Pagaya Technologies Ltd. (NASDAQ:PGY - Get Free Report)'s stock price dropped 6.6% during trading on Monday . The stock traded as low as $9.93 and last traded at $10.07. Approximately 1,526,158 shares changed hands during trading, an increase of 34% from the average daily volume of 1,137,412 shares. The stock had previously closed at $10.78.
Wall Street Analysts Forecast Growth
PGY has been the topic of several analyst reports. Canaccord Genuity Group reissued a "buy" rating and set a $42.00 price target on shares of Pagaya Technologies in a research report on Thursday, February 22nd. Wedbush cut their price target on shares of Pagaya Technologies from $18.00 to $11.50 and set a "neutral" rating on the stock in a research report on Friday. Finally, Jefferies Financial Group initiated coverage on shares of Pagaya Technologies in a research report on Thursday, December 14th. They set a "buy" rating and a $30.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Pagaya Technologies presently has an average rating of "Moderate Buy" and a consensus price target of $38.42.
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Pagaya Technologies Stock Down 8.4 %
The company has a market capitalization of $582.82 million, a price-to-earnings ratio of -4.57 and a beta of 6.84. The firm's 50 day moving average price is $14.41 and its two-hundred day moving average price is $16.59. The company has a current ratio of 4.05, a quick ratio of 4.63 and a debt-to-equity ratio of 0.49.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. National Bank of Canada FI grew its stake in Pagaya Technologies by 44.6% in the 3rd quarter. National Bank of Canada FI now owns 45,664 shares of the company's stock valued at $69,000 after buying an additional 14,092 shares during the last quarter. Walleye Capital LLC acquired a new position in Pagaya Technologies in the 3rd quarter valued at about $25,000. Geode Capital Management LLC grew its stake in Pagaya Technologies by 4.7% in the 4th quarter. Geode Capital Management LLC now owns 393,923 shares of the company's stock valued at $488,000 after buying an additional 17,818 shares during the last quarter. HighTower Advisors LLC bought a new stake in Pagaya Technologies in the 3rd quarter valued at about $29,000. Finally, Pathstone Family Office LLC bought a new stake in Pagaya Technologies in the 3rd quarter valued at about $32,000. Institutional investors and hedge funds own 57.14% of the company's stock.
Pagaya Technologies Company Profile
(
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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.
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