NVIDIA Corporation (NVDA) is showing some more asks on L2 as it slides to new session low of $18.98. Seems buyers have dried up for the moment. Traders can watch the $18.68 area near term intra-day support. The next important intra-day support level for NVDA will be around the $18.13 level. Both support spots could see small bounces intra-day.
From a valuation perspective, NVIDIA shares trade at a 2.97x on a price to sales basis. The ticker has a trailing P/E of 44.16, a forward P/E of 14.84 and a P/E to Growth ratio of 1.07. The median Wall Street price target on the stock, whose market cap currently stands at $11.10 billion, is $23.00 with a high and low target of $40.00 and $9.00, respectively.
Short interest accounts for 4.5% of NVIDIA’s float, or 24.42 million shares.
At last check, NVDA was down $0.42, or 2.15%, to $19.13. Day’s range: $18.97 – $19.68 ; 52wk range: $8.65 – $26.17. Volume: 25 million shares traded as of 2:17 p.m. EST vs 29.4 million daily (3m) average.
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