Pattern Group (NASDAQ:PTRN) Shares Cross Above Two Hundred Day Moving Average – Time to Sell?

Pattern Group Inc. (NASDAQ:PTRN)’s stock price passed above its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $17.56 and traded as high as $17.98. Pattern Group shares last traded at $17.68, with a volume of 1,643,520 shares trading hands.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. BMO Capital Markets reissued an “outperform” rating and set a $28.00 target price on shares of Pattern Group in a research note on Thursday, August 6th. Weiss Ratings raised shares of Pattern Group from a “sell (d)” rating to a “sell (d+)” rating in a research report on Tuesday, August 11th. Robert W. Baird set a $26.00 price target on Pattern Group in a report on Thursday, August 6th. Needham & Company LLC increased their price target on Pattern Group from $29.00 to $32.00 and gave the stock a “buy” rating in a report on Thursday. Finally, JPMorgan Chase & Co. lifted their price objective on Pattern Group from $27.00 to $29.00 and gave the stock an “overweight” rating in a research report on Thursday. Eight research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $27.89.

Pattern Group Trading Up 5.9%

The business has a fifty day simple moving average of $18.25 and a 200-day simple moving average of $17.60.

Pattern Group (NASDAQ:PTRN) last released its quarterly earnings data on Thursday, November 5th. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.02. Pattern Group had a negative net margin of 4.57% and a negative return on equity of 318.79%. The company had revenue of $885.85 million during the quarter. During the same quarter in the prior year, the firm earned ($2.19) EPS. The business’s revenue was up 38.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Pattern Group Inc. will post 0.64 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Pattern Group

Institutional investors have recently made changes to their positions in the stock. Readystate Asset Management LP grew its stake in Pattern Group by 363.9% in the second quarter. Readystate Asset Management LP now owns 212,964 shares of the company’s stock valued at $5,365,000 after acquiring an additional 167,053 shares during the period. Wasatch Advisors LP raised its position in shares of Pattern Group by 28.4% during the second quarter. Wasatch Advisors LP now owns 3,135,129 shares of the company’s stock worth $78,974,000 after purchasing an additional 692,735 shares during the period. Weiss Asset Management LP acquired a new position in shares of Pattern Group during the first quarter worth approximately $3,212,000. Bank of New York Mellon Corp bought a new position in shares of Pattern Group in the 2nd quarter worth $1,849,000. Finally, Sylebra Capital LLC bought a new position in shares of Pattern Group in the 1st quarter worth $1,971,000.

Pattern Group Company Profile

Pattern Group Inc (NASDAQ: PTRN) is an e-commerce technology and services company that helps brands grow and manage their online businesses. Its platform combines software, data, and operational services to support product distribution and sales across major digital marketplaces, retailer websites, and other e-commerce channels.

The company’s services include marketplace management, digital advertising, product content and catalog optimization, pricing and assortment strategy, fulfillment coordination, and analytics.