PLAYSTUDIOS (NASDAQ:MYPS) Stock Price Up 934.9% - Here's What Happened

Key Points

• PLAYSTUDIOS shares surged 934.9% intraday to $4.745 after closing at $0.4585, but only about 2,038 shares traded versus average volume of 534,542, making the move appear highly illiquid.
• Analyst sentiment remains mixed, with one Buy, two Hold and one Sell rating; the overall consensus is Hold, with a $12.50 price target.
• The company’s latest quarter fell short of expectations, reporting a $1.00 per-share loss versus a projected $0.37 loss and revenue of $54.99 million versus the $57.05 million consensus estimate.

PLAYSTUDIOS, Inc. (NASDAQ:MYPS - Get Free Report)'s stock price traded up 934.9% during mid-day trading on Thursday. The company traded as high as $4.79 and last traded at $4.7450. Approximately 2,038 shares changed hands during trading, a decline of 100% from the average session volume of 534,542 shares. The stock had previously closed at $0.4585.

Analysts Set New Price Targets

A number of analysts have recently commented on MYPS shares. Wall Street Zen upgraded shares of PLAYSTUDIOS from a "sell" rating to a "hold" rating in a research note on Saturday, July 4th. Weiss Ratings cut PLAYSTUDIOS from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Monday, September 21st. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, PLAYSTUDIOS presently has an average rating of "Hold" and a consensus price target of $12.50.

PLAYSTUDIOS Stock Down 4.5%

The company has a market capitalization of $544.74 million, a PE ratio of -12.54 and a beta of 0.96. The company's 50 day moving average is $0.54 and its two-hundred day moving average is $0.53.

PLAYSTUDIOS (NASDAQ:MYPS - Get Free Report) last issued its quarterly earnings data on Tuesday, August 11th. The company reported ($1.00) earnings per share for the quarter, missing analysts' consensus estimates of ($0.37) by ($0.63). PLAYSTUDIOS had a negative net margin of 20.65% and a negative return on equity of 19.61%. The firm had revenue of $54.99 million for the quarter, compared to analysts' expectations of $57.05 million.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in PLAYSTUDIOS stock. Marquette Asset Management LLC purchased a new stake in shares of PLAYSTUDIOS, Inc. (NASDAQ:MYPS - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 406,344 shares of the company's stock, valued at approximately $203,000. Marquette Asset Management LLC owned approximately 0.32% of PLAYSTUDIOS as of its most recent SEC filing. 37.52% of the stock is currently owned by institutional investors and hedge funds.

About PLAYSTUDIOS

PLAYSTUDIOS, Inc is a mobile and social gaming company that develops and operates free-to-play casual and social casino games. Its portfolio includes titles such as myVEGAS Slots, myKONAMI Slots, POP! Slots and MGM Slots Live, which are designed for play on mobile devices and other digital platforms.

The company's games are built around its playAWARDS loyalty program, which allows players to earn points and redeem them for real-world rewards. These rewards may include hotel stays, dining, entertainment, travel and other experiences offered through participating partners.

Founded in 2011 and headquartered in Las Vegas, Nevada, PLAYSTUDIOS serves players internationally through digital distribution platforms.

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