The highest volumes for yesterday went to: Cerner Corp, Change Healthcare Inc., Abiomed.
Here's an update with information from the last trading session: Leading equity indices in the US rose as S&P 500 gained 5.54% and closed at 3,956.37. Dow Jones ended the session at 33,700 after a 3.7% gain.
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.
Price action was mostly bullish yesterday with some health care stocks recording abnormally high trading volumes. Here's a recap:
Cerner | 777% above rolling average Continuing its recent sideways trend, Cerner closed at $94.92 after a flat day yesterday
Trading volume peaked at 38.20 million shares yesterday, thereby obliterating the daily average of 4.92 million by 777%. With around a month of flat trade under its belt, 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 high of $94.97 11 months ago, the healthcare information technology supplier is trading 35.58% lower. So far in 2022 it has been beating the Nasdaq by 47.82%. Cerner has a market cap of $27.74 billion with an average daily trading volume of 4.92 million shares. Cerner has a forecast of $1.47 billion with an EPS of 87.15 cents.
Change Healthcare | 215% above rolling average Bullish phase under threat as Change Healthcare stays range-bound
With 28.98 million shares traded yesterday, Change Healthcare beat its daily average by 215% to cap off a frenetic trading day. While Change Healthcare is on a month bullish trend, yesterday's session put the brakes on the ongoing uptrend — Change Healthcare moves 0% to close at $27.49 yesterday.
Change Healthcare now trading 11.7% above its 3-month low of $19.1. Change Healthcare's market cap is currently $9 billion with an average daily volume of 13.47 million shares. Change Healthcare is forecasted to generate revenues of $839.65 million and EPS of 22 cents.
Abiomed | 212% higher than rolling average Muted session threatens to disturb Abiomed's ongoing uptrend
Abiomed outpaced its average daily trading volume (1.33 million) with 2.82 million shares traded yesterday. On a 9 day uptrend, yesterday's session put the brakes on the ongoing uptrend — a quiet day for Abiomed as it remained range-bound within a $372.51 – $377.31 range before closing at $372.78.
— Average trading volume refers to a 21-day rolling average.