Fitbit (FIT) Getting Somewhat Positive Press Coverage, Study Shows

News articles about Fitbit (NYSE:FIT) have been trending somewhat positive this week, Accern Sentiment Analysis reports. The research group identifies negative and positive press coverage by analyzing more than twenty million blog and news sources. Accern ranks coverage of companies on a scale of -1 to 1, with scores closest to one being the most favorable. Fitbit earned a media sentiment score of 0.11 on Accern’s scale. Accern also assigned news headlines about the scientific and technical instruments company an impact score of 45.6988300490674 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the immediate future.

These are some of the news articles that may have impacted Accern’s scoring:

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Shares of NYSE FIT traded up $0.19 during midday trading on Thursday, hitting $5.10. The company’s stock had a trading volume of 4,907,315 shares, compared to its average volume of 5,980,156. The firm has a market capitalization of $1,016.05, a PE ratio of -4.29 and a beta of 2.14. Fitbit has a 1-year low of $4.67 and a 1-year high of $7.32.

Several equities research analysts have recently weighed in on the stock. Morgan Stanley set a $5.00 target price on shares of Fitbit and gave the stock a “hold” rating in a research report on Tuesday, February 27th. ValuEngine downgraded shares of Fitbit from a “sell” rating to a “strong sell” rating in a research report on Wednesday, March 7th. Zacks Investment Research downgraded shares of Fitbit from a “hold” rating to a “sell” rating in a research report on Tuesday, February 27th. Wedbush reissued a “neutral” rating and issued a $6.00 target price (down previously from $6.50) on shares of Fitbit in a research report on Tuesday, February 27th. Finally, Robert W. Baird reaffirmed a “hold” rating on shares of Fitbit in a report on Tuesday, February 27th. Five investment analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $6.85.

In other Fitbit news, Director Jon Callaghan sold 15,000 shares of the business’s stock in a transaction dated 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Andy Missan sold 5,000 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $5.17, for a total transaction of $25,850.00. Following the transaction, 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 three months. 29.10% of the stock is currently owned by company insiders.

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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.

Insider Buying and Selling by Quarter for Fitbit (NYSE:FIT)

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