In last trading session, Credo Technology Group Holding Ltd (NASDAQ:CRDO) saw 1.66 million shares changing hands with its beta currently measuring 2.24. Company’s recent per share price level of $37.31 trading at -$0.3 or -0.80% at ring of the bell on the day assigns it a market valuation of $6.20B. That closing price of CRDO’s stock is at a discount of -8.2% from its 52-week high price of $40.37 and is indicating a premium of 64.14% from its 52-week low price of $13.38. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 2.46 million shares which gives us an average trading volume of 2.36 million if we extend that period to 3-months.
For Credo Technology Group Holding Ltd (CRDO), analysts’ consensus is at an average recommendation of Buy while assigning it a mean rating of 1.31. Splitting up the data highlights that, out of 5 analysts covering the stock, 0 rated the stock as a Sell while 0 recommended an Overweight rating for the stock. 0 suggested the stock as a Hold whereas 5 see the stock as a Buy. 0 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of 0.05 in the current quarter.
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Credo Technology Group Holding Ltd (NASDAQ:CRDO) trade information
Upright in the red during last session for losing -0.80%, in the last five days CRDO remained trading in the red while hitting it’s week-highest on Monday, 10/14/24 when the stock touched $37.31 price level, adding 7.58% to its value on the day. Credo Technology Group Holding Ltd’s shares saw a change of 91.63% in year-to-date performance and have moved -2.48% in past 5-day. Credo Technology Group Holding Ltd (NASDAQ:CRDO) showed a performance of 28.74% in past 30-days. Number of shares sold short was 7.45 million shares which calculate 2.36 days to cover the short interests.
Wall Street analysts have assigned a consensus price target of 35.5 to the stock, which implies a fall of -5.1% to its current value. Analysts have been projecting 19 as a low price target for the stock while placing it at a high target of 42. It follows that stock’s current price would jump 49.08% in reaching the projected high whereas dropping to the targeted low would mean a gain of 49.08% for stock’s current value.
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 120.51% of value to its shares in past 6 months, showing an annual growth rate of 288.89% while that of industry is 19.20. Apart from that, the company came raising its revenue forecast for fiscal year 2024. This year revenue growth is estimated to rise 65.00% 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 66.79M for the same. And 9 analysts are in estimates of company making revenue of 85.94M in the next quarter.
In 2024, company’s earnings growth rate is likely to be around 304.94% while estimates for its earnings growth in next 5 years are of 63.57%.
Credo Technology Group Holding Ltd (NASDAQ:CRDO)’s Major holders
Insiders are in possession of 16.11% of company’s total shares while institution are holding 77.01 percent of that, with stock having share float percentage of 91.80%. Investors also watch the number of corporate investors in a company very closely, which is 77.01% institutions for Credo Technology Group Holding Ltd that are currently holding shares of the company. VANGUARD GROUP INC is the top institutional holder at CRDO for having 15.15 million shares of worth $483.96 million. And as of 2024-06-30, it was holding 9.2574 of the company’s outstanding shares.
The second largest institutional holder is BLACKROCK INC., which was holding about 14.19 million shares on 2024-06-30. The number of shares represents firm’s hold over 8.671 of outstanding shares, having a total worth of $453.31 million.
