Cerner Corp, Bright Health Group Inc., UroGen Pharma Ltd. and others reached higher-than-usual trading volumes.
Here's an update with information from the last trading session: Markets completed a mixed session yesterday, as Nasdaq shed 1.1% and closed at 10,426. After dropping 0.65%, S&P 500 closed at 3,589.
Why Trading Volume Matters
Trading volume is simply the total number of shares traded including both buy and sell orders. If a stock has appreciated on high volume, it is more likely to be a sustained move compared to an appreciation with low volume. Typically, high volume trading sessions are considered significant occurrences and closely watched by traders.
While trading was mostly sideways yesterday, several health care stocks were actively traded. Here's an update:
Cerner | 777% above rolling average Cerner closed at $94.92 after a flat day yesterday, continuing its recent sideways trend
Cerner Corp outpaced its average daily trading volume (4.92 million) with 38.20 million shares traded yesterday. More of the same: on a back of a month of trading sideways, pointing in a similar direction, yesterday's session was more of the same — Cerner moves 0% to close at $94.92 yesterday.
Having set a significant low of $69.89 11 months ago, the healthcare information technology supplier is trading 35.81% higher. So far in 2022 it has been beating the Nasdaq by 53.53%. Cerner is currently trading with a market cap of $27.74 billion with an average daily volume of 4.92 million shares. Cerner is forecasted to generate revenues of $1.47 billion and EPS of 87.15 cents.
Bright Health | 394% higher than rolling average Bright Health levels up 28.57% in yesterday's session; traders eye opening bell in 3 hours time
Bright Health outpaced its average daily trading volume (2.58 million) with 10.18 million shares traded yesterday. Bright Health ended Monday at 91 cents. yesterday it went up to $1.23 only to drop back, yet still managed to close at $1.17.
UroGen Pharma | 480% above rolling average UroGen Pharma closes at $10.77, increasing by 12 cents and adding one more to its seven straight day of gains
UroGen Pharma outpaced its average daily trading volume (59,225) with 284,260 shares traded yesterday. UroGen Pharma is on a 9 day bullish run gaining $2.43 (31.02%). yesterday's session pointed in the same direction — generally flat but with a slight bullish bias, UroGen Pharma ranged between $10.37 and $10.77 before closing higher at $10.77.
Having set a significant high of $19.13 4 months ago, UroGen Pharma is trading 108% lower. The company has a market cap of $244.92 million with an average daily trading volume of 59,225 shares. UroGen Pharma's last revenue report was $16.6 million with an EPS of $-1.18.
— Average trading volume refers to a 21-day rolling average.