The share price of PlayAGS Inc. (NYSE:AGS) fell to $5.05 per share on Wednesday from $5.32. While PlayAGS Inc. has underperformed by -5.08%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, AGS fell by -30.34%, with highs and lows ranging from $8.68 to $4.21, whereas the simple moving average fell by -19.21% in the last 200 days.
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On April 27, 2022, ROTH Capital started tracking PlayAGS Inc. (NYSE: AGS) recommending Buy. A report published by B. Riley Securities on June 11, 2021, Initiated its previous ‘Buy’ rating for AGS. Truist also Upgraded AGS shares as ‘Buy’, setting a target price of $12 on the company’s shares in a report dated May 07, 2021. Stifel initiated its ‘Buy’ rating for AGS, as published in its report on December 10, 2020. Credit Suisse’s report from May 21, 2020 suggests a price prediction of $3 for AGS shares, giving the stock a ‘Neutral’ rating. SunTrust also rated the stock as ‘Hold’.
Analysis of PlayAGS Inc. (AGS)
Further, the quarter-over-quarter increase in sales is 16.30%, showing a positive trend in the upcoming months.
To gain a thorough understanding of PlayAGS Inc.’s future performance, several well-rounded types of analysis and research techniques can be used, with equity being among the most crucial. The goal here is to ensure that your current return on equity of -50.40% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 1.80, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
It is also very valuable to look at average volume as an indicator of volatility for a stock, and AGS is recording an average volume of 329.66K. On a monthly basis, the volatility of the stock is set at 6.99%, whereas on a weekly basis, it is put at 5.26%, with a loss of -5.61% over the past seven days. Furthermore, long-term investors anticipate a median target price of $11.38, showing growth from the present price of $5.05, which can serve as yet another indication of whether AGS is worth investing in or should be passed over.
How Do You Analyze PlayAGS Inc. Shares?
The number of employees owning shares of the company should also be considered in addition to the fundamentals. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 1.50%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 82.30% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in AGS shares?
The recent increase in stakes in AGS appears to be a result of several institutional investors and hedge funds increasing their positions. ArrowMark Colorado Holdings LLC made another decreased to its shares in AGS during the first quarter, downing its stake by -23.19%. During the last quarter, the company dropped down -750,932 additional shares for a total stake of worth $16.71 million, bringing number of shares owned by the company to 2,486,775.
During the first quarter, Goldman Sachs & Co. LLC subtracted a -1,855,887 position in AGS. Renaissance Technologies LLC sold an additional 75200.0 shares in the last quarter, decreasing its holdings by -5.55%, now holding 1.28 million shares worth $8.6 million. At the end of the first quarter, The Vanguard Group, Inc. decreased its AGS holdings by -0.41% and now holds 1.23 million AGS shares valued at $8.26 million with the lessened 5118.0 shares during the period. AGS shares are owned by institutional investors to the tune of 82.30% at present.