New Planet Labs Price Target After SpaceX Satellite Launch
We’re moving price targets on three small-cap names amid technical developments.
You've reached your free article limit
You've read 0 of 1 free Pro articles.
The portfolio has to keep an eye on technical developments across the book, and this impacts both decisions on exposure as well as target prices.
Readers will see that Evolv Technologies (EVLV) has developed a yearlong falling-wedge pattern of bullish reversal that last week made contact with the lower trendline of the pattern. The upside pivot is currently the 50-day SMA at $5. This takes the portfolio’s target price down to $7.50 from $8.50.
Readers will see that Ocular Therapeutix (OCUL) has put in the second bottom of a double-bottom pattern of bullish reversal. The pivot for the pattern is up around $11.70. More realistically, we see the 50-day and 200-day SMAs that are running together as our pivot. Based on that setup, the portfolio is reducing its target price from $14 to $12.
We see another falling-wedge pattern when we look at a daily chart of Planet Labs (PL). This stock is also trying to rebound off of the lower trendline of the pattern. The new pivot here is the stock’s 21-day EMA. That puts our target at $20, down from $26.
Portfolio News
Ocular Therapeutix (OCUL)
On Tuesday evening, Ocular Therapeutix announced that the firm will meet with analysts from Piper Sandler in New York City on Wednesday (today). Piper Sandker’s Biren Amin currently has a “buy” rating on the stock with a $31 target price.
Planet Labs (PL)
On Tuesday, Planet Labs announced the successful launch of Pelican-12, an updated second-generation, high-resolution Pelican satellite. Pelican-12 was launched to orbit aboard the Bandwagon-5 rideshare mission with SpaceX (SPCX) from Cape Canaveral Space Force Station in central Florida. The firm has successfully made initial contact with the satellite and has begun the process to commission the satellite and lower its orbital altitude. This was the firm’s 25th satellite sent to orbit in 2026, across four launches.
Additionally, SES Space & Defense launched a demonstration payload aboard that Pelican-12 satellite, in support of NASA’s Communications Services Project. NASA announced that it will gradually sunset its Tracking and Data Relay Satellite fleet and acquire commercial space relay services for future science missions in low Earth orbit. This potentially bodes well for firms like Planet Labs going forward.
Tuesday’s Intentions vs Actual Trades
Intention: Purchase 10 shares of (ONDS) at or close to the last sale of $5.92
Actual trade: Bought 10 shares of ONDS at $6.10
Intention: Purchase 10 shares of OCUL at or close to the last sale of $6.28
Actual trade: Bought 10 shares of OCUL at $6.645
Intention: Purchase 2 shares of (RKLB) at or close to the last sale of $50.09
Actual trade: Bought 2 shares of RKLB at $51.50.
Wednesday’s Intention
No trades intended.
Current Positions
Long 60 shares of (ASPN) at $5.1083. Target price: $10. Last close: $5.33.
Long 50 shares of (EVLV) at $5.33.92. Target price: $7.50. Last close: $4.28.
Long 170 shares of (OCUL) at $8.1627. Target price: $12. Last close: $6.65.
Short one OCUL $9 December 18 call at $0.80. Last close: $0.29.
Long 310 shares of (ONDS) at $7.7674. Target price: $12. Last close: $6.10.
Long 110 shares of (PL) at $19.7084. Target price: $20. Last close: $13.40.
Short one PL $17 November 19 call at $1.70. Last close: $0.20.
Long 60 shares of (PTON) at $5.0263. Target price: $9. Last close: $5.45.
Long 12 shares of (RKLB) at $61.382. Target price: $97. Last close: $50.90.
Long 150 shares of (SOFI) at $15.90. Target price: $24. Last close: $14.58.
Cash: $188.10.
Portfolio value: $8,317.20, -16.8% from inception on March 24.
At the time of publication, Guilfoyle was long ASPN, EVLV, OCUL, ONDS, PL, PTON, RKLB and SOFI.
