The SOFI stock price fluctuated between $18.49 and $19.31 throughout the trading session with the volume trading being 31M shares, which represented a positive variation when compared to the three months average volume of 22M shares.
The share price of SoFi Technologies, Inc. (NasdaqGS:SOFI) dipped -0.26% to close Thursday’s market session at $18.92, lower as compared to yesterday’s close which brings the market valuation of the company to $15B.
The 52-week high for the SoFi Technologies, Inc.’s shares is $28.26. That puts it -33.05% from that peak but still a N/A gain since the share price dropped to a 52-week low of $11.80, while the S&P 500’s share price change was of 29.3%.
The company currently has a price target of $24.5.
What does the trading volume tell us about the SOFI stock?
During the last trading session, SoFi Technologies, Inc. (NasdaqGS:SOFI) has seen decay in its daily volume. The daily volume was of 22M, while in the last 10 days the average was 27.27M and last three months – 22.31M.
The decreasing interest in the SOFI stock from the investors is helping to drive the stock price down.
Growing short interest
The SoFi Technologies, Inc.’s shares are seeing an increasing short interest compared to the previous month. As of today, there are 24.5M shares being shorted which translates into 1.26 of a short ratio for SOFI, while in the previous month the shorted shares were 15.89M.
SoFi Technologies, Inc.’s (NasdaqGS:SOFI) financials
With a market cap of $15B , SoFi Technologies, Inc. holds a total cash of $461.92M that translates into $0.58 per share, while the total debt is of $2.57B.
The company has seen an increase in the revenue with a year-over-year quarterly revenue growth percentage of 100.80%. The current revenue is of $799.05M that is $6.26 per share.
This is a great sign for a bright future.