In recent trading session, Credo Technology Group Holding Ltd (NASDAQ:CRDO) saw 0.56 million shares changing hands at last check today with its beta currently measuring 2.22. Company’s recent per share price level of $50.08 trading at $4.37 or 9.56% at last check today assigns it a market valuation of $8.32B. That most recent trading price of CRDO’s stock is at a premium of 2.28% from its 52-week high price of $48.94 and is indicating a premium of 66.41% from its 52-week low price of $16.82. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 2.81 million shares which gives us an average trading volume of 2.63 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 1.33. 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.
Credo Technology Group Holding Ltd (NASDAQ:CRDO) trade information
Upright in the green today for gaining 9.56%, in the last five days CRDO remained trading in the green while hitting it’s week-highest on Friday, 11/29/24 when the stock touched $50.08 price level, subtracting -1.83% to its value on the day. Credo Technology Group Holding Ltd’s shares saw a change of 157.21% in year-to-date performance and have moved 8.21% in past 5-day. Credo Technology Group Holding Ltd (NASDAQ:CRDO) showed a performance of 24.79% in past 30-days. Number of shares sold short was 6.6 million shares which calculate 2.71 days to cover the short interests.
Wall Street analysts have assigned a consensus price target of 38 to the stock, which implies a fall of -31.79% to its recent value today. Analysts have been projecting 19 as a low price target for the stock while placing it at a high target of 45. It follows that stock’s current price would jump 62.06% in reaching the projected high whereas dropping to the targeted low would mean a gain of 62.06% 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 92.09% of value to its shares in past 6 months, showing an annual growth rate of 288.89% while that of industry is -3.00. Apart from that, the company came raising its revenue forecast for fiscal year 2024. This year revenue growth is estimated to rise 65.89% 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 66.81M for the same. And 9 analysts are in estimates of company making revenue of 85.93M in the next quarter. Company posted 44.03M and 53.06M of sales in current and next quarters respectively a year earlier.
In 2024, company’s earnings growth rate is likely to be around 295.90% 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 15.87% of company’s total shares while institution are holding 76.88 percent of that, with stock having share float percentage of 91.38%. Investors also watch the number of corporate investors in a company very closely, which is 76.88% 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.
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 30, 2024 , the former fund manager was holding 5.01 shares of worth $254.24 million or 3.01% of the total outstanding shares. The later fund manager was in possession of 4.17 shares on Jun 30, 2024 , making its stake of worth around $211.77 million in the company or a holder of 2.51% of company’s stock.
