The trading price of Credo Technology Group Holding Ltd (NASDAQ:CRDO) floating lower at last check on current market day and closing at $67.45, -9.13% lower than its previous close.
Traders who pay close attention to intraday price movement should know that it has been fluctuating between $67.03 and $74.68. In examining the 52-week price action we see that the stock hit a 52-week high of $75.32 and a 52-week low of $16.82. Over the past month, the stock has gained 43.45% in value.
Credo Technology Group Holding Ltd, whose market valuation is $11.89 billion at the time of this writing, is expected to release its quarterly earnings report in January. Investors’ optimism about the company’s current quarter earnings report is understandable. Analysts have predicted the quarterly earnings per share to grow by 0.18 per share this quarter, however they have predicted annual earnings per share of 0.51 for current year and 1.0 for next year.
Analysts have forecast the company to bring in revenue of 120.31M for the current quarter, with the likely lows of 119.8M and highs of 123M. From the analysts’ viewpoint, the consensus estimate for the company’s annual revenue is 388.76M.
On the technical side, indicators suggest CRDO has a 100% Buy on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 100% Buy, while an average of long term indicators suggests that the stock is currently 100% Buy.
Here is the average analyst rating on the stock as represented by 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock should be considered as either strong buy or strong sell respectively. The number of analysts that have assigned CRDO a recommendation rating is 5. Out of them, 0 rate it a Hold, while 5 recommend Buy, whereas 0 assign an Overweight rating. 0 analyst(s) have tagged Credo Technology Group Holding Ltd (CRDO) as Underweight, while 0 advise Sell. Analysts have rated the stock Buy, likely urging investors to take advantage of the opportunity to add to their holdings of the company’s shares.
A quick review shows that CRDO’s price is currently 31.22% off the SMA20 and 55.85% off the SMA50. The RSI metric on the 14-day chart is currently showing 68.96, and weekly volatility stands at 9.26%. When measured over the past 30 days, the indicator reaches 7.00%. Credo Technology Group Holding Ltd (NASDAQ:CRDO)’s beta value is currently sitting at 2.26, while the Average True Range indicator is currently displaying 4.93. With analysts defining $32-$49 as the low and high price targets, we arrive at a consensus price target of $40 for the trailing 12-month period. The current price is about 52.56% off the estimated low and 27.35% off the forecast high, based on this estimate. Investors will be thrilled if CRDO’s share price rises to $40, which is the median consensus price. At that level, CRDO’s share price would be 40.7% above current price.
To see how Credo Technology Group Holding Ltd stock has been performing today in comparison to its peers in the industry, here are the numbers: CRDO stock’s performance was -9.13% at last check in today’s session, and 278.29% in the past year.
An evaluation of the daily trading volume of Credo Technology Group Holding Ltd (NASDAQ:CRDO) indicates that the 3-month average is 2.88 million. However, this figure has increased over the past 10 days to an average of 5.52.
Currently, records show that 167.16 million of the company’s shares remain outstanding. The insiders hold 19.43% of outstanding shares, whereas institutions hold 75.99%. The stats also highlight that short interest as of 2024-11-15, stood at 6.6 million shares, resulting in a short ratio of 2.71 at that time. From this, we can conclude that short interest is 472.00 of the company’s total outstanding shares. It is noteworthy that short shares in November were down slightly from the previous month’s figure, which was 6.94 million. However, since the stock’s price has seen 246.43% year-to-date, investors’ interest is likely to be reignited due to its potential to move even higher.
