Pattern Group (NASDAQ:PTRN) Hits New 52-Week Low – Here’s What Happened

Pattern Group Inc. (NASDAQ:PTRN) shares hit a new 52-week low during trading on Wednesday . The company traded as low as $10.92 and last traded at $10.96, with a volume of 295980 shares traded. The stock had previously closed at $12.02.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on PTRN shares. William Blair assumed coverage on Pattern Group in a research report on Tuesday, October 14th. They issued an “outperform” rating for the company. Jefferies Financial Group set a $20.00 price target on shares of Pattern Group in a research note on Thursday, December 11th. Evercore set a $23.00 price objective on Pattern Group and gave the company an “outperform” rating in a research note on Thursday, November 6th. KeyCorp raised their price target on Pattern Group from $18.00 to $20.00 and gave the company an “overweight” rating in a report on Thursday, November 6th. Finally, The Goldman Sachs Group started coverage on shares of Pattern Group in a research report on Tuesday, October 14th. They set a “buy” rating and a $17.00 target price for the company. Ten equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $21.00.

Pattern Group Stock Performance

The firm has a market cap of $1.59 billion and a price-to-earnings ratio of -4.71. The stock’s 50-day simple moving average is $13.06.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC purchased a new stake in Pattern Group during the third quarter valued at approximately $168,000. Steadview Capital Management LLC bought a new position in shares of Pattern Group during the 3rd quarter valued at approximately $5,480,000. Teacher Retirement System of Texas bought a new position in shares of Pattern Group during the 3rd quarter valued at approximately $2,740,000. Copia Wealth Management purchased a new stake in Pattern Group during the 3rd quarter valued at $294,000. Finally, Federated Hermes Inc. bought a new stake in Pattern Group in the third quarter worth $247,000.

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.