Credo Technology Group Holding Ltd (NASDAQ:CRDO) has a beta value of 2.23 and has seen 2.13 million shares traded in the last trading session. The company, currently valued at $7.54B, closed the last trade at $45.84 per share which meant it lost -$0.44 on the day or -0.95% during that session. The CRDO stock price is -6.76% off its 52-week high price of $48.94 and 63.31% above the 52-week low of $16.82. If we look at the company’s 10-day average daily trading volume, we find that it stood at 2.55 million shares traded. The 3-month trading volume is 2.61 million shares.
The consensus among analysts is that Credo Technology Group Holding Ltd (CRDO) is Buy stock at the moment, with a recommendation rating of 1.33. 0 analysts rate the stock as a Sell, while 0 rate it as Overweight. 0 out of 5 have rated it as a Hold, with 5 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is 0.05.
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Credo Technology Group Holding Ltd (NASDAQ:CRDO) trade information
Sporting -0.95% in the red in last session, the stock has traded in the green over the last five days, with the highest price hit on recent trading when the CRDO stock price touched $45.84 or saw a rise of 3.8%. Year-to-date, Credo Technology Group Holding Ltd shares have moved 135.44%, while the 5-day performance has seen it change 15.29%. Over the past 30 days, the shares of Credo Technology Group Holding Ltd (NASDAQ:CRDO) have changed 17.51%. Short interest in the company has seen 5.93 million shares shorted with days to cover at 2.69.
Wall Street analysts have a consensus price target for the stock at $38, which means that the shares’ value could drop -20.63% from current levels. The projected low price target is $19.0 while the price target rests at a high of $45.0. In that case, then, we find that the current price level is 1.83% off the targeted high while a plunge would see the stock lose 58.55% from current levels.
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 129.54% over the past 6 months, with this year growth rate of 288.89%, compared to -2.40% for the industry. Revenue growth from the last financial year stood is estimated to be 65.89%.
9 analysts offering their estimates for the company have set an average revenue estimate of 66.81M for the current quarter. 9 have an estimated revenue figure of 85.93M for the next ending quarter. Year-ago sales stood 44.03M and 53.06M respectively for this quarter and the next, and analysts expect sales will grow by 51.71% for the current quarter and 65.89% for the next.
Earnings growth for 2024 is a modest 295.90% while over the next 5 years, the company’s earnings are expected to increase by 63.57%.
CRDO Dividends
Credo Technology Group Holding Ltd is expected to release its next earnings report in December 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 15.87% of the company shares, while shares held by institutions stand at 76.86% with a share float percentage of 91.35%. Investors are also buoyed by the number of investors in a company, with Credo Technology Group Holding Ltd having a total of 359.0 institutions that hold shares in the company. The top two institutional holders are VANGUARD GROUP INC with over 15.15 million shares worth more than $483.96 million. As of 2024-06-30, VANGUARD GROUP INC held 9.2574% of shares outstanding.
The other major institutional holder is BLACKROCK INC., with the holding of over 14.19 million shares as of 2024-06-30. The firm’s total holdings are worth over $453.31 million and represent 8.671% 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 30, 2024 , the former fund manager holds about 3.01% shares in the company for having 5.01 shares of worth $229.44 million while later fund manager owns 4.17 shares of worth $191.11 million as of Jun 30, 2024 , which makes it owner of about 2.51% of company’s outstanding stock.
