As of Monday, Pagaya Technologies Ltd.’s (NASDAQ:PGY) stock closed at $1.00, down from $1.02 the previous day. While Pagaya Technologies Ltd. has underperformed by -1.97%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, PGY fell by -89.89%, with highs and lows ranging from $34.50 to $0.57, whereas the simple moving average fell by -78.80% in the last 200 days.
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On February 16, 2023, Canaccord Genuity Upgraded Pagaya Technologies Ltd. (NASDAQ: PGY) to Buy. A report published by UBS on January 13, 2023, Initiated its previous ‘Neutral’ rating for PGY. Canaccord Genuity also rated PGY shares as ‘Hold’, setting a target price of $1.50 on the company’s shares in an initiating report dated December 14, 2022. Wedbush Initiated an Neutral rating on October 12, 2022, and assigned a price target of $2. MoffettNathanson initiated its ‘Market Perform’ rating for PGY, as published in its report on September 12, 2022.
Analysis of Pagaya Technologies Ltd. (PGY)
Further, the quarter-over-quarter increase in sales is 24.70%, showing a positive trend in the upcoming months.
One of the most important indicators of Pagaya Technologies Ltd.’s future performance is equity, which can be evaluated using several well-rounded types of analysis and research techniques. 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.
For any stock, average volume can also provide valuable insight into volatility, and PGY is recording 2.67M average volume. On a monthly basis, the volatility of the stock is set at 8.07%, whereas on a weekly basis, it is put at 4.61%, with a gain of 2.02% over the past seven days. Furthermore, long-term investors anticipate a median target price of $2.09, showing growth from the present price of $1.00, 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?
Along with the fundamentals, it is also important to consider how many employees own shares of the company. 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 25.09%. 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. Tiger Global Management LLC’s position in PGY has decreased by -15.30% in the first quarter. The company now owns 63,001,324 shares of the stock, with a value of $64.89 million, following the sale of -11,383,054 additional shares during the last quarter. Clal Pension & Provident Funds Lt made another increased to its shares in PGY during the first quarter, upping its stake by 4.77%.
At the end of the first quarter, Whale Rock Capital Management LLC decreased its PGY holdings by -31.77% and now holds 7.57 million PGY shares valued at $7.8 million with the lessened -3.52 million shares during the period. PGY shares are owned by institutional investors to the tune of 42.20% at present.
