Pagaya Technologies (NASDAQ:PGY) Shares Gap Down to $0.90

Pagaya Technologies Ltd. (NASDAQ:PGY – Get Rating) gapped down prior to trading on Friday . The stock had previously closed at $0.90, but opened at $0.87. Pagaya Technologies shares last traded at $0.88, with a volume of 184,464 shares changing hands.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on PGY shares. Benchmark started coverage on Pagaya Technologies in a research report on Tuesday, April 25th. They issued a “buy” rating and a $2.00 target price for the company. Canaccord Genuity Group raised Pagaya Technologies from a “hold” rating to a “buy” rating and upped their target price for the company from $1.50 to $3.00 in a research report on Thursday, February 16th. Finally, UBS Group upped their price objective on Pagaya Technologies from $1.25 to $1.35 and gave the company a “neutral” rating in a research note on Thursday, February 16th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $3.64.

Pagaya Technologies Trading Down 1.4 %

The firm has a market capitalization of $625.92 million, a PE ratio of -1.81 and a beta of 7.88. The business has a 50 day moving average price of $0.94 and a 200-day moving average price of $1.02. The company has a current ratio of 4.17, a quick ratio of 3.28 and a debt-to-equity ratio of 0.30.

Pagaya Technologies (NASDAQ:PGY – Get Rating) last released its quarterly earnings data on Wednesday, February 15th. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.02. Pagaya Technologies had a negative return on equity of 8.02% and a negative net margin of 42.32%. The firm had revenue of $192.89 million during the quarter, compared to the consensus estimate of $166.00 million. Analysts expect that Pagaya Technologies Ltd. will post -0.08 earnings per share for the current year.

Hedge Funds Weigh In On Pagaya Technologies

Hedge funds have recently bought and sold shares of the company. Tiger Global Management LLC acquired a new stake in Pagaya Technologies during the 3rd quarter valued at $134,636,000. Clal Insurance Enterprises Holdings Ltd grew its holdings in Pagaya Technologies by 4.8% during the 4th quarter. Clal Insurance Enterprises Holdings Ltd now owns 42,002,141 shares of the company’s stock valued at $52,083,000 after buying an additional 1,911,172 shares during the last quarter. JTC Employer Solutions Trustee Ltd acquired a new stake in Pagaya Technologies during the 1st quarter valued at $931,000. ETF Managers Group LLC acquired a new stake in Pagaya Technologies during the 1st quarter valued at $676,000. Finally, JPMorgan Chase & Co. grew its holdings in Pagaya Technologies by 299,769.2% during the 4th quarter. JPMorgan Chase & Co. now owns 584,745 shares of the company’s stock valued at $725,000 after buying an additional 584,550 shares during the last quarter. 22.60% of the stock is owned by hedge funds and other institutional investors.

Pagaya Technologies Company Profile

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Pagaya Technologies Ltd. operates as a financial technology company in Israel, the United States, and the Cayman Islands. It develops and implements proprietary artificial intelligence technology and related software solutions to assist partners to originate loans and other assets. Its partners include high-growth financial technology companies, incumbent financial institutions, auto finance providers, and brokers.