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Credo Technology Group Holding Ltd [CRDO] Investment Appeal on the Rise

Credo Technology Group Holding Ltd’s recent filing unveils that its Director CHENG HUANG FAMILY TRUST acquired Company’s shares for reported $34.61 million on Jan 02 ’25. In the deal valued at $67.21 per share,515,000 shares were bought.

Then, Lam Yat Tung sold 100,000 shares, generating $6,952,058 in total proceeds. Upon selling the shares at $69.52, the Chief Operating Officer now owns 300,000 shares.

Before that, Lam Yat Tung sold 100,000 shares. Credo Technology Group Holding Ltd shares valued at $6,803,472 were divested by the Chief Operating Officer at a price of $68.03 per share. As a result of the transaction, Lam Yat Tung now holds 400,000 shares, worth roughly $28.96 million.

Susquehanna initiated its Credo Technology Group Holding Ltd [CRDO] rating to a Neutral in a research note published on December 17, 2024; the price target was $80. A number of analysts have revised their coverage, including BofA Securities’s analysts, who increased its forecast for the stock in early December from “an Underperform” to “a Buy”. TD Cowen also remained covering CRDO and reiterated its “Buy” recommendation on December 03, 2024. Needham maintained its rating on December 03, 2024. It rated CRDO as “a Buy”.

Price Performance Review of CRDO

On Friday, Credo Technology Group Holding Ltd [NASDAQ:CRDO] saw its stock jump 2.06% to $72.39. Over the last five days, the stock has gained 0.51%. Credo Technology Group Holding Ltd shares have risen nearly 7.71% since the year began. Nevertheless, the stocks have risen 300.17% over the past one year. While a 52-week high of $78.97 was reached on 01/03/25, a 52-week low of $16.82 was recorded on 01/02/25. SMA at 50 days reached $55.13, while 200 days put it at $33.88.

Levels Of Support And Resistance For CRDO Stock

The 24-hour chart illustrates a support level at 70.15, which if violated will result in even more drops to 67.91. On the upside, there is a resistance level at 73.87. A further resistance level may holdings at 75.35. The Relative Strength Index (RSI) on the 14-day chart is 61.45, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.30, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 44.95%. Stochastics %K at 39.94% 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 2024-11-15, dropping by -0.35 million shares to a total of 6.6 million shares. Yahoo Finance data shows the prior-month short interest on 2024-10-15 was 6.94 million shares. There was a decline of -5.25%, which implies that there is a negative sentiment for the stock.

The most recent change occurred on July 15, 2024 when TD Cowen resumed its ‘”a Buy”‘ rating for the stock and retained the price target to $40.

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