During the last session, 116M of Palantir Technologies Inc.’s (NYSE:PLTR) shares were traded. The stock closed at $24.25 per share indicating that it lost -$2.5 or -9.35% during that day which brings Palantir Technologies Inc.’s valuation to $47B.
The 52-week high for the Palantir Technologies Inc.’s shares is $45.00. That puts it -46.11% from that peak but still a great gain since the share price dropped to a 52-week low of $13.18, while the S&P 500’s share price change was of 31%.
The company currently has a price target of $24.04.
What does the trading volume tell us about the PLTR stock?
During the last trading session, Palantir Technologies Inc. (NYSE:PLTR) has seen growth in its daily volume. The daily volume was of 48M, while in the last 10 days the average was 29.11M and last three months – 47.66M.
The increasing interest in the PLTR stock from the investors is helping to drive the stock price up.
Shrinking short interest
The Palantir Technologies Inc.’s shares are seeing a decreasing short interest compared to the previous month. As of today, there are 54.49M shares being shorted which translates into 1.15 of a short ratio for PLTR, while in the previous month the shorted shares were 56.35M.
Palantir Technologies Inc. (NYSE:PLTR)’s financials
With a market cap of $47B, 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.