Credo Technology Group Holding Ltd (NASDAQ:CRDO) shares, rose in value on Wednesday, November 20, with price down by -2.21% to the previous day’s close as strong demand from buyers drove the stock to $42.97.
Actively observing the price movement in the last trading, the stock closed the session at $43.94, falling within a range of $42.25 and $44.6. The value of beta (5-year monthly) was 2.188. Referring to stock’s 52-week performance, its high was $48.94, and the low was $16.82. On the whole, CRDO has fluctuated by 8.24% over the past month.
With the market capitalization of Credo Technology Group Holding Ltd currently standing at about $7.14 billion, investors are eagerly awaiting this quarter’s results, scheduled for in December.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that CRDO’s technical picture suggests that short-term indicators denote the stock is a 100% Buy on average. However, medium-term indicators have put the stock in the category of 100% Buy while long-term indicators on average have been pointing out that it is a 100% Buy.
The stock’s technical analysis shows that the price of CRDO currently trading nearly 1.40% and 17.24% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 55.06, while the 7-day volatility ratio is showing 7.31% which for the 30-day chart, stands at 5.52%. Furthermore, Credo Technology Group Holding Ltd (CRDO)’s beta value is 2.20, and its average true range (ATR) is 2.48.
A comparison of Credo Technology Group Holding Ltd (CRDO) with its peers suggests the former has fared considerably weaker in the market. CRDO showed an intraday change of -2.21% in last session, and over the past year, it grew by 136.23%%.
Data on historical trading for Credo Technology Group Holding Ltd (NASDAQ:CRDO) indicates that the trading volumes over the past 10 days have averaged 2.68 and over the past 3 months, they’ve averaged 2.63 million. According to company’s latest data on outstanding shares, there are 164.31 million shares outstanding.
Nearly 19.52% of Credo Technology Group Holding Ltd’s shares belong to company insiders and institutional investors own 75.99% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 5.93 million shares as on 2024-10-31, resulting in a short ratio of 2.69. According to the data, the short interest in Credo Technology Group Holding Ltd (CRDO) stood at 424.00 of shares outstanding as of 2024-10-31; the number of short shares registered in 2024-09-30 reached 7.45 million. The stock has risen by 120.70% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the CRDO stock heading into the next quarter.
