Financial Technology

Short Interest in Pagaya Technologies Ltd. (NASDAQ:PGY) Rises By 17.4%

Pagaya Technologies Ltd. (NASDAQ:PGYGet Rating) was the target of a significant growth in short interest during the month of November. As of November 15th, there was short interest totalling 2,160,000 shares, a growth of 17.4% from the October 31st total of 1,840,000 shares. Currently, 0.9% of the company’s stock are short sold. Based on an average daily trading volume, of 1,660,000 shares, the days-to-cover ratio is presently 1.3 days.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on PGY shares. Wedbush initiated coverage on shares of Pagaya Technologies in a research note on Wednesday, October 12th. They issued a “neutral” rating and a $2.00 price target on the stock. Moffett Nathanson began coverage on shares of Pagaya Technologies in a research note on Monday, September 12th. They issued a “market perform” rating and a $12.00 target price on the stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Verition Fund Management LLC purchased a new stake in Pagaya Technologies during the 3rd quarter valued at $33,000. Virtu Financial LLC purchased a new stake in Pagaya Technologies during the third quarter valued at $37,000. Jane Street Group LLC bought a new position in Pagaya Technologies in the second quarter valued at about $103,000. ExodusPoint Capital Management LP purchased a new position in Pagaya Technologies in the second quarter worth about $113,000. Finally, Barclays PLC bought a new stake in shares of Pagaya Technologies during the 3rd quarter valued at about $121,000.

Pagaya Technologies Stock Down 3.9 %

Shares of PGY stock traded down $0.04 during mid-day trading on Friday, hitting $0.99. The company’s stock had a trading volume of 884,791 shares, compared to its average volume of 3,428,330. 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 52-week low of $0.96 and a 52-week high of $34.50. The company has a 50-day moving average of $1.34.

Pagaya Technologies (NASDAQ:PGYGet Rating) last posted its earnings results on Thursday, November 10th. The company reported ($0.02) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.02). The company had revenue of $185.61 million for the quarter, compared to the consensus estimate of $178.00 million. Equities analysts forecast that Pagaya Technologies will post -0.3 earnings per share for the current fiscal year.

About Pagaya Technologies

(Get Rating)

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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