PICS (NASDAQ:PICS) Stock Now Rated "Moderate Buy" by Sell-Side Brokerages

Key Points

• Analyst consensus: PICS has a “Moderate Buy” rating from eight analysts, including five buys, one strong buy, and two sells. The average 12-month price target is $22.50.
• Shares under pressure: PICS opened at $7.10 after falling 9.7%, close to its 12-month low of $7.05 and below its 50-day and 200-day moving averages.
• Recent institutional interest: Several investment firms, including BlueCrest Capital Management and Whetstone Capital Advisors, initiated positions in PICS, while the State of Wyoming increased its stake by 23.1%.

Shares of PICS (NASDAQ:PICS - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the eight research firms that are covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell rating, five have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $22.50.

PICS has been the subject of several research reports. Royal Bank Of Canada decreased their price objective on shares of PICS from $18.00 to $16.00 and set an "outperform" rating for the company in a research note on Tuesday, August 25th. Mizuho decreased their price objective on PICS from $18.00 to $16.00 and set an "outperform" rating for the company in a report on Wednesday, August 26th. Wall Street Zen upgraded PICS from a "hold" rating to a "buy" rating in a research note on Sunday, October 11th. Zacks Research lowered shares of PICS from a "hold" rating to a "strong sell" rating in a report on Monday, October 19th. Finally, Weiss Ratings upgraded PICS from a "sell (d)" rating to a "sell (d+)" rating in a report on Monday, August 3rd.

PICS Trading Down 9.7%

Shares of PICS stock opened at $7.10 on Friday. The business's fifty day simple moving average is $10.70 and its 200-day simple moving average is $11.79. PICS has a 12-month low of $7.05 and a 12-month high of $19.95. The company has a market cap of $757.78 million and a PE ratio of 8.07.

Institutional Investors Weigh In On PICS

Several institutional investors and hedge funds have recently added to or reduced their stakes in PICS. BlueCrest Capital Management Ltd acquired a new position in PICS during the second quarter worth about $3,986,000. Whetstone Capital Advisors LLC acquired a new stake in PICS in the 2nd quarter valued at about $2,189,000. Readystate Asset Management LP purchased a new position in PICS in the 2nd quarter worth approximately $744,000. State of Wyoming lifted its stake in PICS by 23.1% in the 3rd quarter. State of Wyoming now owns 25,322 shares of the company's stock worth $215,000 after purchasing an additional 4,748 shares in the last quarter. Finally, Chicago Partners Investment Group LLC purchased a new position in PICS in the 3rd quarter worth approximately $180,000.

About PICS

PicS N.V. operates as a digital financial services company which provides digital wallet and application for individuals and businesses principally in Brazil. It offers a range of transactional products for its consumers, including Pix, an instant payment system, peer-to-peer between PicPay accounts, bill payments, payroll portability, global account and a payment assistant. PicS N.V., formerly known as Picpay Holdings Netherlands B.V., is based in S?o Paulo, Brazil.

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