Credo Technology Group Holding Ltd’s recently made public that its Chief Technology Officer Cheng Chi Fung unloaded Company’s shares for reported $2.23 million on Nov 18 ’24. In the deal valued at $40.59 per share,55,000 shares were sold. As a result of this transaction, Cheng Chi Fung now holds 8,673,602 shares worth roughly $397.6 million.
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Then, Lam Yat Tung sold 120,000 shares, generating $5,572,147 in total proceeds. Upon selling the shares at $46.43, the Chief Operating Officer now owns 600,000 shares.
Before that, Lam Yat Tung sold 10,000 shares. Credo Technology Group Holding Ltd shares valued at $464,370 were divested by the Chief Operating Officer at a price of $46.44 per share. As a result of the transaction, Lam Yat Tung now holds 2,862,672 shares, worth roughly $131.22 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 Friday, Credo Technology Group Holding Ltd [NASDAQ:CRDO] saw its stock fall -0.95% to $45.84. Over the last five days, the stock has gained 15.29%. Credo Technology Group Holding Ltd shares have risen nearly 135.44% since the year began. Nevertheless, the stocks have risen 143.96% 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 $37.37, while 200 days put it at $27.90.
Levels Of Support And Resistance For CRDO Stock
The 24-hour chart illustrates a support level at 45.21, which if violated will result in even more drops to 44.58. On the upside, there is a resistance level at 47.06. A further resistance level may holdings at 48.28. The Relative Strength Index (RSI) on the 14-day chart is 60.29, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.65, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 31.76%. Stochastics %K at 62.22% 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.
