Planet Labs PBC (NYSE:PL – Get Rating) rose 5.9% on Thursday . The company traded as high as $4.84 and last traded at $4.83. Approximately 30,200 shares changed hands during mid-day trading, a decline of 99% from the average daily volume of 2,889,158 shares. The stock had previously closed at $4.56.
PL has been the topic of several research analyst reports. Craig Hallum lowered their price target on Planet Labs PBC from $15.00 to $10.00 in a research report on Wednesday. Benchmark lowered their price objective on Planet Labs PBC from $15.00 to $11.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, Needham & Company LLC cut their price target on shares of Planet Labs PBC from $10.50 to $8.00 and set a “buy” rating on the stock in a research report on Wednesday. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Planet Labs PBC has an average rating of “Buy” and a consensus target price of $10.00.
The company has a 50 day simple moving average of $5.24.
A number of large investors have recently made changes to their positions in the stock. Canada Pension Plan Investment Board purchased a new position in Planet Labs PBC in the 4th quarter worth $47,970,000. Goldman Sachs Group Inc. purchased a new stake in shares of Planet Labs PBC during the fourth quarter worth $35,414,000. BlackRock Inc. acquired a new position in shares of Planet Labs PBC during the first quarter worth $23,671,000. Data Collective II GP LLC acquired a new position in shares of Planet Labs PBC during the fourth quarter worth $22,877,000. Finally, Vanguard Group Inc. acquired a new position in Planet Labs PBC in the first quarter valued at $11,894,000. 43.33% of the stock is currently owned by institutional investors.
Planet Labs PBC Company Profile (NYSE:PL)
Planet Labs PBC designs, constructs, and launches constellations of satellites with the intent of providing high cadence geospatial data delivered to customers through an online platform worldwide. The company offers Open Geospatial Consortium, a cloud-native proprietary technology that performs critical processing and overall harmonizing of images for time series and data fusion and analysis; and space-based hardware and related software systems.
- Get a free copy of the StockNews.com research report on Planet Labs PBC (PL)
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