In a filing, Credo Technology Group Holding Ltd revealed its Chief Technology Officer Cheng Chi Fung unloaded Company’s shares for reported $2.16 million on Oct 21 ’24. In the deal valued at $39.24 per share,55,000 shares were sold. As a result of this transaction, Cheng Chi Fung now holds 8,838,602 shares worth roughly $354.78 million.
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Then, Fleming Daniel W. sold 3,790 shares, generating $136,975 in total proceeds. Upon selling the shares at $36.14, the Chief Financial Officer now owns 671,420 shares.
Before that, TAN LIP BU sold 100,000 shares. Credo Technology Group Holding Ltd shares valued at $3,815,600 were divested by the Director at a price of $38.16 per share. As a result of the transaction, TAN LIP BU now holds 1,763,725 shares, worth roughly $70.8 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 jump 2.45% to $40.14. Over the last five days, the stock has gained 0.53%. Credo Technology Group Holding Ltd shares have risen nearly 106.16% since the year began. Nevertheless, the stocks have risen 192.78% over the past one year. While a 52-week high of $40.37 was reached on 10/28/24, a 52-week low of $13.38 was recorded on 04/19/24. SMA at 50 days reached $32.79, while 200 days put it at $25.76.
Levels Of Support And Resistance For CRDO Stock
The 24-hour chart illustrates a support level at 39.17, which if violated will result in even more drops to 38.20. On the upside, there is a resistance level at 40.85. A further resistance level may holdings at 41.56. The Relative Strength Index (RSI) on the 14-day chart is 70.18, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.32, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 7.11%. Stochastics %K at 87.35% 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 2024-10-15, dropping by 34823.0 shares to a total of 6.94 million shares. Yahoo Finance data shows the prior-month short interest on 2024-09-13 was 6.98 million shares. There was a decline of -0.5%, 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.
