In last trading session, Credo Technology Group Holding Ltd (NASDAQ:CRDO) saw 2.5 million shares changing hands with its beta currently measuring 1.97. Company’s recent per share price level of $23.02 trading at $1.82 or 8.58% at ring of the bell on the day assigns it a market valuation of $3.76B. That closing price of CRDO’s stock is at a discount of -3.82% from its 52-week high price of $23.90 and is indicating a premium of 68.72% from its 52-week low price of $7.20. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 1.59 million shares which gives us an average trading volume of 2.23 million if we extend that period to 3-months.
Credo Technology Group Holding Ltd (NASDAQ:CRDO) trade information
Upright in the green during last session for gaining 8.58%, in the last five days CRDO remained trading in the green while hitting it’s week-highest on Thursday, 04/11/24 when the stock touched $23.02 price level, adding 0.09% to its value on the day. Credo Technology Group Holding Ltd’s shares saw a change of 18.23% in year-to-date performance and have moved 6.38% in past 5-day. Credo Technology Group Holding Ltd (NASDAQ:CRDO) showed a performance of 11.37% in past 30-days. Number of shares sold short was 9.99 million shares which calculate 4.05 days to cover the short interests.
Credo Technology Group Holding Ltd (CRDO) estimates and forecasts
Statistics highlight that Credo Technology Group Holding Ltd is scoring comparatively higher than the scores of other players of the relevant industry. The company added 42.19% of value to its shares in past 6 months, showing an annual growth rate of 40.00% while that of industry is 17.10. Apart from that, the company came raising its revenue forecast for fiscal year 2024. The company is estimating its revenue growth to increase by 225.00% in the current quarter and calculating 233.30% increase in the next quarter. This year revenue growth is estimated to rise 4.50% from the last financial year’s standing.
9 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $60.72 million for the same. And 9 analysts are in estimates of company making revenue of $58.42 million in the next quarter that will end on Jul 2024.
In 2024, company’s earnings growth rate is likely to be around 40.16% while estimates for its earnings growth in next 5 years are of 20.00%.
CRDO Dividends
Credo Technology Group Holding Ltd is more likely to be releasing its next quarterly report between May 29 and June 03 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.
Credo Technology Group Holding Ltd (NASDAQ:CRDO)’s Major holders
Insiders are in possession of 20.75% of company’s total shares while institution are holding 71.22 percent of that, with stock having share float percentage of 89.87%. Investors also watch the number of corporate investors in a company very closely, which is 71.22% institutions for Credo Technology Group Holding Ltd that are currently holding shares of the company. Capital Research Global Investors is the top institutional holder at CRDO for having 12.63 million shares of worth $218.92 million. And as of Jun 29, 2023, it was holding 8.47% of the company’s outstanding shares.
The second largest institutional holder is Blackrock Inc., which was holding about 10.95 million shares on Jun 29, 2023. The number of shares represents firm’s hold over 7.35% of outstanding shares, having a total worth of $189.96 million.
On the other hand, Smallcap World Fund and Vanguard Total Stock Market Index Fund are the top two Mutual Funds which own company’s shares. As of Jun 29, 2023, the former fund manager was holding 11.47 million shares of worth $198.81 million or 7.69% of the total outstanding shares. The later fund manager was in possession of 2.53 million shares on Jun 29, 2023, making its stake of worth around $43.81 million in the company or a holder of 1.69% of company’s stock.
