Pagaya Technologies Ltd. (NASDAQ:PGY – Get Rating) saw 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. Based on an average trading volume of 2,750,000 shares, the short-interest ratio is presently 1.1 days. Currently, 1.0% of the shares of the company are short sold.
Hedge Funds Weigh In On Pagaya Technologies
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A number of hedge funds and other institutional investors have recently modified their holdings of PGY. Tiger Global Management LLC acquired a new stake in Pagaya Technologies in the third quarter valued at approximately $134,636,000. Clal Insurance Enterprises Holdings Ltd acquired a new stake in Pagaya Technologies in the second quarter valued at approximately $160,964,000. Whale Rock Capital Management LLC acquired a new stake in Pagaya Technologies in the second quarter valued at approximately $48,660,000. Aflac Inc. acquired a new stake in Pagaya Technologies in the third quarter valued at approximately $2,831,000. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Pagaya Technologies in the second quarter valued at approximately $6,270,000. 22.60% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several equities research analysts have recently issued reports on the stock. Canaccord Genuity Group began coverage on shares of Pagaya Technologies in a research report on Wednesday, December 14th. They set a “hold” rating and a $1.50 price objective on the stock. Wedbush began coverage on shares of Pagaya Technologies in a research report on Wednesday, October 12th. They set a “neutral” rating and a $2.00 target price for the company. UBS Group began 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. Finally, Canaccord Genuity Group began 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 analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $3.65.
Pagaya Technologies Trading Up 9.1 %
Shares of NASDAQ:PGY traded up $0.09 during trading on Friday, reaching $1.07. 1,043,198 shares of the company were exchanged, compared to its average volume of 1,822,373. The business’s fifty day simple moving average is $0.96 and its 200-day simple moving average is $5.72. Pagaya Technologies has a 12-month low of $0.57 and a 12-month high of $34.50. The company has a debt-to-equity ratio of 0.11, a quick ratio of 4.94 and a current ratio of 4.93.
Pagaya Technologies (NASDAQ:PGY – Get Rating) last issued its earnings results on Thursday, November 10th. The company reported ($0.02) EPS for the quarter, hitting analysts’ consensus estimates of ($0.02). The company had revenue of $185.61 million for the quarter, compared to analysts’ expectations of $178.00 million. On average, equities analysts anticipate that Pagaya Technologies will post -0.3 earnings per share for the current year.
About Pagaya Technologies
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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