Pagaya Technologies Ltd. (NASDAQ:PGY) finished Thursday with a subtraction of -$0.12 to close at $2.31, a downside of -4.94 percent. An average of 11,061,480 shares of common stock have been traded in the last five days. There was a fall of -$0.18 in the past week, and it reached a new high 2 times over the past 12 months. The last 20 days have seen an average of 12,518,045 shares traded, while the 50-day average volume stands at 7,426,270.
PGY stock has increased by 41.72% in the last month. The company shares reached their 1-month lowest point of $1.57 on 07/11/23. With the stock rallying to its 52-week high on 07/31/23, shares of the company touched a low of $0.57 and a high of $24.00 in 52 weeks. It has reached a new high 13 times so far this year and achieved 86.29% or $1.07 in price. In spite of this, the price is down -90.38% from the 52-week high.
Valuation Metrics
Pagaya Technologies Ltd. (PGY) stock’s beta is 7.85. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 2.24, the price-to-book (PB) ratio at 3.12.
Financial Health
The quick ratio of Pagaya Technologies Ltd. for the three months ended March 30 was 4.20, and the current ratio was 4.20, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.40 and a total debt to equity ratio of 0.49 for the quarter ending March 30. Pagaya Technologies Ltd.’s EBITDA margin for the year ending March 30 is -45.04%. Its gross profit as reported stood at $297.84 million compared to revenue of $748.93 million.
Earnings Surprise
For the three-month period that ended March 30, Pagaya Technologies Ltd. had $15.0 million in total debt. In the quarter under review, the net income was down than the previous quarter. The company posted a net income of -$314.53 million in the quarter, while revenues were grew 100.0%. The analyst consensus anticipated Pagaya Technologies Ltd.’s latest quarter earnings to come in at -$0.03 per share, but it turned out to be -$0.09, a -200.00% surprise. For the quarter, EBITDA amounted to -$21.46 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Pagaya Technologies Ltd. (PGY) price momentum. RSI 9-day as of the close on 10 August was 50.88%, suggesting the stock is Neutral, with historical volatility in this time frame at 73.48%.
As of today, PGY’s price is $2.43 -7.23% or -$0.18 from its 5-day moving average. PGY is currently trading +24.86% higher than its 20-day SMA and +133.31% higher than its 100-day SMA. However, the stock’s current price level is +108.11% above the SMA50 and +90.91% above the SMA200.
The stochastic %K and %D were 58.50% and 62.97%, respectively, and the average true range (ATR) was 0.27. With the 14-day stochastic at 46.94% and the average true range at 0.26, the RSI (14) stands at 56.28%. The stock has reached -0.06 on the 9-day MACD Oscillator while the 14-day reading was at 0.03.
Analyst Ratings
B. Riley Securities launched coverage on Pagaya Technologies Ltd. (NASDAQ: PGY) in its analyst report released on July 27, 2023. The firm assigned the stock a Buy rating. The consensus rating for Pagaya Technologies Ltd. (PGY) among analysts is Overweight. According to current brokerage recommendations, 0 brokerage firms advise that investors sell PGY, while 3 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 3 others rate it as a “buy”.
What is PGY’s price target for the next 12 months?
Analysts predict a range of price targets between $1.10 and $6.00, with a median target of $2.50. Taking a look at these predictions, the average price target given by analysts for Pagaya Technologies Ltd. (PGY) stock is $2.93.
