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TD Cowen analysts upgrades a Buy rating for Planet Fitness Inc (PLNT)

In a filing, Planet Fitness Inc revealed its SVP, Chief Accounting Officer O’Donnell Brian unloaded Company’s shares for reported $0.5 million on Aug 07 ’24. In the deal valued at $77.39 per share,6,424 shares were sold. As a result of this transaction, O’Donnell Brian now holds 6,778 shares worth roughly $0.53 million.

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Then, BENSON CRAIG R bought 10,000 shares, generating $681,464 in total proceeds. Upon buying the shares at $68.15, the Interim CEO now owns 35,000 shares.

Before that, Rondeau Christopher sold 1,000,000 shares. Planet Fitness Inc shares valued at $66,550,000 were divested by the Director at a price of $66.55 per share. As a result of the transaction, Rondeau Christopher now holds 0 shares, worth roughly $0.0.

TD Cowen upgraded its Planet Fitness Inc [PLNT] rating to a Buy from a a Hold in a research note published on June 24, 2024; the price target was increased to $92 from $66. A number of analysts have revised their coverage, including Jefferies’s analysts, who increased its forecast for the stock in early June from “a Hold” to “a Buy”. Stifel also remained covering PLNT and has decreased its forecast on May 10, 2024 with a “Hold” recommendation from previously “Buy” rating. Exane BNP Paribas revised its rating on October 16, 2023. It rated PLNT as “a Neutral” which previously was an “an Underperform”.

Price Performance Review of PLNT

On Monday, Planet Fitness Inc [NYSE:PLNT] saw its stock fall -0.48% to $78.66. Over the last five days, the stock has gained 9.23%. Planet Fitness Inc shares have risen nearly 7.75% since the year began. Nevertheless, the stocks have risen 28.13% over the past one year. While a 52-week high of $79.53 was reached on 08/09/24, a 52-week low of $44.13 was recorded on 03/20/24. SMA at 50 days reached $73.13, while 200 days put it at $67.11.

Levels Of Support And Resistance For PLNT Stock

The 24-hour chart illustrates a support level at 78.27, which if violated will result in even more drops to 77.88. On the upside, there is a resistance level at 79.28. A further resistance level may holdings at 79.90. The Relative Strength Index (RSI) on the 14-day chart is 65.66, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 3.50, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 8.07%. Stochastics%K at 93.03% indicates the stock is a selling.

How much short interest is there in Planet Fitness Inc?

A steep rise in short interest was recorded in Planet Fitness Inc stocks on , dropping by -1.57 million shares to a total of 5.04 million shares. Yahoo Finance data shows the prior-month short interest on 2024-06-28 was 6.61 million shares. There was a decline of -31.13%, which implies that there is a negative sentiment for the stock.

The most recent change occurred on September 27, 2023 when Morgan Stanley began covering the stock and recommended ‘”an Overweight”‘ rating along with a $62 price target.

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