As of Wednesday close, Pagaya Technologies Ltd.’s (NASDAQ:PGY) stock traded at $1.72. The average number of shares traded per day over the past five days has been 7,134,160 shares. 3 times new highs have been achieved over the past 5 days, with a -$0.1800 fall in that time frame. In the last twenty days, the average volume was 6,058,010, while in the previous 50 days, it was 9,504,406.
Since last month, PGY stock retreated -10.42%. Shares of the company fell to $1.6723 on 09/20/23, the lowest level in the past month. A 52-week high of $3.02 was reached on 07/31/23 after having rallying from a 52-week low of $0.57. Since the beginning of this year, PGY’s stock price has risen by 38.71% or $0.4800, and marked a new high 13 times. However, the stock has declined by -43.05% since its 52-week high.
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Valuation Metrics
The stock’s beta is 7.94. Besides these, the trailing price-to-sales (P/S) ratio of 1.54, the price-to-book (PB) ratio of 2.36.
Financial Health
In the three months ended June 29, Pagaya Technologies Ltd.’s quick ratio stood at 3.80, while its current ratio was 3.80, showing that the company is able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending June 29 was 0.46, and the total debt-to-equity ratio was 0.59. On the profitability front, the trailing twelve-month gross margin is 35.90% percent. In the year ended June 29, EBITDA margin amounted to -45.04%, whereas operating margins totaled -16.20%. Based on annual data, PGY earned $297.84 million in gross profit and brought in $748.93 million in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was -42.60%. Return on equity (ROE) for the past 12 months was -37.00%.
In Pagaya Technologies Ltd.’s quarter-end financial report for June 29, it reported total debt of $15.0 million. According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. PGY’s revenue rose 100.0% during the quarter, while net income inched up to $748.93 million. While analysts expected Pagaya Technologies Ltd. to report -$0.02 quarterly earnings, the actual figure was -$0.04 per share. During the quarter, the company generated -$5.77 million in EBITDA. The liabilities of Pagaya Technologies Ltd. were 483.96 million at the end of its most recent quarter ended June 29, and its total debt was $357.67 million.
Technical Picture
This quick technical analysis looks at Pagaya Technologies Ltd.’s (PGY) price momentum. With a historical volatility rate of 70.02%, the RSI 9-day stood at 29.86% on 20 September.
With respect to its five-day moving average, the current Pagaya Technologies Ltd. price is down by -9.47% percent or -$0.1800. At present, PGY shares trade -14.43% below its 20-day simple moving average and +100.00% percent above its 100-day simple moving average. However, the stock is currently trading approximately +8.18% above its SMA50 and +66.99% above its SMA200.
Stochastic coefficient K was 3.74% and Stochastic coefficient D was 6.39%, while ATR was 0.1701. Given the Stochastic reading of 5.91% for the 14-day period, the RSI (14) reading has been calculated as 37.06%. As of today, the MACD Oscillator reading stands at -0.1678, while the 14-day reading stands at -0.2950.
Analyst Ratings
JMP Securities launched its rating on Pagaya Technologies Ltd. (NASDAQ: PGY) to a Mkt outperform in a note to investors on August 28, 2023. Pagaya Technologies Ltd. (PGY) has been rated Overweight by analysts. According to 0 brokerage firms, PGY is a sell, and 2 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 0 analysts rate Pagaya Technologies Ltd. stock as buy, with 4 recommending it as overweight.
With a median target price of $3.25, the current consensus forecast for the stock is $2.75 – $6.00. Based on these forecasts, analysts predict Pagaya Technologies Ltd. (PGY) will achieve an average price target of $3.71.
