In yesterday’s Wall Street session, Credo Technology Group Holding Ltd (NASDAQ:CRDO) shares traded at $25.69, up 27.05% from the previous session.
CRDO stock price is now 31.75% away from the 50-day moving average and 39.87% away from the 200-day moving average. The market capitalization of the company currently stands at $4.19B.
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With the price target enhanced from $20 to $24, TD Cowen maintained Market Perform rating for Credo Technology Group Holding Ltd (NASDAQ: CRDO). On November 30, 2023, TD Cowen reiterated its ‘Market Perform’ rating on the stock by increasing its target price from $16 to quote $20, while ‘Barclays’ rates the stock as ‘Overweight’
In other news, Brennan William Joseph, Pres & Chief Executive Officer sold 15,000 shares of the company’s stock on Nov 17 ’27. The stock was sold for $265,662 at an average price of $17.71. Upon completion of the transaction, the Pres & Chief Executive Officer now directly owns 3,867,421 shares in the company, valued at $99.35 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Oct 24 ’24, Pres & Chief Executive Officer Brennan William Joseph sold 15,000 shares of the business’s stock. A total of $216,762 was realized by selling the stock at an average price of $14.45. This leaves the insider owning 3,927,421 shares of the company worth $100.9 million. A total of 22.29% of the company’s stock is owned by insiders.
During the past 12 months, Credo Technology Group Holding Ltd has had a low of $13.06 and a high of $23.90. As of last week, the company has a debt-to-equity ratio of 0.02, a current ratio of 11.88, and a quick ratio of 11.30. The fifty day moving average price for CRDO is $19.4996 and a two-hundred day moving average price translates $18.367374 for the stock.
The latest earnings results from Credo Technology Group Holding Ltd (NASDAQ: CRDO) was released for 2024-04-27. The net profit margin was -14.70% and return on equity was -6.39% for CRDO. The company reported revenue of $53.06 million for the quarter, compared to $54.27 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -2.23 percent.
