Pagaya Technologies Ltd [NASDAQ: PGY] loss 0.00% or 0.0 points to close at $1.30 with a heavy trading volume of 11353167 shares. The company report on February 20, 2024 at 8:30 AM that Pagaya Closes Another $400 Million Consumer Loan Asset-Backed Securitization.
Pagaya remains the #1 personal loan ABS issuer in the U.S., reflecting strong investor demand and market confidence.
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Pagaya Technologies LTD. (NASDAQ: PGY) (“Pagaya” or “the Company”), a global technology company delivering AI-driven product solutions for the financial ecosystem, today announced the closing of PAID 2024-2, its 49th asset-backed securitization (ABS) and its second in 2024. Kroll Bond Rating Agency rated the transaction.
The daily chart for PGY points out that the company has recorded -33.67% loss over the past six months.
If we look at the average trading volume of 8.10M shares, PGY reached to a volume of 11353167 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Pagaya Technologies Ltd [PGY]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PGY shares is $3.21 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on PGY stock is a recommendation set at 1.33. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Jefferies have made an estimate for Pagaya Technologies Ltd shares, keeping their opinion on the stock as Buy, with their previous recommendation back on December 14, 2023. While these analysts kept the previous recommendation, JMP Securities raised their target price to Mkt Outperform. The new note on the price target was released on August 28, 2023, representing the official price target for Pagaya Technologies Ltd stock. Previously, the target price had yet another raise to $4, while B. Riley Securities analysts kept a Buy rating on PGY stock.
The Average True Range (ATR) for Pagaya Technologies Ltd is set at 0.10, with the Price to Sales ratio for PGY stock in the period of the last 12 months amounting to 1.25. The Price to Book ratio for the last quarter was 1.73, with the Price to Cash per share for the same quarter was set at 0.39.
Trading performance analysis for PGY stock
Pagaya Technologies Ltd [PGY] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 9.24. With this latest performance, PGY shares gained by 20.37% in over the last four-week period, additionally sinking by -33.67% over the last 6 months – not to mention a rise of 0.78% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for PGY stock in for the last two-week period is set at 58.71, with the RSI for the last a single of trading hit 65.21, and the three-weeks RSI is set at 54.63 for Pagaya Technologies Ltd [PGY]. The present Moving Average for the last 50 days of trading for this stock 1.2566, while it was recorded at 1.2420 for the last single week of trading, and 1.4858 for the last 200 days.
Pagaya Technologies Ltd [PGY]: A deeper dive into fundamental analysis
Pagaya Technologies Ltd’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.63 and a Current Ratio set at 4.63.
Pagaya Technologies Ltd [PGY]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Pagaya Technologies Ltd posted -0.05/share EPS, while the average EPS was predicted by analysts to be reported at -0.08/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 37.50%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for PGY.
An analysis of Institutional ownership at Pagaya Technologies Ltd [PGY]
The top three institutional holders of PGY stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in PGY stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in PGY stock with ownership which is approximately 5.8325%.
