Credo Technology Group Holding Ltd’s recent filing unveils that its Chief Operating Officer Lam Yat Tung unloaded Company’s shares for reported $5.57 million on Nov 12 ’24. In the deal valued at $46.43 per share,120,000 shares were sold. As a result of this transaction, Lam Yat Tung now holds 600,000 shares worth roughly $23.86 million.
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Then, Lam Yat Tung sold 10,000 shares, generating $464,370 in total proceeds. Upon selling the shares at $46.44, the Chief Operating Officer now owns 2,862,672 shares.
Before that, YatTung Lam bought 30,000 shares. Credo Technology Group Holding Ltd shares valued at $1,394,400 were divested by the Director at a price of $46.48 per share.
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 Friday, Credo Technology Group Holding Ltd [NASDAQ:CRDO] saw its stock fall -5.11% to $39.76. Over the last five days, the stock has lost -17.17%. Credo Technology Group Holding Ltd shares have risen nearly 104.21% since the year began. Nevertheless, the stocks have risen 128.37% over the past one year. While a 52-week high of $48.94 was reached on 11/11/24, a 52-week low of $16.82 was recorded on 04/19/24. SMA at 50 days reached $35.62, while 200 days put it at $27.33.
Levels Of Support And Resistance For CRDO Stock
The 24-hour chart illustrates a support level at 38.82, which if violated will result in even more drops to 37.88. On the upside, there is a resistance level at 41.06. A further resistance level may holdings at 42.36. The Relative Strength Index (RSI) on the 14-day chart is 47.81, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.47, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 76.18%. Stochastics %K at 46.64% indicates the stock is a holding.
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 2024-10-31, dropping by -1.52 million shares to a total of 5.93 million shares. Yahoo Finance data shows the prior-month short interest on 2024-09-30 was 7.45 million shares. There was a decline of -25.69%, 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.
