Credo Technology Group Holding Ltd (NASDAQ:CRDO) shares, rose in value, with the stock price up by 1.08% to the previous day’s close as strong demand from buyers drove the stock to $17.78.
Actively observing the price movement in the last trading, the stock closed the session at $17.59. Referring to stock’s 52-week performance, its high was $23.90, and the low was $7.20. On the whole, CRDO has fluctuated by -20.30% over the past month.
Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 192.53M, with a low estimate of 60.47M and a high estimate of 61.81M. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 60.72M.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that CRDO’s technical picture suggests that short-term indicators denote the stock is a 50% Sell on average. However, medium-term indicators have put the stock in the category of 50% Buy while long-term indicators on average have been pointing out that it is a 50% Sell.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of CRDO currently trading nearly -13.02% and -15.77% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 36.98, while the 7-day volatility ratio is showing 4.51% which for the 30-day chart, stands at 5.56%. Furthermore, Credo Technology Group Holding Ltd (CRDO)’s beta value is 2.04, and its average true range (ATR) is 1.09.
A comparison of Credo Technology Group Holding Ltd (CRDO) with its peers suggests the former has fared considerably weaker in the market. CRDO showed an intraday change of 1.08% in last session, and over the past year, it grew by 111.16%%.
Data on historical trading for Credo Technology Group Holding Ltd (NASDAQ:CRDO) indicates that the trading volumes over the past 3 months, they’ve averaged 2.12 million. According to company’s latest data on outstanding shares, there are 148.65 million shares outstanding.
Nearly 22.47% of Credo Technology Group Holding Ltd’s shares belong to company insiders and institutional investors own 67.02% of the company’s shares. The stock has fallen by -8.68% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the CRDO stock heading into the next quarter.
