Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Credo Technology Group Holding Ltd shares valued at $10,129,152 were purchased by William Joseph Brennan on Dec 05 ’24. At $70.40 per share, William Joseph Brennan acquired 143,880 shares.
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Also, WALDEN TECHNOLOGY VENTURES II purchased 3,799 shares, netting a total of over 268,690 in proceeds.
Before that, Cheng Chi Fung had sold 55,000 shares from its account. In a trade valued at $2,671,353, the Chief Technology Officer traded Credo Technology Group Holding Ltd shares for $48.57 each. Upon closing the transaction, the insider’s holdings decreased to 55,000 shares, worth approximately $606.75 million.
As published in a research note from BofA Securities on December 03, 2024, Credo Technology Group Holding Ltd [CRDO] has been rated up from an Underperform to a Buy and the price target has been revised to $80. Analysts at TD Cowen resumed the stock at ‘”a Buy”‘ outlook in a report released in early December. As of December 03, 2024, Needham has reiterated its “Buy” rating for CRDO. Earlier on July 15, 2024, TD Cowen resumed its rating. Their recommendation was “a Buy” for CRDO stock.
Analyzing CRDO Stock Performance
During the last five days, there has been a surge of approximately 54.01%. Over the course of the year, Credo Technology Group Holding Ltd shares have jumped approximately 261.58%. Shares of the company reached a 52-week high of $75.30 on 12/04/24 and a 52-week low of $16.82 on 04/19/24. A 50-day SMA is recorded $41.70, while a 200-day SMA reached $29.24. Nevertheless, trading volume fell to 5.63 million shares from 7.44 million shares the previous day.
Support And Resistance Levels for Credo Technology Group Holding Ltd (CRDO)
According to the 24-hour chart, there is a support level at 66.85, which, if violated, would cause prices to drop to 63.30. In the upper region, resistance lies at 73.11. The next price resistance is at 75.82. RSI (Relative Strength Index) is 79.39 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 19.63, which suggests the price will increase in the coming days. Percent R is at 13.57%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
