The highest volumes for yesterday went to: Inspira Technologies Oxy B.H.N. Ltd., Bright Health Group Inc., Moderna Inc.
A recap of yesterday's session: Leading equity indices in the US declined as S&P 500 closed at 3,995.32, a 0.61% change. After dropping 0.76%, Nasdaq closed at 11,171.
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.
Though trading was down yesterday, some health care stocks reached high volumes. Here is an update.
Inspira Technologies Oxy | 885% above rolling average Inspira Technologies Oxy appreciates 29.52% with $1.4 as the high of the day
With 1.21 million shares traded yesterday, Inspira Technologies Oxy B.H.N. Ltd. beat its daily average by 885% to cap off a frenetic trading day. After ending Tuesday at $1.05, the specialty medical device company spiked to $1.4 and closed yesterday at $1.36 — gaining 29.52% overall.
Bright Health | 577% above rolling average Bearish Bright Health declines 17.35 cents (23.76%)
Bright Health outpaced its average daily trading volume (1.35 million) with 7.79 million shares traded yesterday. Over the last 3 days, Bright Health has fallen 36.08%. yesterday's session continued down the same path: after ending Tuesday at 73.02 cents, Bright Health dropped to 52.5 cents early in yesterday's session and closed at 55.67 cents. In total, it lost 23.76%.
Having set a significant high of $4 a day ago, the US health insurance company is trading 31.17% lower. So far in 2022, it has been under-performing the Nasdaq by 39.84%. The company has a market cap of $350.76 million with an average daily trading volume of 1.35 million shares. Bright Health last reported revenue of $1.63 billion with an EPS of -35 cents.
Moderna | 388% higher than rolling average Bullish mood lifts Moderna to session high of $217.25
With 21 million shares traded yesterday, Moderna beat its daily average by 388% to cap off a frenetic trading day. Moderna has posted further gains as part of a 3 day trend that has already seen the stock gain $32.41. yesterday continued on the same track for Moderna — Moderna rallied 5.78% and ended the session at $208.95.
The mRNA medicines company now trading 54.34% above its 3-month low of $117.13. So far in 2022 it has been beating the Nasdaq by 29.74%. The company's market cap is $80.27 billion with an average daily volume of 5.42 million shares. $3.36 billion was Moderna's last reported revenue with $2.53 being the current EPS.
— Average trading volume refers to a 21-day rolling average.