Pagaya Technologies Ltd. (NASDAQ:PGY – Get Rating) was the recipient of a large drop in short interest in the month of January. As of January 15th, there was short interest totalling 2,890,000 shares, a drop of 27.0% from the December 31st total of 3,960,000 shares. Approximately 1.0% of the shares of the stock are short sold. Based on an average daily volume of 2,750,000 shares, the short-interest ratio is presently 1.1 days.
Wall Street Analysts Forecast Growth
A number of analysts have recently issued reports on the stock. UBS Group assumed coverage on shares of Pagaya Technologies in a report on Friday, January 13th. They set a "neutral" rating and a $1.25 price objective for the company. Canaccord Genuity Group assumed coverage on shares of Pagaya Technologies in a report on Wednesday, December 14th. They set a "hold" rating and a $1.50 price objective for the company. Wedbush assumed coverage on shares of Pagaya Technologies in a report on Wednesday, October 12th. They set a "neutral" rating and a $2.00 price objective for the company. Finally, Canaccord Genuity Group assumed coverage on shares of Pagaya Technologies in a report on Wednesday, December 14th. They set a "hold" rating and a $1.50 price objective for the company. Five investment analysts have rated the stock with a hold rating, According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $3.65.
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Pagaya Technologies Price Performance
PGY traded up $0.09 during midday trading on Friday, reaching $1.07. 1,088,977 shares of the company's stock traded hands, compared to its average volume of 1,739,453. The firm has a fifty day moving average of $0.96 and a two-hundred day moving average of $5.76. The company has a current ratio of 4.93, a quick ratio of 4.94 and a debt-to-equity ratio of 0.11. Pagaya Technologies has a 52 week low of $0.57 and a 52 week high of $34.50.
Pagaya Technologies (NASDAQ:PGY – Get Rating) last released its quarterly earnings results on Thursday, November 10th. The company reported ($0.02) EPS for the quarter, meeting analysts' consensus estimates of ($0.02). The business had revenue of $185.61 million for the quarter, compared to the consensus estimate of $178.00 million. On average, equities analysts anticipate that Pagaya Technologies will post -0.3 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in the company. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Pagaya Technologies during the 2nd quarter valued at approximately $6,270,000. Clal Insurance Enterprises Holdings Ltd bought a new position in Pagaya Technologies during the 2nd quarter valued at approximately $160,964,000. Aflac Inc. bought a new position in Pagaya Technologies during the 3rd quarter valued at approximately $2,831,000. Millennium Management LLC bought a new position in Pagaya Technologies during the 2nd quarter valued at approximately $301,000. Finally, ExodusPoint Capital Management LP bought a new position in Pagaya Technologies during the 2nd quarter valued at approximately $113,000. Institutional investors own 22.60% of the company's stock.
About Pagaya Technologies
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Pagaya Technologies Ltd. operates as a financial technology company in Israel, the United States, and the Cayman Islands. It develops and implements proprietary artificial intelligence technology and related software solutions to assist partners to originate loans and other assets. Its partners include high-growth financial technology companies, incumbent financial institutions, auto finance providers, and brokers.
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