The stock of Credo Technology Group Holding Ltd (NASDAQ:CRDO) last traded at $58.15, up 4.59% from the previous session.
CRDO stock price is now -10.24% away from the 50-day moving average and 53.73% away from the 200-day moving average. The market capitalization of the company currently stands at $9.72B.
Top 5 Artificial Intelligence Stocks to Buy for 2024
By now, you're well aware of the artificial intelligence boom. You know Big Tech has been investing billions of dollars into it.
According to Next Move Strategy Consulting, the AI market – currently valued at about $100 billion – cold grow twenty-fold by 2030 to more than $2 trillion. That means you may want to strongly consider these top AI stocks. Get our free report, "Top 5 AI Stocks to Buy in 2024."
Click here to automatically get the our FREE Report & Special Offer "5 Best AI Stocks to Invest In"
Sponsored
With the price target of $80, Susquehanna recently initiated with Neutral rating for Credo Technology Group Holding Ltd (NASDAQ: CRDO). On December 03, 2024, BofA Securities Upgraded its previous ‘Underperform’ rating to ‘Buy’ on the stock keeping its target price maintained at $80, while ‘TD Cowen’ rates the stock as ‘Buy’
In other news, Cheng Chi Fung, Chief Technology Officer sold 60,000 shares of the company’s stock on Jan 21 ’25. The stock was sold for $4,834,255 at an average price of $80.57. Upon completion of the transaction, the Chief Technology Officer now directly owns 8,268,602 shares in the company, valued at $480.82 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jan 21 ’25, Chief Operating Officer Lam Yat Tung sold 100,000 shares of the business’s stock. A total of $8,056,504 was realized by selling the stock at an average price of $80.57. This leaves the insider owning 100,000 shares of the company worth $5.82 million. A total of 18.26% of the company’s stock is owned by insiders.
During the past 12 months, Credo Technology Group Holding Ltd has had a low of $16.82 and a high of $86.69. As of last week, the company has a debt-to-equity ratio of 0.03, a current ratio of 10.84, and a quick ratio of 10.11. The fifty day moving average price for CRDO is $64.5496 and a two-hundred day moving average price translates $37.640526 for the stock.
The latest earnings results from Credo Technology Group Holding Ltd (NASDAQ: CRDO) was released for 2024-08-03. The net profit margin was -9.70% and return on equity was -5.19% for CRDO. The company reported revenue of $59.71 million for the quarter, compared to $35.09 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 70.15 percent.
