The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Credo Technology Group Holding Ltd shares valued at $265,662 were sold by Brennan William Joseph on Nov 17 ’27. At $17.71 per share, Brennan William Joseph sold 15,000 shares. The insider’s holdings dropped to 3,867,421 shares worth approximately $83.61 million following the completion of this transaction.
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Also, Brennan William Joseph sold 15,000 shares, netting a total of over 216,762 in proceeds. Following the sale of shares at $14.45 each, the insider now holds 3,927,421 shares.
Before that, Lam Yat Tung had sold 92,267 shares from its account. In a trade valued at $1,850,651, the Chief Operating Officer traded Credo Technology Group Holding Ltd shares for $20.06 each. Upon closing the transaction, the insider’s holdings decreased to 92,267 shares, worth approximately $20.76 million.
As published in a research note from TD Cowen on February 28, 2024, Credo Technology Group Holding Ltd [CRDO] has been retained to a Market perform and the price target has been revised to $24. Analysts at TD Cowen resumed the stock at ‘”a Market perform”‘ outlook in a report released in late November. As of October 02, 2023, Barclays has initiated its “an Overweight” rating for CRDO. Earlier on August 25, 2023, TD Cowen resumed its rating. Their recommendation was “a Market perform” for CRDO stock.
Analyzing CRDO Stock Performance
During the last five days, there has been a surge of approximately 11.67%. Over the course of the year, Credo Technology Group Holding Ltd shares have jumped approximately 11.04%. Shares of the company reached a 52-week high of $23.90 on 02/28/24 and a 52-week low of $17.36 on 01/08/24. A 50-day SMA is recorded $21.16, while a 200-day SMA reached $17.72. Nevertheless, trading volume fell to 2.52 million shares from 1.78 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 21.02, which, if violated, would cause prices to drop to 20.42. In the upper region, resistance lies at 22.39. The next price resistance is at 23.16. RSI (Relative Strength Index) is 53.85 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.05, which suggests the price will decrease in the coming days. Percent R is at 45.61%, indicating low price movement. Stochastics %K at holding 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 rise in short interest on Feb 29, 2024 jumping by 90000.0 shares to 9.46 million. Data from Yahoo Finance shows that the short interest on Jan 31, 2024 was 9.37 million shares. A jump of 0.95% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 3.82 of the overall float, the days-to-cover ratio (short ratio) jumped to 3.82.
