Pattern Group (NASDAQ:PTRN) Reaches New 1-Year Low – Time to Sell?

Shares of Pattern Group Inc. (NASDAQ:PTRN) reached a new 52-week low on Wednesday . The company traded as low as $8.92 and last traded at $9.59, with a volume of 1262245 shares. The stock had previously closed at $9.62.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on PTRN shares. Evercore set a $23.00 price objective on Pattern Group and gave the company an “outperform” rating in a research report on Thursday, November 6th. Jefferies Financial Group set a $20.00 price objective on shares of Pattern Group in a report on Thursday, December 11th. Weiss Ratings reissued a “sell (d)” rating on shares of Pattern Group in a research note on Wednesday, December 24th. BMO Capital Markets raised their price target on shares of Pattern Group from $19.00 to $22.00 and gave the stock an “outperform” rating in a research note on Thursday, November 6th. Finally, Stifel Nicolaus set a $22.00 price objective on Pattern Group in a research note on Thursday, November 6th. Ten analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Pattern Group currently has an average rating of “Moderate Buy” and a consensus target price of $21.00.

Pattern Group Stock Performance

The firm has a fifty day moving average of $12.56. The stock has a market capitalization of $1.48 billion and a P/E ratio of -4.38.

Institutional Trading of Pattern Group

Large investors have recently made changes to their positions in the business. Clearstead Advisors LLC increased its stake in shares of Pattern Group by 222.0% in the fourth quarter. Clearstead Advisors LLC now owns 2,373 shares of the company’s stock valued at $27,000 after buying an additional 1,636 shares in the last quarter. Federation des caisses Desjardins du Quebec acquired a new position in Pattern Group during the 4th quarter worth about $58,000. PNC Financial Services Group Inc. bought a new stake in Pattern Group during the 3rd quarter worth about $89,000. FNY Investment Advisers LLC acquired a new stake in Pattern Group in the 3rd quarter valued at about $137,000. Finally, Susquehanna International Group LLP acquired a new stake in Pattern Group in the 3rd quarter valued at about $137,000.

Pattern Group Company Profile

At Pattern, we are on a mission to help brands accelerate profitable growth on global ecommerce marketplaces. Today, our proprietary technology and on-demand experts operate across more than 60 marketplaces to increase product sales to consumers in more than 100 countries. Utilizing more than 46 trillion data points and sophisticated machine learning and artificial intelligence (“AI”) models, we strive to optimize and automate key levers of ecommerce growth, including advertising, content creation and management, pricing, forecasting and customer service.