Credo Technology Group Holding Ltd [CRDO] Records 200-Day SMA of $12.24

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Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Credo Technology Group Holding Ltd shares valued at $2,523,216 were sold by Cheng Chi Fung on May 22. At $10.51 per share, Cheng Chi Fung sold 240,000 shares. The insider’s holdings dropped to 400,000 shares worth approximately $4.79 million following the completion of this transaction.

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Also, Brennan William Joseph sold 24,446 shares, netting a total of over 243,123 in proceeds. Following the sale of shares at $9.95 each, the insider now holds 225,554 shares.

Before that, Cheng Chi Fung had sold 6,250 shares from its account. In a trade valued at $65,099, the Chief Technology Officer traded Credo Technology Group Holding Ltd shares for $10.42 each. Upon closing the transaction, the insider’s holdings decreased to 6,250 shares, worth approximately $134.86 million.

Analyzing CRDO Stock Performance

On Thursday, Credo Technology Group Holding Ltd [NASDAQ: CRDO] rose 9.61% to $11.98. The stock’s lowest price that day was $11.14, but it reached a high of $12.87 in the same session. During the last five days, there has been a surge of approximately 17.57%. Over the course of the year, Credo Technology Group Holding Ltd shares have dropped approximately -9.99%. Shares of the company reached a 52-week high of $19.46 on 02/14/23 and a 52-week low of $7.20 on 05/04/23. A 50-day SMA is recorded $8.77, while a 200-day SMA reached $12.24. Nevertheless, trading volume fell to 3.97 million shares from 1.47 million shares the previous day.

Support And Resistance Levels for Credo Technology Group Holding Ltd (CRDO)

According to the 24-hour chart, there is a support level at 11.12, which, if violated, would cause prices to drop to 10.27. In the upper region, resistance lies at 12.85. The next price resistance is at 13.73. RSI (Relative Strength Index) is 80.82 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.93, which suggests the price will increase in the coming days. Percent R is at 16.39%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.

Is Credo Technology Group Holding Ltd subject to short interest?

Stocks of Credo Technology Group Holding Ltd saw a sharp steep in short interest on May 14, 2023 dropping by -1.26 million shares to 6.37 million. Data from Yahoo Finance shows that the short interest on Apr 13, 2023 was 7.63 million shares. A decline of -19.78% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 5.59 of the overall float, the days-to-cover ratio (short ratio) decline to 5.59.

Which companies own the most shares of Credo Technology Group Holding Ltd (CRDO)?

According to Capital Research & Management Co filings, the company currently owns 12,463,279 shares, which is about 8.39% of the total CRDO shares outstanding. The investor’s shares have appreciated by 3,713,197 from its previous 13-F filing of 8750082.0 shares. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $61,462,933. SSgA Funds Management, Inc. acquire a 60.41% interest valued at $51.28 million while BlackRock Fund Advisors sold a -4,413 stake. A total of -4,995 shares of Credo Technology Group Holding Ltd were sold by Point72 Asset Management LP during the quarter, and 1,202,399 were bought by T. Rowe Price Investment Manageme. In its current portfolio, Schonfeld Strategic Advisors LLC holds 3,132,500 shares valued at $25.4 million.

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