Nvidia (NVDA) Stock Is Conquering New Highs

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The NVDA stock price fluctuated between $209.71 and $219.97 throughout the trading session with the volume trading being 55M shares, which represented a positive variation when compared to the three months average volume of 39M shares.

The share price of NVIDIA Corporation (NasdaqGS:NVDA) ran up 5.49% to close Monday’s market session at $219.58, higher as compared to yesterday’s close which brings the market valuation of the company to $547.19B.

The 52-week high for the NVIDIA Corporation’s shares is $219.97. That puts it -0.18% from that peak but still a 63.26% gain since the share price dropped to a 52-week low of $115.67, while the S&P 500’s share price change was of 28.98%.

The company currently has a 78.65 P/E ratio and a price target of $200.56.

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

During the last trading session, NVIDIA Corporation (NasdaqGS:NVDA) has seen growth in its daily volume. The daily volume was of 39M, while in the last 10 days the average was 42.86M and last three months – 39.38M.

The increasing interest in the NVDA stock from the investors is helping to drive the stock price up.

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Shrinking short interest

The NVIDIA Corporation’s shares are seeing a decreasing short interest compared to the previous month. As of today, there are 29.95M shares being shorted which translates into 0.81 of a short ratio for NVDA, while in the previous month the shorted shares were 32M.

NVIDIA Corporation’s (NasdaqGS:NVDA) financials

With a market cap of 547.19B, NVIDIA Corporation holds a total cash of $19.65B that translates into $7.86 per share, while the total debt is of $12.79B.

The company has seen an increase in the revenue with a year-over-year quarterly revenue growth percentage of 68.30%. The current revenue is of $21.9B that is $8.82 per share.

This is a great sign for a bright future.