Cleveland-Cliffs Inc. (NYSE:CLF) Stock Still Very Undervalued


The CLF stock price fluctuated between $23.91 and $25.83 throughout the trading session with the volume trading being 51M shares, which represented a positive variation when compared to the three months average volume of 29M shares.

The share price of Cleveland-Cliffs Inc. (NYSE:CLF) ran up 5.52% to close Thursday’s market session at $24.86, higher as compared to yesterday’s close which brings the market valuation of the company to $12.42B.

The 52-week high for the Cleveland-Cliffs Inc.’s shares is $25.83. That puts it -3.76% from that peak but still a nice gain since the share price dropped to a 52-week low of $5.16, while the S&P 500’s share price change was of 35%.

What does the trading volume tell us about the CLF stock?

During the last trading session, Cleveland-Cliffs Inc. (NYSE:CLF) has seen growth in its daily volume. The daily volume was of 29M, while in the last 10 days the average was 29.11M and last three months – 28.83M.
The increasing interest in the CLF stock from the investors is helping to drive the stock price up.

Shrinking short interest

The Cleveland-Cliffs Inc.’s shares are seeing a decreasing short interest compared to the previous month. As of today, there are 41.89M shares being shorted which translates into 2.09 of a short ratio for CLF, while in the previous month the shorted shares were 43.2M.

Cleveland-Cliffs Inc. (NYSE:CLF) financials

With a market cap of 12.42B, Cleveland-Cliffs Inc. holds a total cash of $110M that translates into $0.22 per share, while the total debt is of $5.73B.

The company has seen a decrease in the revenue with a year-over-year quarterly revenue growth percentage of 1,027.90%. The current revenue is of $9.04B that is $21.18 per share.
This is a not so good sign for the future.