Taking a Fresh Look at Fitbit, Inc. (FIT)

Fitbit, Inc. (FIT) is an interesting player in the Technology space, with a focus on Scientific & Technical Instruments. The stock has been active on the tape, currently trading at $5.20, down from yesterday’s close by -1.14%. Given the stock’s recent action, it seemed like a good time to take a closer look at the company’s recent data.

Fundamental Analysis

Fitbit, Inc. (FIT) currently trades with a market capitalization of $1.29 Billion. That value represents a market adjusting for revenues that have been falling by -17.09 % on a quarterly year/year basis as of the company’s last quarterly report.

You can get a sense of how sustainable that is by a levered free cash flow of -$48.36 Million over the past twelve months. Generally speaking, earnings are expected to grow in coming quarters. Analysts are forecasting earnings of -$0.11 on a per share basis this quarter. Perhaps, that suggests something about why 0.17% of the outstanding share supply is held by institutional investors.

Technical Analysis

No analysis is ever complete without a thorough survey of a stock’s technical behavior. Looking at the stock’s movement on the chart, Fitbit, Inc. recorded a 52-week high of $7.32. It is now trading 2.12% off that level. The stock is trading $5.15 its 50-day moving average by -0.05%. The stock carved out a 52-week low down at $4.51.

In recent action, Fitbit, Inc. (FIT) has made a move of -1.52% over the past month, which has come on weak relative transaction volume. Over the trailing year, the stock is underperforming the S&P 500 by 14.61, and it’s gotten there by action that has been less volatile on a day-to-day basis than most other stocks on the exchange. In terms of the mechanics underlying that movement, traders will want to note that the stock is trading on a float of 18.83% with $190.58 Million sitting short, betting on future declines. That suggests something of the likelihood of a short squeeze in shares of FIT.

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