Pagaya Technologies Ltd (NASDAQ: PGY) stock fell -4.32% on Monday to $1.33 against a previous-day closing price of $1.39. With 3.48 million shares changed hands, the volume of the stock remained lighter than its average volume of 6.15 million shares. During the session, the Software – Infrastructure company that operates in wider Technology sector, reached to the highest price of $1.4050 whereas the lowest price it dropped to was $1.3200. The 52-week range on PGY shows that it touched its highest point at $2.83 and its lowest point at $0.57 during that stretch. It currently has a 1-year price target of $3.55. Beta for the stock currently stands at 7.40.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of PGY was up-trending over the past week, with a rise of 8.13%, but this was up by 13.68% over a month. Three-month performance dropped to -33.83% while six-month performance rose 18.75%. The stock gained 22.58% in the past year, while it has gained 7.26% so far this year. A look at the trailing 12-month EPS for PGY yields -0.21 with Next year EPS estimates of -0.02. For the next quarter, that number is -0.01. This implies an EPS growth rate of 73.62% for this year and 89.01% for next year.
Float and Shares Shorts:
At present, 508.38 million PGY shares are outstanding with a float of 296.25 million shares on hand for trading. On Oct 30, 2023, short shares totaled 5.21 million, which was 0.73% higher than short shares on Sep 28, 2023. In addition to Mr. Gal Krubiner as the firm’s CEO, Co-Founder & Director, Mr. Avital Pardo serves as its CTO, Co-Founder & Director.
Institutional Ownership:
Through their ownership of 49.13% of PGY’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 20.51% of PGY, in contrast to 0.78% held by mutual funds. As the largest shareholder in PGY with 8.01% of the stake, GIC Pte Ltd. holds 42,867,434 shares worth 42,867,434. A second-largest stockholder of PGY, Clal Pension & Provident Funds Lt, holds 28,094,134 shares, controlling over 5.25% of the firm’s shares. EJF Capital LLC is the third largest shareholder in PGY, holding 13,681,142 shares or 2.56% stake. With a 0.24% stake in PGY, the ARK Israel Innovative Technology is the largest stakeholder. A total of 1,297,178 shares are owned by the mutual fund manager. The Digital Leaders Fund, which owns about 0.14% of PGY stock, is the second-largest Mutual Fund holder. It holds 772,869 shares valued at 0.98 million. Global X FinTech ETF holds 0.11% of the stake in PGY, owning 581,772 shares worth 0.74 million.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for PGY since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With PGY analysts setting a high price target of $6.00 and a low target of $2.00, the average target price over the next 12 months is $3.55. Based on these targets, PGY could surge 351.13% to reach the target high and rise by 50.38% to reach the target low. Reaching the average price target will result in a growth of 166.92% from current levels.
