Planet Labs PBC (NYSE:PL) shares, rose in value, with the stock price down by -3.40% to the previous day’s close as strong demand from buyers drove the stock to $2.27.
Actively observing the price movement in the recent trading, the stock is buoying the session at $2.35, falling within a range of $2.243 and $2.38. The value of beta (5-year monthly) is 0.976. Referring to stock’s 52-week performance, its high was $2.89, and the low was $1.67. On the whole, PL has fluctuated by 1.34% over the past month.
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With the market capitalization of Planet Labs PBC currently standing at about $666.19 million, investors are eagerly awaiting this quarter’s results, scheduled for on 2024-Dec-05.
Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 251.69M, with a low estimate of 62.31M and a high estimate of 64.24M. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 63.12M.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that PL’s technical picture suggests that short-term indicators denote the stock is a 50% Buy on average. However, medium-term indicators have put the stock in the category of 50% Buy while long-term indicators on average have been pointing out that it is a 100% Buy.
The stock’s technical analysis shows that the price of PL currently trading nearly -0.15% and 0.15% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 49.76, while the 7-day volatility ratio is showing 4.16% which for the 30-day chart, stands at 4.36%. Furthermore, Planet Labs PBC (PL)’s beta value is 0.98, and its average true range (ATR) is 0.11.
A comparison of Planet Labs PBC (PL) with its peers suggests the former has fared considerably weaker in the market. PL showed an intraday change of -3.40% in today’s session so far, and over the past year, it grew by 5.09%%.
Data on historical trading for Planet Labs PBC (NYSE:PL) indicates that the trading volumes over the past 10 days have averaged 1.39 and over the past 3 months, they’ve averaged 2.39 million. According to company’s latest data on outstanding shares, there are 268.12 million shares outstanding.
Nearly 33.23% of Planet Labs PBC’s shares belong to company insiders and institutional investors own 25.72% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 6.37 million shares as on 2024-10-15, resulting in a short ratio of 3.03. According to the data, the short interest in Planet Labs PBC (PL) stood at 268.00 of shares outstanding as of 2024-10-15; the number of short shares registered in 2024-09-13 reached 6.6 million. The stock has fallen by -8.10% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the PL stock heading into the next quarter.
