Planet Labs PBC (NYSE:PL - Get Free Report) saw unusually large options trading on Thursday. Investors purchased 16,374 call options on the company. This represents an increase of approximately 310% compared to the average volume of 3,996 call options.
Planet Labs PBC Price Performance
Shares of Planet Labs PBC stock traded up $0.63 on Thursday, hitting $6.05. The stock had a trading volume of 14,478,218 shares, compared to its average volume of 4,585,024. Planet Labs PBC has a twelve month low of $1.73 and a twelve month high of $6.71. The business's 50 day moving average is $4.15 and its two-hundred day moving average is $4.29.
Planet Labs PBC (NYSE:PL - Get Free Report) last posted its quarterly earnings data on Wednesday, June 4th. The company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.01. The firm had revenue of $66.27 million for the quarter, compared to analysts' expectations of $62.25 million. Planet Labs PBC had a negative return on equity of 23.36% and a negative net margin of 42.58%. Equities research analysts expect that Planet Labs PBC will post -0.37 EPS for the current year.
Analysts Set New Price Targets
PL has been the topic of a number of recent analyst reports. Cantor Fitzgerald restated an "overweight" rating and set a $8.50 target price (up from $6.30) on shares of Planet Labs PBC in a report on Tuesday. Needham & Company LLC restated a "buy" rating and set a $8.00 price objective on shares of Planet Labs PBC in a research note on Thursday, June 5th. Wall Street Zen raised shares of Planet Labs PBC from a "sell" rating to a "hold" rating in a report on Friday, June 6th. Wedbush lifted their price target on Planet Labs PBC from $5.00 to $7.00 and gave the stock an "outperform" rating in a report on Thursday, June 5th. Finally, Citigroup boosted their price target on Planet Labs PBC from $5.00 to $7.00 and gave the stock a "buy" rating in a research report on Friday, June 6th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $6.60.
Check Out Our Latest Report on PL
Institutional Trading of Planet Labs PBC
A number of institutional investors have recently bought and sold shares of the business. Xponance Inc. increased its holdings in shares of Planet Labs PBC by 12.0% during the fourth quarter. Xponance Inc. now owns 14,959 shares of the company's stock worth $60,000 after purchasing an additional 1,608 shares during the period. Mackenzie Financial Corp increased its stake in Planet Labs PBC by 32.1% during the 1st quarter. Mackenzie Financial Corp now owns 13,364 shares of the company's stock worth $45,000 after acquiring an additional 3,245 shares during the period. Summit Investment Advisors Inc. raised its holdings in Planet Labs PBC by 19.9% in the 4th quarter. Summit Investment Advisors Inc. now owns 22,577 shares of the company's stock valued at $91,000 after acquiring an additional 3,753 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Planet Labs PBC by 4.9% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 122,655 shares of the company's stock valued at $496,000 after acquiring an additional 5,785 shares during the period. Finally, Sterling Capital Management LLC grew its holdings in shares of Planet Labs PBC by 790.6% during the 4th quarter. Sterling Capital Management LLC now owns 6,840 shares of the company's stock worth $28,000 after purchasing an additional 6,072 shares in the last quarter. Institutional investors own 41.71% of the company's stock.
About Planet Labs PBC
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Get Free Report)
Planet Labs PBC engages in the design, construction, and launch constellations of satellites with the intent of providing high cadence geospatial data delivered to customers through an online platform worldwide. The company's platform offers planet monitoring, basemap, tasking, apps, and application programming interfaces, as well as analytics and planetary variables.
Further Reading
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