Pagaya Technologies Ltd [NASDAQ: PGY] slipped around -0.1 points on Monday, while shares priced at $1.43 at the close of the session, down -6.54%. The company report on March 4, 2024 at 8:30 AM that Pagaya Announces Effective Date for Reverse Stock Split.
PGY ordinary shares expected to begin trading on a split-adjusted basis on Friday, March 8, 2024.
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Reverse split is part of the Company’s actions to enhance marketability of its stock to U.S. investment community.
Compared to the average trading volume of 8.87M shares, PGY reached a trading volume of 9981425 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say 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 $3.33 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 0.11, with the Price to Sales ratio for PGY stock in the period of the last 12 months amounting to 1.32. The Price to Book ratio for the last quarter was 1.90, with the Price to Cash per share for the same quarter was set at 0.29.
How has PGY stock performed recently?
Pagaya Technologies Ltd [PGY] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -4.67. With this latest performance, PGY shares gained by 21.19% in over the last four-week period, additionally sinking by -37.00% over the last 6 months – not to mention a rise of 34.91% 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 57.42, with the RSI for the last a single of trading hit 56.33, and the three-weeks RSI is set at 56.18 for Pagaya Technologies Ltd [PGY]. The present Moving Average for the last 50 days of trading for this stock 1.2666, while it was recorded at 1.4700 for the last single week of trading, and 1.5133 for the last 200 days.
Pagaya Technologies Ltd [PGY]: Deeper insight into the fundamentals
Pagaya Technologies Ltd’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.63 and a Current Ratio set at 4.05.
Earnings analysis for Pagaya Technologies Ltd [PGY]
With the latest financial reports released by the company, Pagaya Technologies Ltd posted -0.09/share EPS, while the average EPS was predicted by analysts to be reported at -0.03/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -200.00%. 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.
Insider trade positions for 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%.
