Planet Fitness, Inc. (PLNT): Clutching At Straws?

The stock of Planet Fitness, Inc. (NYSE:PLNT) has been Downgraded to Hold from Buy by Berenberg in its latest research note that was published on September 03. Imperial Capital analysts again handed out a In-line rating to PLNT stock but they lifted target price for the shares in a flash note to investors on August 09. The price target has been raised from $55 to $72.50.

Planet Fitness, Inc., which has current market capitalization of above $6 Billion, published its last quarter earnings on June 30, 2019.

PLNT surged by $1.12 during the normal trading session on Thursday and reaching a high of $64.94 during the day while it closed the day at $64.23. The Planet stock had a low trading volume of 0.99 million shares on that day, which is low compared to the average daily volume of 1.55M shares. PLNT has also lost 1.41% of its value over the past 7 days. However, the stock has declined by 19.28% in the 3 months of the year. Over the past six months meanwhile, it has lost 5.22% while it has added 19.79% year-on date. Let us now take a look at the stock’s potential support and resistance levels. The publicly traded company was seen to have slipped by -21.58% from its 3 months high price. However, taking another look at PLNT will indicate that it is trading +3.06% away from its 90-day low. Looking at the bigger picture, the Planet Fitness, Inc. stock has dropped by -21.58% from its 52-week high while it has surged by +42.83% from its 52-week low price.

On March 13, 2019 Rondeau Christopher, CEO sold 348810 shares of the company. The average price for that transaction was $66.29 per share, which meant that Rondeau Christopher earned $23122615 selling the stocks. The sale was made public, with the document of the transaction filed with the SEC. Another insider trading occurred, with CEO, Rondeau Christopher selling 40000 shares of this stock on March 13, 2019. The average selling price for the stock was $67.21 per share, with the sold stock accruing $2688400. Following this transaction, the CEO Rondeau Christopher now holds 0 shares of the company, which is worth around $0.

Planet has around 361 Billion cash on their books at the moment. This figure will have to be compared and looked into, with their current liabilities standing at $125 Billion. The Planet stock is bringing in revenue of over 12 months, which is roughly 127 Billion. Despite all that, Planet Fitness, Inc. is seeing things progressing very much as their y-o-y quarterly revenue surged by 22.60%.

Looking at the stock’s Technical analysis information over the past 50 days shows that its Raw Stochastic average stood at 10.93%. This figure is worse than the company’s 20-day Raw Stochastic average which currently stands at 16.9%. Over the past 20 days, Planet’s Stochastic %K stood at 16.02% while its Stochastic %D was revealed to be 12.27%.