Pagaya Technologies Ltd. (NASDAQ:PGY – Get Rating) saw a significant increase in short interest in the month of December. As of December 30th, there was short interest totalling 3,960,000 shares, an increase of 68.5% from the December 15th total of 2,350,000 shares. Based on an average daily volume of 2,710,000 shares, the short-interest ratio is presently 1.5 days. Currently, 1.4% of the shares of the stock are sold short.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in PGY. Tiger Global Management LLC acquired a new stake in shares of Pagaya Technologies in the 3rd quarter valued at about $134,636,000. Clal Insurance Enterprises Holdings Ltd acquired a new stake in shares of Pagaya Technologies in the 2nd quarter valued at about $160,964,000. Whale Rock Capital Management LLC acquired a new stake in shares of Pagaya Technologies in the 2nd quarter valued at about $48,660,000. Aflac Inc. acquired a new stake in shares of Pagaya Technologies in the 3rd quarter valued at about $2,831,000. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Pagaya Technologies in the 2nd quarter valued at about $6,270,000. 22.60% of the stock is owned by institutional investors and hedge funds.
Get Pagaya Technologies alerts:Pagaya Technologies Trading Down 1.0 %
Shares of PGY stock traded down $0.01 on Wednesday, hitting $0.94. The stock had a trading volume of 65,817 shares, compared to its average volume of 2,429,043. The company has a debt-to-equity ratio of 0.11, a current ratio of 4.93 and a quick ratio of 4.94. Pagaya Technologies has a 1 year low of $0.57 and a 1 year high of $34.50. The company's 50 day moving average price is $1.00 and its 200-day moving average price is $5.91.
Pagaya Technologies (NASDAQ:PGY – Get Rating) last released its quarterly earnings data on Thursday, November 10th. The company reported ($0.02) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.02). The business had revenue of $185.61 million for the quarter, compared to analyst estimates of $178.00 million. On average, research analysts anticipate that Pagaya Technologies will post -0.3 earnings per share for the current year.Analyst Ratings Changes
Several brokerages have commented on PGY. UBS Group began coverage on Pagaya Technologies in a report on Friday, January 13th. They issued a "neutral" rating and a $1.25 price objective on the stock. Wedbush began coverage on Pagaya Technologies in a research note on Wednesday, October 12th. They issued a "neutral" rating and a $2.00 price target on the stock. Canaccord Genuity Group began coverage on Pagaya Technologies in a research note on Wednesday, December 14th. They set a "hold" rating and a $1.50 price objective on the stock. Finally, Canaccord Genuity Group began coverage on Pagaya Technologies in a research report on Wednesday, December 14th. They issued a "hold" rating and a $1.50 target price on the stock. Five research analysts have rated the stock with a hold rating, According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $3.65.
Pagaya Technologies Company Profile
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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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