Fitbit Inc. (NYSE:FIT)

Bank of America restated their underperform rating on shares of Fitbit (NYSE:FIT) in a report issued on Tuesday morning, The Fly reports. The firm now has a hold rating on the scientific and technical instruments company's stock.

Several other equities research analysts have also issued reports on FIT. Deutsche Bank maintained the stock with "Hold" rating in Thursday, August 3 report. Citigroup reaffirmed a sell rating and set a $4.50 price objective (down previously from $5.00) on shares of Fitbit in a research report on Tuesday. Morgan Stanley set a $5.00 price objective on shares of Fitbit and gave the stock a hold rating in a research report on Tuesday. Stifel Nicolaus maintained the shares of FIT in report on Thursday, August 6 with "Buy" rating. Five equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the stock.

The company's stock is now moving with a -ve distance from the 200 day SMA of approximately -18.08%, and has a solid year to date (YTD) performance of -16.29% which means that the stock is constantly adding to its value from the previous fiscal year end price.

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Fitbit, Inc. (NYSE:FIT)'s stock on Tuesday traded at beginning with a price of $ 4.80 and when day-trade ended the stock finally moved down -12.27% to reach at $4.86. The stock has a market capitalization of $1,138.23, a price-to-earnings ratio of -4.08 and a beta of 2.28. Citigroup downgraded the stock to "Sell" rating in Tuesday, January 31 report. While the Short-Term Technical Indicators for the stock on 7-Day Average Directional Indicator shows "Sell" signal. Following the completion of the transaction, the executive vice president now owns 109,475 shares of the company's stock, valued at approximately $745,524.75. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Jon Callaghan sold 15,000 shares of the firm's stock in a transaction on Friday, December 1st. As per Zacks simplified descending rating scale the ABR rank is displayed in the range of 1 to 5 where 1 represents Strong Buy and 5 a Strong Sell. The disclosure for this sale can be found here. Stock value has moved between $4.91 - 7.36 in last one year.

The company now has an insider ownership of 0.1 Percent and Institutional ownership of 67.9 Percent. The Manufacturers Life Insurance Company now owns 150,340 shares of the scientific and technical instruments company's stock valued at $858,000 after purchasing an additional 13,616 shares during the last quarter. Cowen & Co initiated Fitbit, Inc. The company has market cap of $1.14 billion. Investors Research Corp bought a new stake in shares of Fitbit during the fourth quarter valued at approximately $101,000. According to today's trading volume Fitbit ABOVE its 20-Day Avg. volume with the stock showing ABOVE Abnormal volume in the past 150 days. Allianz Asset Management GmbH increased its position in Fitbit by 11.7% in the fourth quarter.

The Stock had a 2.9 Consensus Analyst Recommendation 30 Days Ago, whereas 60 days ago and 90 days ago the analyst recommendations were 3 and 2.85 respectively. Finally, Ingalls & Snyder LLC acquired a new stake in shares of Fitbit in the fourth quarter valued at $140,000. Vanguard Group Inc. now owns 12,808,192 shares of the scientific and technical instruments company's stock worth $68,012,000 after buying an additional 1,567,672 shares during the last quarter.


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