Credo Technology Group Holding Ltd (NASDAQ:CRDO) shares traded -14.86% lower at $26.65 on Wall Street last session.
CRDO stock price is now -12.57% away from the 50-day moving average and 14.96% away from the 200-day moving average. The market capitalization of the company currently stands at $4.42B.
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With the price target enhanced from $35 to $40, TD Cowen maintained Buy rating for Credo Technology Group Holding Ltd (NASDAQ: CRDO). On June 25, 2024, TD Cowen Upgraded its previous ‘Hold’ rating to ‘Buy’ on the stock increasing its target price from $24 to quote $35, while the TD Cowen previously rated the stock as ‘Market Perform’ on February 28, 2024.
In other news, Cheng Chi Fung, Chief Technology Officer sold 55,000 shares of the company’s stock on Sep 03 ’24. The stock was sold for $1,763,237 at an average price of $32.06. Upon completion of the transaction, the Chief Technology Officer now directly owns 9,113,602 shares in the company, valued at $242.88 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 19 ’24, Chief Technology Officer Cheng Chi Fung sold 55,000 shares of the business’s stock. A total of $1,709,619 was realized by selling the stock at an average price of $31.08. This leaves the insider owning 9,168,602 shares of the company worth $244.34 million. A total of 20.33% of the company’s stock is owned by insiders.
During the past 12 months, Credo Technology Group Holding Ltd has had a low of $13.38 and a high of $36.80. As of last week, the company has a debt-to-equity ratio of 0.02, a current ratio of 7.81, and a quick ratio of 7.36. The fifty day moving average price for CRDO is $30.4828 and a two-hundred day moving average price translates $23.1824 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 -12.05% and return on equity was -5.82% for CRDO. The company reported revenue of $60.78 million for the quarter, compared to $32.09 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 89.42 percent.
