Pandora Media Inc (NYSE:P) near 52-week low, short interest down

Pandora Media Inc (NYSE:P) (TREND ANALYSIS) shares were traded with a significant increase in volume. The stock closed last trading session at $11.51, down by -3.84%, with a volume of 10,037,161 shares against an average volume for the last 3 months of 6,554,130.

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Pandora Media Inc (NYSE:P) stock is currently trading 49.07% below its 52-week-high, 1.14% above its 52-week-low. The 1-year stock price history is in the range of $11.38 – $22.6. Pandora Media Inc (P) has a price to book ratio of 4.89. P stock price has underperformed the S&P 500 by 38.1%. The Internet Content & Entertainment company is currently valued at $2.46 billion and its share price closed the last trading session at $11.51. The stock has a 50-day moving average of $18.89 and a 200-day moving average of $17.69.

Pandora Media Inc (P) current short interest stands at 27.52 million shares. It has decreased by 3% from the same period of last month. Around 14% of the company’s shares, which are float, are short sold. With a 10-days average volume of 15.78 million shares, the number of days required to cover the short positions stand at 1.8 days.

P reported last quarter earnings on October 22. The Internet Content & Entertainment company announced earnings per share of $-0.02 against a consensus Street estimate of $-0.04, beating the average estimate by $0.02. This corresponds to a flat EPS compared to the same quarter of the previous fiscal year.

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There are currently thirty-three analysts that cover Pandora Media Inc stock. Of those thirty-three, eighteen have a Buy rating, fourteen have a Hold rating and one has a Sell rating. On a consensus basis this yields to an Overweight rating. The consensus target price stands at $19.52.

A recent analyst activity consisted of Macquarie upgrading their Neutral rating to Outperform on October 26. On the date of report, the stock closed at $13.03.

Oppenheimer downgraded their Outperform rating to Perform on October 23. On the date of report, the stock closed at $12.39.

Another research firm was RBC Capital who downgraded their Outperform rating to Sector Perform on October 23. On the date of report, the stock closed at $12.39.

Company profile

Pandora Media Inc. provides radio services through the internet. The Company offers radio stations available to stream on computers and mobile phones. Pandora’s services allow users to search on their favorite artists, genres, and songs while Pandora selects “stations” that match or are similar to their search.

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