Shares of Fitbit (FIT) Sees Large Outflow of Money

Fitbit (FIT) : The value of composite uptick trades was $21.35 million, whereas, the value of composite downtick trades was $26.99 million. The uptick to downtick ratio stood at 0.79 with a negative money flow of ($5.64) Million during Wednesdays trading session. The block trades money flow was negative ($1.06 million).The uptick to the downtick ratio of 1.75 in block trades signals that the large investors have utilized the rise in the stock to sell.The uptick transaction value stood at $2.46 million. The transaction of the trades on downticks amounted to $1.4 million, which confirms investors selling on the strength of price. Fitbit (FIT) gained 20 cents at $13.06, an increase of 1.52% over the previous days close.


Also, Wells Fargo initiates coverage on Fitbit (NYSE:FIT). The rating major has initiated the coverage with market perform rating on the shares. The rating by the firm was issued on July 12, 2016.

Fitbit (NYSE:FIT): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $13.00 and $12.63 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $13.07. The buying momentum continued till the end and the stock did not give up its gains. It closed at $12.98, notching a gain of 0.93% for the day. The total traded volume was 10,749,279 . The stock had closed at $12.86 on the previous day.

The stock has recorded a 20-day Moving Average of 0.53% and the 50-Day Moving Average is 4.22%. In a related news, The Securities and Exchange Commission has divulged that Missan Andy, officer (EVP, GC, & SECRETARY) of Fitbit Inc, had unloaded 10,000 shares at an average price of $12.35 in a transaction dated on July 6, 2016. The total value of the transaction was worth $123,500.

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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