Credo Technology Group Holding Ltd (NASDAQ:CRDO)’s traded shares stood at 3.82 million during the last session, with the company’s beta value hitting 2.18. At the close of trading, the stock’s price was $39.76, to imply a decrease of -5.11% or -$2.14 in intraday trading. The CRDO share’s 52-week high remains $48.94, putting it -23.09% down since that peak but still an impressive 57.7% since price per share fell to its 52-week low of $16.82. The company has a valuation of $6.60B, with an average of 2.68 million shares in intraday trading volume over the past 10 days and average of 2.57 million shares over the past 3 months.
Analysts have given a consensus recommendation of Buy for Credo Technology Group Holding Ltd (CRDO), translating to a mean rating of 1.33. Of 5 analyst(s) looking at the stock, 0 analyst(s) give CRDO a Sell rating. 0 of those analysts rate the stock as Overweight while 0 advise Hold as 5 recommend it as a Buy. 0 analyst(s) have given it an Underweight rating. Estimates put the company’s current-quarter earnings per share at 0.05.
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Credo Technology Group Holding Ltd (NASDAQ:CRDO) trade information
After registering a -5.11% downside in the last session, Credo Technology Group Holding Ltd (CRDO) has traded red over the past five days. The 5-day price performance for the stock is -17.17%, and 5.72% over 30 days. With these gigs, the year-to-date price performance is 104.21%. Short interest in Credo Technology Group Holding Ltd (NASDAQ:CRDO) saw shorts transact 5.93 million shares and set a 2.69 days time to cover.
The extremes give us $19 and $45 for target low and target high price respectively. As such, CRDO has been trading -13.18% off suggested target high and 52.21% from its likely low.
Credo Technology Group Holding Ltd (CRDO) estimates and forecasts
Looking at statistics comparing Credo Technology Group Holding Ltd share performance against respective industry, we note that the company has outperformed competitors. Credo Technology Group Holding Ltd (CRDO) shares are 110.48% up over the last 6 months, with its year-to-date growth rate higher than industry average at 288.89% against 19.20%. Revenue is forecast to grow 410.00% this quarter before jumping 168.50% for the next one. The rating firms project that company’s revenue will grow 65.89% compared to the previous financial year.
Revenue forecast for the current quarter as set by 9 analysts is 66.81M. Meanwhile, for the current quarter, a total of 9 analyst(s) estimate revenue growth to 85.93M.Earnings reports from the last fiscal year show that sales brought in 44.03M and 53.06M respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to rise 51.71% before jumping 61.96% in the following quarter.
CRDO Dividends
Credo Technology Group Holding Ltd has its next earnings report out on 2024-Dec-02. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too.
Credo Technology Group Holding Ltd (NASDAQ:CRDO)’s Major holders
Credo Technology Group Holding Ltd insiders hold 16.07% of total outstanding shares, with institutional holders owning 76.92% of the shares at 91.65% float percentage. In total, 76.92% institutions holds shares in the company, led by VANGUARD GROUP INC. As of 2024-06-30, the company held over 15.15 million shares (or 9.2574% of shares), all amounting to roughly $483.96 million.
The next major institution holding the largest number of shares is BLACKROCK INC. with 14.19 million shares, or about 8.671% of shares outstanding. As of the market price on 2024-06-30, these shares were worth $453.31 million.
