Large Outflow of Money Witnessed in Fitbit

Fitbit (FIT): The stock had negative money flow to the tune of ($1.15 million) on Wednesday, which shows that the traders are selling the stock on the price strength. The inflow of money on upticks was $7.27 million, whereas, the outflow of money on downticks was $8.41 million and the ratio between the two was 0.86. The block trade had a negative net money flow of ($0.33 million). The total block trade value undertaken on upticks was $0.72 million. On the other hand, downticks amounted to $0.39 million of the traded value, which shows distribution in the stock by traders. The ratio between uptick and downtick was 1.83. Fitbit (FIT) closed with marginal gains of 3 cents to end the day at $16.56, an increase of 0.18% over the previous days close. The stock recorded -2.47% for the week.

Fitbit

Shares of Fitbit Inc. rose by 2.64% in the last five trading days and 11.78% for the last 4 weeks. Fitbit Inc. is up 37.68% in the last 3-month period. Year-to-Date the stock performance stands at -43.56%.

Fitbit (FIT) : Zacks Investment Research ranks Fitbit (FIT) as 3, which is a Hold recommendation. 9 research analysts consider that the stocks fundamentals point to a bright future, hence they rate the stock as a Strong Buy. 2 other analysts are mildly bullish on the stock and favor a Buy. A total of 10 analysts believe that the stock has a limited upside, hence they advise a Hold. The average broker rating of 21 research analysts is 2.05, which indicates as a Buy.

Fitbit (NYSE:FIT): The stock opened at $16.58 and touched an intraday high of $16.785 on Wednesday. During the day, the stock corrected to an intraday low of $16.42, however, the bulls stepped in and pushed the price higher to close in the green at $16.7 with a gain of 1.03% for the day. The total traded volume for the day was 4,132,733. The stock had closed at $16.53 in the previous trading session.

Fitbit, Inc. (Fitbit) is a provider of health and fitness products. The Companys Fitbit 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 fitness plans and interactive workouts. It offers a number of fitness products, including Fitbit Zip, Fitbit One, Fitbit Flex, Fitbit Charge, Fitbit Charge HR, Fitbit Surge and Aria. Its wrist-based and clippable devices automatically track users daily steps, calories burned, distance traveled, floors climbed, and active minutes and display real-time feedback to encourage them to become more active in their daily lives. Fitbit Premium is its membership that serves as an around the clock virtual personal trainer delivered to users through any Web browser. It operates FitStar, a provider of interactive video-based exercise experiences on mobile devices and computers.

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