Palantir (PLTR) Stock Is Set For a Breakout


During the last session 88M of Palantir Technologies Inc.’s (NYSE:PLTR) shares were traded. The stock closed at $26.55 per share indicating that it lost -$2.16 or -7.52% during that day which brings the Palantir Technologies Inc.’s valuation to $51.86B.

The 52-week high for the Palantir Technologies Inc.’s shares is $45.00. That puts it -41% from that peak but still a 202.21% gain since the share price dropped to a 52-week low of $8.90, while the S&P 500’s share price change was of 33.70%.

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

During the last trading session, Palantir Technologies Inc. (NYSE:PLTR) has seen decay in its daily volume. The daily volume was of 44M, while in the last 10 days the average was 83.71M and last three months – 44.49M.

The decreasing interest in the PLTR stock from the investors is helping to drive the stock price down.

Growing short interest

The Palantir Technologies Inc.’s shares are seeing an increasing short interest compared to the previous month. As of today, there are 61.41M shares being shorted which translates into 1.24 of a short ratio for PLTR, while in the previous month the shorted shares were 58.4M.

Palantir Technologies Inc. (NYSE:PLTR)’s financials

With a market cap of 51.86B, Palantir Technologies Inc. holds a total cash of $2.34B that translates into $1.2 per share, while the total debt is of $249.79M.

The company has seen an increase in the revenue with a year-over-year quarterly revenue growth percentage of 49.10%. The current revenue is of $1.33B that is $0.83 per share.

This is a great sign for a bright future.