Fitbit (FIT) Sets New 52-Week High and Low at $4.55

Fitbit Inc (NYSE:FIT) shares reached a new 52-week high and low on Monday . The company traded as low as $4.55 and last traded at $4.65, with a volume of 10107310 shares changing hands. The stock had previously closed at $5.10.

A number of research firms recently weighed in on FIT. Craig Hallum began coverage on shares of Fitbit in a research note on Monday, March 19th. They issued a “buy” rating for the company. ValuEngine lowered shares of Fitbit from a “sell” rating to a “strong sell” rating in a research note on Wednesday, March 7th. Morgan Stanley set a $6.00 price objective on shares of Fitbit and gave the company a “hold” rating in a research note on Friday, January 5th. Zacks Investment Research lowered shares of Fitbit from a “hold” rating to a “sell” rating in a research note on Tuesday, February 27th. Finally, Wedbush reiterated a “neutral” rating and issued a $6.00 price objective (down from $6.50) on shares of Fitbit in a research note on Tuesday, February 27th. Five analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $6.78.

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The firm has a market cap of $1,061.86, a P/E ratio of -7.01 and a beta of 1.90.

Fitbit (NYSE:FIT) last announced its quarterly earnings results on Monday, February 26th. The scientific and technical instruments company reported ($0.12) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by ($0.06). Fitbit had a negative net margin of 17.16% and a negative return on equity of 17.11%. The firm had revenue of $570.76 million during the quarter, compared to the consensus estimate of $587.03 million. equities research analysts predict that Fitbit Inc will post -0.55 EPS for the current fiscal year.

In other news, Director Jon Callaghan sold 15,000 shares of Fitbit stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $5.91, for a total transaction of $88,650.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Andy Missan sold 5,000 shares of Fitbit stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $5.17, for a total transaction of $25,850.00. Following the sale, the executive vice president now directly owns 125,127 shares of the company’s stock, valued at $646,906.59. The disclosure for this sale can be found here. Insiders have sold a total of 60,000 shares of company stock valued at $316,750 over the last ninety days. 29.10% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Investors Research Corp bought a new stake in Fitbit in the fourth quarter worth $101,000. BB&T Securities LLC bought a new stake in Fitbit in the third quarter worth $116,000. Greenwich Wealth Management LLC lifted its stake in Fitbit by 84.1% in the fourth quarter. Greenwich Wealth Management LLC now owns 23,425 shares of the scientific and technical instruments company’s stock worth $134,000 after purchasing an additional 10,700 shares during the last quarter. Stone Ridge Asset Management LLC bought a new stake in Fitbit in the fourth quarter worth $139,000. Finally, Ingalls & Snyder LLC bought a new stake in Fitbit in the fourth quarter worth $140,000. 61.49% of the stock is owned by institutional investors.

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About Fitbit

Fitbit, Inc is a provider of health and fitness devices. The Company’s platform combines connected health and fitness devices with software and services, including an online dashboard and mobile applications, data analytics, motivational and social tools, personalized insights and virtual coaching through customized fitness plans and interactive workouts.

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