Planet Labs PBC (NYSE:PL) closed Tuesday at $5.73 per share, up from $5.41 a day earlier. While Planet Labs PBC has overperformed by 5.91%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, PL fell by -42.12%, with highs and lows ranging from $12.15 to $3.70, whereas the simple moving average fell by -10.54% in the last 200 days.
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On June 15, 2022, Needham Reiterated Planet Labs PBC (NYSE: PL) to Buy. A report published by Needham on January 27, 2022, Initiated its previous ‘Buy’ rating for PL. Goldman also rated PL shares as ‘Buy’, setting a target price of $11 on the company’s shares in an initiating report dated January 12, 2022. Wedbush Initiated an Outperform rating on January 07, 2022, and assigned a price target of $10. Piper Sandler initiated its ‘Overweight’ rating for PL, as published in its report on January 07, 2022.
Analysis of Planet Labs PBC (PL)
Further, the quarter-over-quarter decrease in sales is -51.60%, showing a negative trend in the upcoming months.
There are several well-rounded types of analysis and research techniques that can be used to gain a clear view of Planet Labs PBC’s future performance, with equity being one of the most critical indicators. Taking into account the quick ratio of the company, currently set at 4.10, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
As an indicator of volatility for any stock, average volume can also be very valuable, and PL is recording an average volume of 3.11M. On a monthly basis, the volatility of the stock is set at 6.37%, whereas on a weekly basis, it is put at 6.50%, with a gain of 14.14% over the past seven days. Furthermore, long-term investors anticipate a median target price of $10.00, showing growth from the present price of $5.73, which can serve as yet another indication of whether PL is worth investing in or should be passed over.
How Do You Analyze Planet Labs PBC Shares?
Apart from looking at the fundamentals, you should also pay attention to the number of company employees who own shares. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 0.50%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 32.20% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in PL shares?
The recent increase in stakes in PL appears to be a result of several institutional investors and hedge funds increasing their positions. Canada Pension Plan Investment Bo’s position in PL has decreased by 0.00% in the first quarter. The company now owns 7,800,000 shares of the stock, with a value of $33.77 million, following the sale of 0 additional shares during the last quarter. Koch Industries, Inc. made another decreased to its shares in PL during the first quarter, downing its stake by 0.00%.
PL shares are owned by institutional investors to the tune of 32.20% at present.
