Fitbit Inc Just Recorded A Sigfniciant Bearish Options Activity

 Fitbit Inc Just Recorded A Sigfniciant Bearish Options Activity

In today’s session Fitbit Inc (FIT) recorded an unusually high (918) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the November, 2016 put, expecting serious FIT decrease. With 918 contracts traded and 127994 open interest for the Nov, 16 contract, it seems this is a quite bearish bet. The option with symbol: FIT161118P00014000 closed last at: $1.38 or 12.2% up. About 2.90M shares traded hands. Fitbit Inc (NYSE:FIT) has declined 1.04% since March 30, 2016 and is downtrending. It has underperformed by 4.06% the S&P500.

Analysts await Fitbit Inc (NYSE:FIT) to report earnings on November, 7. They expect $0.11 EPS, down 42.11% or $0.08 from last year’s $0.19 per share. FIT’s profit will be $23.98 million for 29.50 P/E if the $0.11 EPS becomes a reality. After $0.07 actual EPS reported by Fitbit Inc for the previous quarter, Wall Street now forecasts 57.14% EPS growth.

Fitbit Inc (NYSE:FIT) Ratings Coverage

Out of 22 analysts covering Fitbit (NYSE:FIT), 12 rate it a “Buy”, 1 “Sell”, while 9 “Hold”. This means 55% are positive. Fitbit has been the topic of 41 analyst reports since August 6, 2015 according to StockzIntelligence Inc. Leerink Swann maintained it with “Outperform” rating and $49.0 target price in Thursday, January 7 report. Oppenheimer initiated Fitbit Inc (NYSE:FIT) on Tuesday, February 2 with “Outperform” rating. On Thursday, January 21 the stock rating was maintained by Stifel Nicolaus with “Buy”. Cowen & Co maintained the shares of FIT in a report on Thursday, April 21 with “Market Perform” rating. The stock of Fitbit Inc (NYSE:FIT) earned “Outperform” rating by RBC Capital Markets on Monday, January 25. On Tuesday, September 15 the stock rating was initiated by Cleveland with “Neutral”. The firm has “Overweight” rating given on Monday, November 30 by Barclays Capital. The company was downgraded on Thursday, September 29 by Pacific Crest. Barid downgraded the shares of FIT in a report on Tuesday, February 23 to “Neutral” rating. Stifel Nicolaus maintained Fitbit Inc (NYSE:FIT) on Thursday, August 6 with “Buy” rating.

According to Zacks Investment Research, “Fitbit Inc. manufactures and markets wearable fitness-tracking devices. The Company’s product consists of Fitbit Zip, Fitbit One, Fitbit Flex, Fitbit Charge, Fitbit Charge HR, Fitbit Surge and Aria. It also offers accessories which include bands and clips, charging cables and Fitbit apparel. Fitbit Inc. is headquartered in San Francisco, California.”

Fitbit, Inc. is a provider of health and fitness devices. The company has a market cap of $2.83 billion. The Company’s 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 customized fitness plans and interactive workouts. It has a 26.27 P/E ratio. It offers various fitness devices, including Fitbit Zip, Fitbit One, Fitbit Flex, Fitbit Charge, Fitbit Blaze, Fitbit Charge HR, Fitbit Surge and Aria.

FIT Company Profile

Fitbit, Inc., incorporated on March 26, 2007, is a well-known provider of health and fitness devices. The Company’s 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 customized fitness plans and interactive workouts. The Company’s core platform includes over eight wearable connected health and fitness trackers. It offers various fitness devices, including Fitbit Zip, Fitbit One, Fitbit Flex, Fitbit Charge, Fitbit Blaze, Fitbit Charge HR, Fitbit Surge and Aria. The Company’s platform includes wearable connected health and fitness trackers, which are wrist and clippable devices that automatically track users daily steps, calories burned, distance traveled, and active minutes and display real-time feedback. The Company’s trackers also measure sleep duration and quality. The Company’s products track heart rate and global positioning system (GPS) information, such as speed, distance and exercise routes. In addition, it offers a wireless fidelity (Wi-Fi) connected scale that records weight, body fat and body mass index (BMI).

More notable recent Fitbit Inc (NYSE:FIT) news were published by: Seekingalpha.com which released: “Fitbit: Value After The Hype” on October 31, 2016, also Fool.com with their article: “Better Buy: Fitbit Inc vs. GoPro” published on October 25, 2016, Fool.com published: “Are Fitbit Inc’s Corporate Wellness Figures Misleading?” on October 11, 2016. More interesting news about Fitbit Inc (NYSE:FIT) were released by: Fool.com and their article: “Can Fitbit Inc. Bounce Back After Falling 50% in 2016?” published on October 03, 2016 as well as Investorplace.com‘s news article titled: “Fitbit Inc (FIT): Set Your Watch to Buy Fitbit Stock” with publication date: October 20, 2016.

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