Platinum [PL] moved down -6.02: Why It’s Important

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Platinum [NYSE: PL] loss -6.02% or -0.34 points to close at $5.31 with a heavy trading volume of 3824954 shares. The company report on January 4, 2022 that Planet To Present at the Needham Virtual Growth Conference on January 10th, 2022.

Planet Labs PBC (NYSE: PL), a leading provider of daily data and insights about Earth, today announced that Ashley Johnson, Chief Financial and Operating Officer of Planet, will present at the 24th Annual Needham Virtual Growth Conference on January 10th, 2022, at 2:00 p.m. Eastern Time.


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To access the live webcast, please use the following link: https://wsw.com/webcast/needham116/plla/2240282.

It opened the trading session at $5.72, the shares rose to $5.77 and dropped to $5.20, the range by which the price of stock traded the whole day. The daily chart for PL points out that the company has recorded -46.63% loss over the past six months. However, it is still 3.63% lower than its most recent low trading price.

If we look at the average trading volume of 2.73M shares, PL reached to a volume of 3824954 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Platinum [PL]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PL shares is $16.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on PL stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

The Average True Range (ATR) for Platinum is set at 0.73, with the Price to Sales ratio for PL stock in the period of the last 12 months amounting to 11.20. The Price to Book ratio for the last quarter was 0.78, with the Price to Cash per share for the same quarter was set at 0.00.

Trading performance analysis for PL stock

Platinum [PL] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -11.20. With this latest performance, PL shares dropped by -46.15% in over the last four-week period, additionally sinking by -46.63% over the last 6 months .

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for PL stock in for the last two-week period is set at 29.72, with the RSI for the last a single of trading hit 27.08, and the three-weeks RSI is set at 31.40 for Platinum [PL]. The present Moving Average for the last 50 days of trading for this stock 9.08, while it was recorded at 5.85 for the last single week of trading.

Platinum [PL]: A deeper dive into fundamental analysis

Platinum’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.10 and a Current Ratio set at 0.10.

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An analysis of insider ownership at Platinum [PL]

There are presently around $159 million, or 11.90% of PL stock, in the hands of institutional investors. The top three institutional holders of PL stocks are: WEISS ASSET MANAGEMENT LP with ownership of 2,420,802, which is approximately -0.745% of the company’s market cap and around 0.50% of the total institutional ownership; MILLENNIUM MANAGEMENT LLC, holding 2,206,102 shares of the stock with an approximate value of $12.46 million in PL stocks shares; and ARENA CAPITAL ADVISORS, LLC- CA, currently with $9.18 million in PL stock with ownership of nearly 277.907% of the company’s market capitalization.

56 institutional holders increased their position in Platinum [NYSE:PL] by around 13,809,153 shares. Additionally, 27 investors decreased positions by around 5,772,857 shares, while 8 investors held positions by with 8,584,584 shares. The mentioned changes placed institutional holdings at 28,166,594 shares, according to the latest SEC report filing. PL stock had 42 new institutional investments in for a total of 9,234,067 shares, while 14 institutional investors sold positions of 3,752,789 shares during the same period.