Insider Trading Discoveries at Credo Technology Group Holding Ltd (NASDAQ)
Credo Technology Group Holding Ltd closed at $75.95 on December 13, marking an 11.01% increase from the previous day’s closing price of $68.42. The stock’s beta (5Y monthly) sits at 2.188, with a daily price range of $70.61 – $76.525. Over a 52-week period, CRDO has seen a high of $75.32 and a low of $16.82, with a notable 65.58% increase in the past 30 days.
The company holds a market cap of $14.10 billion and is set to release its quarterly earnings report in January. Analysts foresee a consensus growth in revenue of $120.31M, showcasing significant potential for growth. The yearly revenue forecast for the current year is expected to reach $388.76M, reflecting an impressive 101.46% increase from the previous year’s figures.
Short term indicators rate the stock as an average of 100% Buy, with medium term indicators following suit. Out of 5 analysts, 5 rate CRDO as a Buy, with no Holds or Sells. The stock is currently trading 34.78% below its SMA20 and 63.58% below its 50-day simple moving average, with an RSI of 73.12.
Insiders hold 19.22% of the company’s shares, while institutional investors hold 75.99%. Additionally, short shares as of November 15, 2024, numbered 6.6 million with a short ratio of 2.71. Investors are viewing this stock optimistically, given its significant upside potential and strong year-to-date performance.
