Short Interest in PLAYSTUDIOS, Inc. (NASDAQ:MYPS) Rises By 236.3%

Key Points

• Short interest in PLAYSTUDIOS (NASDAQ:MYPS) jumped 236.3% in mid-July to 493,460 shares, though that still represents just 0.5% of the float and about 0.5 days of trading volume.
• The stock fell 6.6% to $0.62 on Friday, leaving the company with a market cap of about $79 million and trading near its recent moving averages.
• Recent fundamentals and analyst sentiment remain mixed: PLAYSTUDIOS missed EPS estimates last quarter despite beating revenue expectations, while analysts currently rate the stock a Hold on average with a $1.25 price target.

PLAYSTUDIOS, Inc. (NASDAQ:MYPS - Get Free Report) saw a large increase in short interest during the month of July. As of July 15th, there was short interest totaling 493,460 shares, an increase of 236.3% from the June 30th total of 146,734 shares. Based on an average daily volume of 974,675 shares, the short-interest ratio is presently 0.5 days. Currently, 0.5% of the company's stock are short sold.

Institutional Investors Weigh In On PLAYSTUDIOS

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Orion Porfolio Solutions LLC acquired a new position in PLAYSTUDIOS in the third quarter valued at $30,000. Franklin Resources Inc. purchased a new position in shares of PLAYSTUDIOS during the third quarter worth about $46,000. Verdad Advisers LP acquired a new stake in shares of PLAYSTUDIOS during the fourth quarter worth about $48,000. Deutsche Bank AG purchased a new stake in shares of PLAYSTUDIOS in the 4th quarter valued at about $61,000. Finally, Wells Fargo & Company MN boosted its position in shares of PLAYSTUDIOS by 46.2% in the 4th quarter. Wells Fargo & Company MN now owns 100,224 shares of the company's stock valued at $65,000 after purchasing an additional 31,685 shares during the period. 37.52% of the stock is currently owned by institutional investors and hedge funds.

PLAYSTUDIOS Trading Down 6.6%

MYPS stock traded down $0.04 during trading on Friday, hitting $0.62. 321,815 shares of the company's stock were exchanged, compared to its average volume of 1,208,092. The business has a 50-day moving average price of $0.58 and a two-hundred day moving average price of $0.54. The stock has a market capitalization of $79.04 million, a price-to-earnings ratio of -2.20 and a beta of 0.96. PLAYSTUDIOS has a 52-week low of $0.40 and a 52-week high of $1.25.

PLAYSTUDIOS (NASDAQ:MYPS - Get Free Report) last announced its quarterly earnings results on Monday, May 11th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.03). The company had revenue of $58.41 million during the quarter, compared to analysts' expectations of $52.69 million. PLAYSTUDIOS had a negative net margin of 15.79% and a negative return on equity of 14.38%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of PLAYSTUDIOS in a research report on Wednesday, June 24th. Wall Street Zen raised PLAYSTUDIOS from a "sell" rating to a "hold" rating in a report on Saturday, July 4th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $1.25.

About PLAYSTUDIOS

PLAYSTUDIOS, traded on NASDAQ as MYPS, is a digital entertainment company that develops free-to-play mobile and social casino games. Its flagship titles include POP! Slots, myVEGAS Slots and my KONAMI Slots, which combine classic casino mechanics with branded content and a proprietary loyalty program. Through the MyPLAY system, players earn virtual currency and loyalty points redeemable for real-world rewards, including hotel stays, dining and entertainment vouchers at partner venues.

Founded in 2011 and headquartered in Las Vegas, Nevada, PLAYSTUDIOS was co-founded by industry veteran Andrew Pascal, who serves as its Chief Executive Officer.

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