Fitbit (FIT): Price Target and June Short Interest Disclosure

Fitbit (FIT) : Currently there are 16 street experts covering Fitbit (FIT) stock. The most bullish and bearish price target for the stock is $32 and $16 respectively for the short term. The average price target of all the analysts comes to $21.56. The estimated standard deviation from the target is $4.86.

Fitbit (FIT) stated gains of 11,890,734 shares or 35.1% in the short interest. The short interest registered from 33,853,734 on June 15,2016 to 45,744,468 on June 30,2016. In terms of floated shares, the shorted positions stood at 37.1%. The stock has been averaging 9,698,723 shares daily in trading and would need 5 days to cover the shorts. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 12th.

Also, Wedbush initiates coverage on Fitbit (NYSE:FIT) The brokerage firm has issued a Outperform rating on the shares. The Analysts at the ratings agency announces the price target to $18 per share. The rating by the firm was issued on June 9, 2016.


Fitbit (NYSE:FIT): stock turned positive on Thursday. Though the stock opened at $13.75, the bulls momentum made the stock top out at $13.91 level for the day. The stock recorded a low of $13.62 and closed the trading day at $13.77, in the green by 1.55%. The total traded volume for the day was 5,328,074. The stock had closed at $13.56 in the previous days trading.

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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