Pandora Media (P) : Pandora Media (P) had a healthy money flow of $1.3 million into the stock during the Wednesdays trading session. The value of bullish trades on upticks was $6.9 million, whereas, investors only sold shares worth $5.6 million on downticks. The stock closed the day with an up-down ratio of 1.23.The money flow in the block trades to the tune of $1.01 million shows that the bulls were dominant, the large players used the weakness in the stock to accumulate it for the long-term. $2.31 million worth of transactions were on upticks. A paltry $1.3 million worth of block trade transactions on downticks shows that the investors are reluctant to sell the stock down. The total up-down ratio of the upticks vs the downticks in block trades was 1.78. Pandora Media (P) stock slid $0.02 intraday and traded at 12.48, a change of -0.16% over previous days close. However, for the week, the company shares are -3.85% compared to previous weeks close.
Also, In the latest statement by the brokerage house, Piper Jaffray upgrades its outlook on Pandora Media (NYSE:P). The current rating of the shares is Overweight, according to the research report released by the firm. Previously, the company had a rating of Neutral. The rating by the firm was issued on July 13, 2016.
Pandora Media (NYSE:P): The stock opened at $12.50 on Wednesday but the bulls could not build on the opening and the stock topped out at $12.57 for the day. The stock traded down to $12.23 during the day, due to lack of any buying support eventually closed down at $12.35 with a loss of -1.20% for the day. The stock had closed at $12.50 on the previous day. The total traded volume was 8,145,762 shares.
The stock has recorded a 20-day Moving Average of 1.42% and the 50-Day Moving Average is 5.58%. In a related news, The Securities and Exchange Commission has divulged that Martin Christopher Douglas, officer (Chief Technology Officer) of Pandora Media, Inc., had unloaded 2,000 shares at an average price of $11.19 in a transaction dated on June 16, 2016. The total value of the transaction was worth $22,380.
Pandora Media, Inc. is a United States-based provider of Internet radio in the United States. The Company offers a personalized experience for each of its listeners wherever and whenever they want to listen to radio on a range of smartphones, tablets, computers and car audio systems, as well as a range of other Internet-connected devices. It allows local and national advertisers to deliver targeted messages to its listeners using a combination of audio, display and video advertisements. Its free service is advertising-based and allows listeners access to its music and comedy catalogs, and personalized playlist generating system for free across all of its delivery platforms. Pandora One is a paid subscription service without any advertising. Pandora One also offers listeners daily skips, audio on supported devices and timeout-free listening. The Companys technologies include Music Genome Project and Comedy Genome Project.