In a filing, Credo Technology Group Holding Ltd revealed its Director TAN LIP BU unloaded Company’s shares for reported $4.62 million on Oct 07 ’24. In the deal valued at $32.29 per share,143,046 shares were sold. As a result of this transaction, TAN LIP BU now holds 2,270,679 shares worth roughly $73.89 million.
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Then, TAN LIP BU sold 125,000 shares, generating $3,882,876 in total proceeds. Upon selling the shares at $31.06, the Director now owns 2,513,725 shares.
Before that, TAN LIP BU sold 100,000 shares. Credo Technology Group Holding Ltd shares valued at $3,209,790 were divested by the Director at a price of $32.10 per share. As a result of the transaction, TAN LIP BU now holds 2,413,725 shares, worth roughly $78.54 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 -0.09% to $32.54. Over the last five days, the stock has gained 5.65%. Credo Technology Group Holding Ltd shares have risen nearly 67.13% since the year began. Nevertheless, the stocks have risen 97.69% 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 $29.59, while 200 days put it at $24.36.
Levels Of Support And Resistance For CRDO Stock
The 24-hour chart illustrates a support level at 31.82, which if violated will result in even more drops to 31.09. On the upside, there is a resistance level at 33.16. A further resistance level may holdings at 33.77. The Relative Strength Index (RSI) on the 14-day chart is 61.21, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.67, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 8.47%. Stochastics %K at 86.91% indicates the stock is a selling.
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 2024-09-13, dropping by -1.21 million shares to a total of 6.98 million shares. Yahoo Finance data shows the prior-month short interest on 2024-08-15 was 8.19 million shares. There was a decline of -17.28%, which implies that there is a negative 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.
