Credo Technology Group Holding Ltd’s recent filing unveils that its Officer William Joseph Brennan acquired Company’s shares for reported $2.05 million on Sep 06 ’24. In the deal valued at $14.23 per share,143,880 shares were bought.
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Then, Cheng Chi Fung sold 55,000 shares, generating $1,763,237 in total proceeds. Upon selling the shares at $32.06, the Chief Technology Officer now owns 9,113,602 shares.
Before that, Cheng Chi Fung sold 55,000 shares. Credo Technology Group Holding Ltd shares valued at $1,709,619 were divested by the Chief Technology Officer at a price of $31.08 per share. As a result of the transaction, Cheng Chi Fung now holds 9,168,602 shares, worth roughly $222.43 million.
TD Cowen reiterated its Credo Technology Group Holding Ltd [CRDO] rating to a Buy in a research note published on July 15, 2024; the price target was $40. A number of analysts have revised their coverage, including TD Cowen’s analysts, who increased its forecast for the stock in late June from “a Hold” to “a Buy”. TD Cowen also remained covering CRDO and reiterated its “Market perform” recommendation on February 28, 2024. TD Cowen maintained its rating on November 30, 2023. It rated CRDO as “a Market perform”.
Price Performance Review of CRDO
On Monday, Credo Technology Group Holding Ltd [NASDAQ:CRDO] saw its stock fall -0.49% to $24.26. Over the last five days, the stock has lost -30.51%. Credo Technology Group Holding Ltd shares have risen nearly 24.60% since the year began. Nevertheless, the stocks have risen 46.23% over the past one year. While a 52-week high of $36.80 was reached on 08/23/24, a 52-week low of $13.38 was recorded on 04/19/24. SMA at 50 days reached $30.18, while 200 days put it at $23.29.
Levels Of Support And Resistance For CRDO Stock
The 24-hour chart illustrates a support level at 23.89, which if violated will result in even more drops to 23.51. On the upside, there is a resistance level at 24.99. A further resistance level may holdings at 25.71. The Relative Strength Index (RSI) on the 14-day chart is 32.21, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -7.24, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 98.59%. Stochastics %K at 6.06% indicates the stock is a buying.
How much short interest is there in Credo Technology Group Holding Ltd?
A steep rise in short interest was recorded in Credo Technology Group Holding Ltd stocks on 2024-08-15, growing by 31203.0 shares to a total of 8.19 million shares. Yahoo Finance data shows the prior-month short interest on 2024-07-15 was 8.15 million shares. There was a rise of 0.38%, which implies that there is a positive sentiment for the stock.
The most recent change occurred on October 02, 2023 when Barclays began covering the stock and recommended ‘”an Overweight”‘ rating along with a $18 price target.
