Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Credo Technology Group Holding Ltd shares valued at $3,182,858 were sold by Cheng Chi Fung on Jan 27 ’25. At $57.87 per share, Cheng Chi Fung sold 55,000 shares. The insider’s holdings dropped to 8,213,602 shares worth approximately $482.88 million following the completion of this transaction.
Also, Cheng Chi Fung sold 60,000 shares, netting a total of over 4,834,255 in proceeds. Following the sale of shares at $80.57 each, the insider now holds 8,268,602 shares.
Before that, Lam Yat Tung had sold 100,000 shares from its account. In a trade valued at $8,056,504, the Chief Operating Officer traded Credo Technology Group Holding Ltd shares for $80.57 each. Upon closing the transaction, the insider’s holdings decreased to 100,000 shares, worth approximately $5.88 million.
As published in their initiating research note from Susquehanna on December 17, 2024, Credo Technology Group Holding Ltd [CRDO] has been a Neutral and the price target has been revised to $80. Analysts at BofA Securities upgraded the stock from ‘”an Underperform”‘ to ‘”a Buy”‘ outlook in a report released in early December. As of December 03, 2024, TD Cowen has reiterated its “Buy” rating for CRDO. Earlier on December 03, 2024, Needham resumed its rating. Their recommendation was “a Buy” for CRDO stock.
Analyzing CRDO Stock Performance
During the last five days, there has been a drop of approximately -31.24%. Over the course of the year, Credo Technology Group Holding Ltd shares have dropped approximately -12.53%. Shares of the company reached a 52-week high of $86.69 on 01/22/25 and a 52-week low of $51.80 on 01/27/25. A 50-day SMA is recorded $65.04, while a 200-day SMA reached $38.00. Nevertheless, trading volume fell to 5.62 million shares from 8.57 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 57.08, which, if violated, would cause prices to drop to 55.36. In the upper region, resistance lies at 60.66. The next price resistance is at 62.52. RSI (Relative Strength Index) is 38.95 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -15.38, which suggests the price will decrease in the coming days. Percent R is at 79.97%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
