1 time Within The Past Five Days, Planet Labs PBC (PL) Hit A New High

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Planet Labs PBC (NYSE:PL) finished Wednesday with a subtraction of -$0.04 to close at $6.06, a downside of -0.66 percent. An average of 5,430,100 shares of common stock have been traded in the last five days. There was a fall of -$1.04 in the past week, and it reached a new high 13 times over the past 12 months. The last 20 days have seen an average of 3,297,630 shares traded, while the 50-day average volume stands at 2,289,040.

PL stock has increased by 6.32% in the last month. The company shares reached their 1-month lowest point of $4.81 on 09/01/22. With the stock rallying to its 52-week high on 09/15/22, shares of the company touched a low of $3.70 and a high of $12.15 in 52 weeks. It has reached a new high 4 times so far this year and lost -1.46% or -$0.09 in price. In spite of this, the price is down -50.12% from the 52-week high.


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Financial Health

The quick ratio of Planet Labs PBC for the three months ended July 30 was 4.10, and the current ratio was 4.10, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.00 and a total debt to equity ratio of 0.00 for the quarter ending July 30. Its gross profit as reported stood at $48.22 million compared to revenue of $131.21 million.

Earnings Surprise

For the three-month period that ended July 30, Planet Labs PBC had $195.63 million in cash. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of -$39.53 million in the quarter, while revenues of -$44.36 million were grew 373.49%. The analyst consensus anticipated Planet Labs PBC’s latest quarter earnings to come in at -$0.16 per share, but it turned out to be -$0.15, a 6.30% surprise. For the quarter, EBITDA amounted to -$31.05 million. Shareholders own equity worth $269.88 million.

Technical Picture

From a technical analysis perspective, let’s take a brief look at Planet Labs PBC (PL) price momentum. RSI 9-day as of the close on 21 September was 50.26%, suggesting the stock is Neutral, with historical volatility in this time frame at 123.81%.

As of today, PL’s price is $6.51 -14.65% or -$1.04 from its 5-day moving average. PL is currently trading +8.02% higher than its 20-day SMA and +14.56% higher than its 100-day SMA. However, the stock’s current price level is +34.07% above the SMA50 and -35.87% below the SMA200.

The stochastic %K and %D were 54.34% and 62.44%, respectively, and the average true range (ATR) was 0.54. With the 14-day stochastic at 46.21% and the average true range at 0.48, the RSI (14) stands at 52.01%. The stock has reached -0.01 on the 9-day MACD Oscillator while the 14-day reading was at 0.39.

Analyst Ratings

Needham reiterated its a Buy rating on Planet Labs PBC (NYSE: PL), but raised their price target to $10.50, indicating a potential price increase of 42.29% for the stock.

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