Pagaya Technologies Ltd (NASDAQ:PGY) saw a downside of -1.84% to close Monday at $1.60 after subtracting -$0.03 on the day. The 5-day average trading volume is 5,911,940 shares of the company’s common stock. It has gained $1.8600 in the past week and touched a new high 1 time within the past 5 days. An average of 6,013,885 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 9,271,418.
PGY’s 1-month performance is -13.04% or -$0.3500 on its low of $1.5600 reached on 09/25/23. The company’s shares have touched a 52-week low of $0.57 and high of $2.83, with the stock’s rally to the 52-week high happening on 07/31/23. YTD, PGY has achieved 29.03% or $0.3600 and has reached a new high 13 times. However, the current price is down -43.46% from the 52-week high price.
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Valuation Metrics
PGY stock has a beta of 7.92. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 1.57 while the price-to-book (PB) in the most recent quarter is 2.16.
Pagaya Technologies Ltd’s quick ratio for the period ended June 29 was 3.77, with the current ratio over the same period at 3.77. As well, the company’s long term debt to equity for the quarter ending June 29 was 0.69, while the total debt to equity was 0.83. In terms of profitability, the gross margin trailing 12 months is 31.08%. The firm’s gross profit as reported stood at $297.84 million against revenue of $748.93 million.
Earnings Surprise
For the quarterly period ending June 29 this year, Net income and sales went up compared to those figures reported in the previous quarter. Net income grew 100.0% to -$314.53 million, while revenue of $0.0 was 100.0% off the previous quarter. Analysts expected PGY to announce -$0.02 per share in earnings in its latest quarter, but it posted -$0.04, representing a -100.00% surprise. EBITDA for the quarter stood at more than -$5.77 million. PGY stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 483.96 million, with total debt at $357.67 million.
Let’s look briefly at Pagaya Technologies Ltd (PGY) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 25 September was 25.01% to suggest the stock is trending oversold, with historical volatility in this time period at 35.49%.
The stock’s 5-day moving average is $1.6620, reflecting a -13.04% or -$0.2400 change from its current price. PGY is currently trading -17.95% above its 20-day SMA, +97.53% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -3.61% and SMA200 by+88.61%.
Stochastic %K and %D was 3.67% and 3.84% and the average true range (ATR) pointed at 0.1458. The RSI (14) points at 33.56%, while the 14-day stochastic is at 5.26% with the period’s ATR at 0.1649. The stock’s 9-day MACD Oscillator is pointing at -0.1389 and -0.2774 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Pagaya Technologies Ltd (NASDAQ: PGY), JMP Securities launched coverage with a Mkt outperform rating. Analysts offering their rating for PGY stock have a consensus rating for the stock as Overweight. Currently, 0 brokerage advisors rate PGY as a “sell,”, while 2 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 0 rates the stock as overweight while 4 have offered a “buy” rating.
What is PGY’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $2.75 and a high of $6.00, with their median price target at $3.25. Looking at these predictions, the average price target given by analysts is for Pagaya Technologies Ltd (PGY) stock is $3.71.
