The RY stock price fluctuated between $100.7 and $102.04 throughout the trading session with the volume trading being 292863 shares, which represented a negative variation when compared to the three months average volume of 1M shares.
The share price of Royal Bank of Canada (NYSE:RY) dipped -1.18% to close Friday’s market session at $100.85, lower as compared to yesterday’s close which brings the market valuation of the company to $143.72B.
The 52-week high for the Royal Bank of Canada’s shares is $104.92. That puts it -3.88% from that peak but still a 47.71% gain since the share price dropped to a 52-week low of $67.78, while the S&P 500’s share price change was of 35.10%.
The company currently has a 12.83 P/E ratio and a price target of $88.28.
What does the trading volume tell us about the RY stock?
During the last trading session, Royal Bank of Canada (NYSE:RY) has seen decay in its daily volume. The daily volume was of 1M, while in the last 10 days the average was 1.38M and last three months – 1.08M.
The decreasing interest in the RY stock from the investors is helping to drive the stock price down.
Shrinking short interest
The Royal Bank of Canada’s shares are seeing a decreasing short interest compared to the previous month. As of today, there are 4.76M shares being shorted which translates into 5.32 of a short ratio for RY, while in the previous month the shorted shares were 5M.
Royal Bank of Canada (NYSE:RY) financials
With a market cap of 143.72B, Royal Bank of Canada holds a total cash of $656.37B that translates into $460.58 per share, while the total debt is of $358.47B.
The company has seen an increase in the revenue with a year-over-year quarterly revenue growth percentage of 56.10%. The current revenue is of $47.46B that is $33.34 per share.
This is a great sign for a bright future.