Pagaya Technologies (NASDAQ:PGY) Trading Down 13.1% – What’s Next?

Pagaya Technologies Ltd. (NASDAQ:PGY) shares fell 13.1% during mid-day trading on Monday . The company traded as low as $9.30 and last traded at $9.18. 1,934,477 shares traded hands during trading, a decline of 32% from the average session volume of 2,839,006 shares. The stock had previously closed at $10.57.

Analyst Ratings Changes

PGY has been the subject of a number of recent research reports. Canaccord Genuity Group reiterated a “buy” rating and set a $25.00 price target on shares of Pagaya Technologies in a research note on Thursday, February 13th. Citigroup raised Pagaya Technologies from a “neutral” rating to a “buy” rating and raised their price target for the stock from $13.00 to $14.50 in a report on Friday, February 7th. JMP Securities boosted their target price on Pagaya Technologies from $25.00 to $26.00 and gave the company a “market outperform” rating in a report on Friday, February 14th. Finally, UBS Group assumed coverage on Pagaya Technologies in a report on Friday, December 20th. They issued a “neutral” rating and a $11.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $20.17.

Pagaya Technologies Trading Up 3.5 %

The firm has a market capitalization of $754.24 million, a price-to-earnings ratio of -1.86 and a beta of 5.97. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.17 and a current ratio of 1.17. The business has a fifty day moving average price of $11.03 and a 200 day moving average price of $11.09.

Pagaya Technologies (NASDAQ:PGY) last issued its earnings results on Thursday, February 13th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.32). The firm had revenue of $279.39 million for the quarter, compared to analysts’ expectations of $264.28 million. Pagaya Technologies had a positive return on equity of 0.82% and a negative net margin of 39.20%. During the same quarter in the previous year, the firm posted $0.24 EPS. As a group, equities analysts forecast that Pagaya Technologies Ltd. will post 0.88 earnings per share for the current year.

Insider Activity

In other news, insider Tami Rosen sold 35,369 shares of the business’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $15.00, for a total transaction of $530,535.00. Following the transaction, the insider now directly owns 38,181 shares of the company’s stock, valued at approximately $572,715. The trade was a 48.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Sanjiv Das sold 7,282 shares of the firm’s stock in a transaction on Friday, January 17th. The shares were sold at an average price of $8.85, for a total transaction of $64,445.70. Following the sale, the president now directly owns 91,163 shares of the company’s stock, valued at approximately $806,792.55. The trade was a 7.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 101,692 shares of company stock valued at $1,205,379. Company insiders own 49.56% of the company’s stock.

Hedge Funds Weigh In On Pagaya Technologies

Institutional investors have recently added to or reduced their stakes in the company. R Squared Ltd purchased a new stake in shares of Pagaya Technologies during the fourth quarter worth about $30,000. Pilgrim Partners Asia Pte Ltd purchased a new stake in Pagaya Technologies during the 4th quarter worth approximately $43,000. Nisa Investment Advisors LLC acquired a new position in shares of Pagaya Technologies in the 4th quarter valued at approximately $57,000. KLP Kapitalforvaltning AS purchased a new position in shares of Pagaya Technologies during the 4th quarter valued at approximately $67,000. Finally, Jefferies Financial Group Inc. acquired a new stake in shares of Pagaya Technologies during the fourth quarter worth approximately $93,000. Institutional investors and hedge funds own 57.14% of the company’s stock.

About Pagaya Technologies

Pagaya Technologies Ltd., a product-focused technology company, deploys data science and proprietary artificial intelligence-powered technology for financial institutions and investors in the United States, Israel, the Cayman Islands, and internationally. The company develops and implements proprietary artificial intelligence technology and related software solutions to assist partners to originate loans and other assets.