shares of Palantir Technologies Inc. (NYSE:PLTR) reached at $36.23 price level during last trade its distance from 20 days simple moving average was 40.21%, and its distance from 50 days simple moving average was 48.68% while it has a distance of 88.83% from the 200 days simple moving average.
All eyes will be on Palantir Technologies (NYSE: PLTR) Tuesday as it demonstrates its proprietary software for the first time.
What Happened: On Jan. 21, Palantir issued an update to investors outlining the specifics of what it plans to release during its inaugural “Demo Day.”
On top of demonstrating how Gotham and Foundry, Palantir’s data platforms, work, the company said it will also demo other software from its modular strategy.
Why It Matters: Investors have yet to see demonstrations of Palantir’s software platforms and their applications.
At 4:30 p.m. Tuesday, Palantir will demonstrate examples of how its platforms Foundry and Gotham work, in addition to its applications for government agencies, manufacturers and commercial customers. Palantir will also show investors how its continuous delivery software Apollo powers Foundry and Gotham in any environment, even in places where other SaaS systems could never operate.
What’s Next: The COVID-19 pandemic made it evident the U.S. government needed to find ways to store and access big data quickly. Palantir was awarded a $1.5-billion contract by the Trump administration for the use of its software.
Palantir’s contract with the U.S. government was published in June 2020, followed three months later by Palantir going public on Sept. 30. Details of the contract and how the government is using Palantir’s software, however, have so far remained largely unknown.
The event tomorrow will give investors their first glimpse into Palantir’s technology and help to make clear how the U.S. government is using its software on mass scale.
PLTR Price Action: Shares of Palantir were down 0.89% at $32.29 at last check Monday.
The stock has a market cap of $50.33B with 1.65B shares outstanding, of which the float was 1.06B shares. Analysts consider this stock active, since it switched Trading volume reached 191,345,296 shares as compared to its average volume of 67.15M shares.
The Average Daily Trading Volume (ADTV) demonstrates trading activity related to the liquidity of the security. When Ave Volume tends to increase, it shows enhanced liquidity.
But when Ave Volume is lower, the security will tend to be cheap as people are not as keen to purchase it. Hence, it might have an effect on the worth of the security. PLTR’s relative volume was 2.97.
Relative volume is a great indicator to keep a close eye on, but like most indicators it works best in conjunction with other indicators and on different time frames. Higher relative volume you will have more liquidity in the stock which will tighten spreads and allow you to trade with more size without a ton of slippage.
Palantir Technologies Inc. has an average true range (ATR) of 2.74. Other technical indicators are worth considering in assessing the prospects for EQT. PLTR’s price to sales ratio for trailing twelve months was 50.33 and price to book ratio for most recent quarter was 47.67, whereas price to cash per share for the most recent quarter was 27.96.
The Company’s price to free cash flow for trailing twelve months was 0. Its quick ratio for most recent quarter was 2.50. Analysts mean recommendation for the stock was 3.30. This number is based on a 1 to 5 scale where 1 indicates a Strong Buy recommendation while 5 represents a Strong Sell.
Palantir Technologies Inc.‘s shares owned by insiders remained 8.70%, whereas shares owned by institutional owners are 12.80%.
Meanwhile, PLTR traded under umbrella of Technology sector, the stock was traded 8.15% ahead of its 52-week high and 307.08% beyond its 52-week low. So, both the price and 52-week high indicators would give you a clear-cut picture to evaluate the price direction.