Palantir Technologies Inc. (NYSE:PLTR) with the stream of -1.99% in the last hour of Tuesday’s trading session.
Palantir Technologies Inc. (PLTR) had a good day on the market for Tuesday December 01 as shares declined -1.99% to close at $27.11. About 137,243,008 million shares traded hands on 62.80M trades for the day, compared with an average daily volume of 62.80M shares out of a total float of 1.06B. After opening the trading day at $28.24, shares of Palantir Technologies Inc. stayed within a range of $24.11 to $30.15.
With today’s loss, Palantir Technologies Inc. now has a market cap of $49.60B. Shares of Palantir Technologies Inc. have been trading within a range of $8.90 and $33.50 over the last year, and it had a 50-day SMA of $107.75% and a 200-day SMA of $107.75%.
Palantir Technologies Inc. posted its best week since it went public in September, adding about $17 billion in market value as a broad rally in tech stocks helped fuel gains in the software maker.
Its shares rose 52% since Monday and touched a fresh intraday record at $33.50. The stock lost some of the gains on Friday after Citron Research said in a tweet it was shorting the stock with a $20 target. The company ended the session at $27.66.
Palantir representatives didn’t respond to a request for comment.
“A lot of institutions have probably warmed up to the company and are viewing it as something to hold onto for the long term,” said Wayne Kaufman, chief market analyst at Phoenix Financial Services. “It’s a great software company, and it has a terrific business, a very sticky business, not just with governments but also enterprises.”
Trading in Palantir options also surged this week with average daily volume of call contracts jumping about 250% in the first three days of the week when compared to the prior week. An analysis of open interest shows most of the contracts being opened and closed in the same day, indicating a heavy presence of day traders.
After an initial lackluster performance following its direct-listing stock debut, gains for the Denver-based firm, which sells data-analysis tools, have accelerated after hedge funds, including Steve Cohen’s Point72 Asset Management, reported purchasing the company’s shares.
“Big-data companies have become very important and historically have been excellent stocks. Also, Palantir is benefiting from the pandemic — tracking cases and analyzing data is right in its wheelhouse,” Kaufman said.
Since starting up in 2003, co-founder and chairman Peter Thiel has helped bankroll the business throughout its long period as a closely held business. Now, the stock has gained nearly 300% since its direct listing. It reported third-quarter losses in its first financial results since going public as compensation costs surged. It did, however, boost its revenue growth forecast for the year to 44%, exceeding the amount analysts expected on average.
“I’d say the days of it trading below $20 are probably over,” Kaufman added.
The PEG ratio is used to determine a stock’s value while taking the company’s earnings growth into account, and is considered to provide a more complete picture than the P/E ratio. Last traded has a PEG ratio of N/A where as its P/E ratio was N/A. The overall volume in the last trading session was 137,243,008 shares.
Palantir Technologies Inc. has P/S value of 49.61 while its P/B esteem remains at 35.67. Likewise, the company has Return on Assets of N/A, Return on Equity of N/A and Return on Investment of 37.20%. The company demonstrates Gross Margin and Operating Margin of 65.40% and N/A respectively.
PLTR’s price to sales ratio for trailing twelve months was 49.61 and price to book ratio for most recent quarter was 35.67, whereas price to cash per share for the most recent quarter was 27.55. The Company’s price to free cash flow for trailing twelve months was recorded as N/A.
Historical Performances to Consider:
The Stock’s performances for Monthly, weekly, half-yearly, quarterly & year-to-date are mentioned below:-
On a Monthly basis the stock was 152.19%. On a weekly basis, the stock remained 49.37%. The half-yearly performance for the stock has N/A, while the quarterly performance was N/A. Looking further out we can see that the stock has moved 185.37% over the year to date. Other technical indicators are worth considering in assessing the prospects for EQT. RSI for instance was stand at 79.03.