The share price of Pagaya Technologies Ltd. (NASDAQ:PGY) fell to $1.24 per share on Friday from $1.33. While Pagaya Technologies Ltd. has underperformed by -6.77%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, PGY fell by -87.45%, with highs and lows ranging from $34.50 to $0.57, whereas the simple moving average fell by -83.45% in the last 200 days.
On December 14, 2022, Canaccord Genuity started tracking Pagaya Technologies Ltd. (NASDAQ: PGY) recommending Hold. A report published by Wedbush on October 12, 2022, Initiated its previous ‘Neutral’ rating for PGY. MoffettNathanson also rated PGY shares as ‘Market Perform’, setting a target price of $12 on the company’s shares in an initiating report dated September 12, 2022.
Analysis of Pagaya Technologies Ltd. (PGY)
Further, the quarter-over-quarter increase in sales is 49.30%, showing a positive trend in the upcoming months.
To gain a thorough understanding of Pagaya Technologies Ltd.’s future performance, several well-rounded types of analysis and research techniques can be used, with equity being among the most crucial. Taking into account the quick ratio of the company, currently set at 4.90, 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 PGY is recording an average volume of 2.75M. On a monthly basis, the volatility of the stock is set at 19.96%, whereas on a weekly basis, it is put at 21.33%, with a gain of 63.16% over the past seven days. Furthermore, long-term investors anticipate a median target price of $5.17, showing growth from the present price of $1.24, which can serve as yet another indication of whether PGY is worth investing in or should be passed over.
How Do You Analyze Pagaya Technologies Ltd. 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 3.88%. 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 42.20% 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 PGY shares?
The recent increase in stakes in PGY appears to be a result of several institutional investors and hedge funds increasing their positions. The company now owns 74,384,378 shares of the stock, with a value of $74.38 million, following the purchase of 74,384,378 additional shares during the last quarter. Clal Pension & Provident Funds Lt made another decreased to its shares in PGY during the first quarter, downing its stake by -6.82%.
PGY shares are owned by institutional investors to the tune of 42.20% at present.