past 30 days, the shares of Credo Technology Group Holding Ltd (NASDAQ:CRDO) have changed -2.02%. Short interest in the company has seen 9.99 million shares shorted with days to cover at 4.05.
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 33.17% over the past 6 months, with this year growth rate of 40.00%, compared to 16.40% for the industry. Other than that, the company has, however, increased its growth outlook for the 2024 fiscal year revenue. Growth estimates for the current quarter are 225.00% and 233.30% for the next quarter. Revenue growth from the last financial year stood is estimated to be 4.50%.
9 analysts offering their estimates for the company have set an average revenue estimate of $60.72 million for the current quarter. 9 have an estimated revenue figure of $58.42 million for the next quarter concluding in Jul 2024.
Earnings growth for 2024 is a modest 40.16% while over the next 5 years, the company’s earnings are expected to increase by 20.00%.
CRDO Dividends
Credo Technology Group Holding Ltd is expected to release its next earnings report between May 29 and June 03 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 20.75% of the company shares, while shares held by institutions stand at 71.22% with a share float percentage of 89.87%. Investors are also buoyed by the number of investors in a company, with Credo Technology Group Holding Ltd having a total of 251 institutions that hold shares in the company. The top two institutional holders are Capital Research Global Investors with over 12.63 million shares worth more than $218.92 million. As of Jun 29, 2023, Capital Research Global Investors held 8.47% of shares outstanding.
The other major institutional holder is Blackrock Inc., with the holding of over 10.95 million shares as of Jun 29, 2023. The firm’s total holdings are worth over $189.96 million and represent 7.35% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are Smallcap World Fund and Vanguard Total Stock Market Index Fund. As of Jun 29, 2023, the former fund manager holds about 7.69% shares in the company for having 11.47 million shares of worth $198.81 million while later fund manager owns 2.53 million shares of worth $43.81 million as of Jun 29, 2023, which makes it owner of about 1.69% of company’s outstanding stock.
