Why Are Planet Labs Shares Surging On Thursday?

Benzinga02-20

Planet Labs PBC (NYSE:PL) shares are trading higher on Thursday, building on Wednesday’s surge as a combination of institutional ownership disclosure, sector tailwinds, and technical momentum keeps ...

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The Communication Services sector — PL’s home — is up 58 basis points on the day, while the S&P 500 is down 19 basis points. Over the past 30 days, the sector has gained 1.56% and 2.98% over 90 days.Planet Labs has surged 323.71% over the past year. 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The Communication Services sector — PL’s home — is up 58 basis points on the day, while the S&P 500 is down 19 basis points. Over the past 30 days, the sector has gained 1.56% and 2.98% over 90 days.\nPlanet Labs has surged 323.71% over the past year. The stock currently trades 1% below its 20-day Simple Moving Average (SMA) but remains 36.8% above its 100-day SMA and 101.4% above its 200-day SMA.\nShort interest rose modestly from 38.68 million to 38.95 million shares in the last reporting period, representing 13.78% of publicly available shares. Based on average daily volume of 15.14 million shares, short holders would need approximately 2.57 days to cover — a relatively tight squeeze window that could amplify moves in either direction.\nPlanet Labs is slated to provide its next financial update on March 19. With the earnings date approaching in more than two weeks, there’s a low urgency among investors, but anticipation is building around the company’s performance updates.\nAnalyst Consensus & Recent Actions: The stock carries a Buy Rating with an average price target of $13.06. Recent analyst moves include:\nPL Price Action: Planet Labs shares were up 0.42% at $23.84 at the time of publication on Thursday, according to Benzinga Pro data.\nPhoto: PJ McDonnell from Shutterstock\nThis content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.\nTo add Benzinga News as your preferred source on Google, click here.","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.36.2","shortVersion":"4.36.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2612284316","isCrawlerRequest":true}