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.
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.
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.
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.