Pagaya Technologies Ltd. (NASDAQ:PGY – Get Free Report) saw a significant growth in short interest in January. As of January 15th, there was short interest totalling 3,440,000 shares, a growth of 17.8% from the December 31st total of 2,920,000 shares. Based on an average daily volume of 8,450,000 shares, the short-interest ratio is presently 0.4 days. Approximately 1.0% of the company’s shares are sold short.
Pagaya Technologies Stock Performance
Shares of PGY stock opened at $1.15 on Friday. The stock’s 50-day moving average is $1.30 and its two-hundred day moving average is $1.63. Pagaya Technologies has a 1 year low of $0.78 and a 1 year high of $2.83. The company has a quick ratio of 4.63, a current ratio of 4.63 and a debt-to-equity ratio of 0.49.
Pagaya Technologies (NASDAQ:PGY – Get Free Report) last released its quarterly earnings results on Thursday, November 2nd. The company reported ($0.01) earnings per share (EPS) for the quarter. Pagaya Technologies had a negative return on equity of 10.57% and a negative net margin of 19.31%. The company had revenue of $201.45 million for the quarter, compared to analysts’ expectations of $196.50 million. As a group, sell-side analysts forecast that Pagaya Technologies will post -0.11 earnings per share for the current year.
Institutional Investors Weigh In On Pagaya Technologies
A number of institutional investors have recently added to or reduced their stakes in the business. ARK Investment Management LLC lifted its position in shares of Pagaya Technologies by 58.8% during the 4th quarter. ARK Investment Management LLC now owns 1,489,697 shares of the company’s stock valued at $2,056,000 after acquiring an additional 551,520 shares during the period. Capricorn Fund Managers Ltd raised its holdings in Pagaya Technologies by 12.6% in the 4th quarter. Capricorn Fund Managers Ltd now owns 1,736,073 shares of the company’s stock valued at $2,396,000 after acquiring an additional 194,073 shares during the last quarter. Citigroup Inc. raised its holdings in Pagaya Technologies by 88.0% in the 3rd quarter. Citigroup Inc. now owns 309,747 shares of the company’s stock valued at $489,000 after acquiring an additional 145,004 shares during the last quarter. Walleye Capital LLC acquired a new position in Pagaya Technologies in the 3rd quarter valued at $25,000. Finally, Wolverine Trading LLC raised its holdings in Pagaya Technologies by 279.8% in the 3rd quarter. Wolverine Trading LLC now owns 17,602 shares of the company’s stock valued at $28,000 after acquiring an additional 27,393 shares during the last quarter. Hedge funds and other institutional investors own 57.14% of the company’s stock.
Analyst Ratings Changes
PGY has been the topic of several analyst reports. Jefferies Financial Group initiated coverage on Pagaya Technologies in a research note on Thursday, December 14th. They issued a “buy” rating and a $2.50 price objective on the stock. JMP Securities reduced their price objective on Pagaya Technologies from $2.75 to $2.25 and set a “market outperform” rating on the stock in a research note on Monday, October 16th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $3.23.
Pagaya Technologies Company Profile
Pagaya Technologies Ltd. operates as a financial technology company in Israel, the United States, and internationally. It primarily develops and implements proprietary artificial intelligence technology and related software solutions to assist partners to originate loans and other assets. The company’s partners include high-growth financial technology companies, incumbent banks and financial institutions, auto finance providers, and residential real estate service providers.