The share price of Planet Labs PBC (NYSE:PL) fell to $4.24 per share on Thursday from $4.35. While Planet Labs PBC has underperformed by -2.53%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, PL fell by -15.54%, with highs and lows ranging from $7.51 to $3.29, whereas the simple moving average fell by -13.21% in the last 200 days.
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Analysis of Planet Labs PBC (PL)
Further, the quarter-over-quarter increase in sales is 42.90%, showing a positive trend in the upcoming months.
To gain a thorough understanding of Planet Labs PBC’s future performance, several well-rounded types of analysis and research techniques can be used, with equity being among the most crucial. The goal here is to ensure that your current return on equity of -26.80% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 3.90, 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.
It is also very valuable to look at average volume as an indicator of volatility for a stock, and PL is recording an average volume of 1.80M. On a monthly basis, the volatility of the stock is set at 4.03%, whereas on a weekly basis, it is put at 4.33%, with a loss of -0.24% over the past seven days. Furthermore, long-term investors anticipate a median target price of $7.68, showing growth from the present price of $4.24, 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?
The number of employees owning shares of the company should also be considered in addition to the fundamentals. 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 0.60%. 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 57.00% 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. The Vanguard Group, Inc.’s position in PL has increased by 2.49% in the first quarter. The company now owns 17,327,822 shares of the stock, with a value of $70.7 million, following the purchase of 421,521 additional shares during the last quarter. BlackRock Fund Advisors made another increased to its shares in PL during the first quarter, upping its stake by 18.27%.
At the end of the first quarter, Geode Capital Management LLC increased its PL holdings by 15.74% and now holds 3.46 million PL shares valued at $14.11 million with the added 0.47 million shares during the period. PL shares are owned by institutional investors to the tune of 57.00% at present.
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