Pagaya Technologies Ltd. (NASDAQ:PGY) Short Interest Down 29.8% in April

Pagaya Technologies Ltd. (NASDAQ:PGY - Get Free Report) was the target of a significant drop in short interest in April. As of April 15th, there was short interest totalling 1,270,000 shares, a drop of 29.8% from the March 31st total of 1,810,000 shares. Currently, 3.8% of the company's stock are sold short. Based on an average daily trading volume, of 1,340,000 shares, the days-to-cover ratio is presently 0.9 days.

Insider Activity

In other Pagaya Technologies news, CEO Gal Krubiner acquired 33,600 shares of the stock in a transaction on Thursday, April 4th. The stock was purchased at an average price of $10.36 per share, for a total transaction of $348,096.00. Following the purchase, the chief executive officer now directly owns 523,076 shares in the company, valued at $5,419,067.36. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Pagaya Technologies news, CEO Gal Krubiner acquired 33,600 shares of the stock in a transaction on Thursday, April 4th. The stock was purchased at an average price of $10.36 per share, for a total transaction of $348,096.00. Following the purchase, the chief executive officer now directly owns 523,076 shares in the company, valued at $5,419,067.36. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CRO Yahav Yulzari acquired 60,000 shares of the stock in a transaction on Wednesday, April 3rd. The shares were acquired at an average price of $10.17 per share, with a total value of $610,200.00. Following the purchase, the executive now owns 299,699 shares in the company, valued at $3,047,938.83. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 194,807 shares of company stock worth $2,012,373. 19.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Pagaya Technologies

Several large investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC acquired a new position in shares of Pagaya Technologies during the 1st quarter valued at $12,686,000. Counterpoint Mutual Funds LLC acquired a new position in shares of Pagaya Technologies in the 1st quarter worth $275,000. Quadrature Capital Ltd boosted its position in shares of Pagaya Technologies by 3,558.5% in the fourth quarter. Quadrature Capital Ltd now owns 784,860 shares of the company's stock worth $1,079,000 after buying an additional 763,407 shares during the period. Yarra Square Partners LP acquired a new stake in shares of Pagaya Technologies in the fourth quarter worth $4,099,000. Finally, Swiss National Bank acquired a new stake in shares of Pagaya Technologies in the fourth quarter worth $658,000. 57.14% of the stock is currently owned by institutional investors and hedge funds.

Pagaya Technologies Stock Performance

PGY traded up $0.71 during trading hours on Friday, hitting $10.40. The company's stock had a trading volume of 1,256,665 shares, compared to its average volume of 1,149,420. Pagaya Technologies has a fifty-two week low of $8.56 and a fifty-two week high of $33.96. The company has a current ratio of 4.05, a quick ratio of 4.05 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $614.14 million, a PE ratio of -4.81 and a beta of 6.66. The company has a 50-day simple moving average of $12.30 and a 200 day simple moving average of $14.30.

Analyst Upgrades and Downgrades

PGY has been the topic of a number of research analyst reports. JMP Securities reduced their target price on Pagaya Technologies from $30.00 to $25.00 and set a "market outperform" rating on the stock in a report on Monday, April 8th. Canaccord Genuity Group reaffirmed a "buy" rating and set a $42.00 target price on shares of Pagaya Technologies in a report on Thursday, February 22nd. Finally, Wedbush cut their price target on Pagaya Technologies from $18.00 to $11.50 and set a "neutral" rating on the stock in a report on Friday, March 15th. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Pagaya Technologies presently has an average rating of "Moderate Buy" and an average price target of $38.08.

About Pagaya Technologies

Pagaya Technologies Ltd., a product-focused technology company, deploys data science and proprietary artificial intelligence-powered technology for financial institutions and investors in the United States, Israel, the Cayman Islands, and internationally. The company develops and implements proprietary artificial intelligence technology and related software solutions to assist partners to originate loans and other assets.