There Is Clear Momentum For Planet Labs PBC (NYSE: PL)

Putnam Investment Management LLC has recently announced that it has increased stake in Planet Labs PBC (NYSE:PL) by 3.15%. After grabbing 1.54 million shares, the institutional investor is now in possession of 46951.0 shares of the Industrials Company. The new investment brought the stake of investor firm to 0.58% having worth around $3.74 million. Moreover, Dimensional Fund Advisors LP increased its share by 0.57 million to have a control over 1.08 million shares.

Planet Labs PBC (PL) concluded trading on 12/28/23 at a closing price of $2.56, with 2.25 million shares of worth about $5.77 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -16.88% during that period and on Thursday the price saw a gain of about 7.11%. Currently the company’s common shares owned by public are about 250.63M shares, out of which, 167.32M shares are available for trading.

3 Tiny Stocks Primed to Explode The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.

We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.

Click here for full details and to join for free
Sponsored

Canada Pension Plan, Vanguard Total Stock Market ETF, and Vanguard Small Cap Index Fund are the top 3 mutual funds which are holding stakes in Planet Labs PBC Canada Pension Plan is currently holding 7.8 million shares of worth totaling $18.95 million. The company recently came buying 0.0 shares which brought its stake up to 2.95% of the company’s outstanding shares. Vanguard Small Cap Index Fund, after buying 4.93 million shares, have now control over 1.86% of the stake in the company. It holds 15176.0 shares of worth $11.97 million.

Planet Labs PBC (NYSE: PL) started trading at $2.38, below -$0.01 from concluding price of the previous day. However, the stock later moved at a day high price of 2.5700, or with a gain of 7.11%. Stock saw a price change of 8.94% in past 5 days and over the past one month there was a price change of 4.07%. Year-to-date (YTD), PL shares are showing a performance of -41.15% which decreased to -38.90% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $2.04 but also hit the highest price of $5.18 during that period. The average intraday trading volume for Planet Labs PBC shares is 1.52 million. The stock is currently trading 4.40% above its 20-day simple moving average (SMA20), while that difference is up 9.66% for SMA50 and it goes to -20.12% lower than SMA200.

Putnam Investment Management LLC acquired 1.54 million shares of Planet Labs PBC having value of about $3.74 million. Data submitted at the U.S SEC by Putnam Investment Management LLC revealed that the firm now holds 46951.0 shares in the company valued at close to $120194.56, or have control over 3.15% stake in the company. Planet Labs PBC (NYSE: PL) currently have 250.63M outstanding shares and institutions hold larger chunk of about 26.52% of that. Holding of mutual funds in the company is about 12.59% while other institutional holders and individual stake holders have control over 18.63% and 10.11% of the stake respectively.

The stock has a current market capitalization of $731.29M and its 3Y-monthly beta is at 0.75. It has posted earnings per share of -$0.54 in the same period. It has Quick Ratio of 2.94 while making debt-to-equity ratio of 0.05. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for PL, volatility over the week remained 5.71% while standing at 5.48% over the month.

Analysts are in expectations that Planet Labs PBC (PL) stock would likely to be making an EPS of -$0.06 in the current quarter, while forecast for next quarter EPS is -$0.06 and it is -$0.2 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.08 which is -$0.05 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.14 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 16.78% while it is estimated to increase by 20.62% in next year. EPS is likely to shrink at an annualized rate of 25.00% for next 5-years, compared to annual growth of 32.20% made by the stock over the past 5-years.

Analysts at 11 brokerage firms have issued recommendations for the Planet Labs PBC (PL)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.36. Out of those 11 Wall Street analysts, 9 recommended a “Buy” rating, while 2 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.

Most Popular

Related Posts