Pagaya Technologies Ltd (NASDAQ:PGY) finished Thursday with a subtraction of -$0.03 to close at $1.58, a downside of -1.86 percent. An average of 5,248,500 shares of common stock have been traded in the last five days. There was a fall of -$0.0600 in the past week, and it reached a new high 8 times over the past 12 months. The last 20 days have seen an average of 6,160,375 shares traded, while the 50-day average volume stands at 8,880,126.
PGY stock has decreased by -26.51% in the last month. The company shares reached their 1-month lowest point of $1.5150 on 09/26/23. 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 $2.83 in 52 weeks. It has reached a new high 13 times so far this year and achieved 27.42% or $0.3400 in price. In spite of this, the price is down -44.17% from the 52-week high.
Valuation Metrics
Pagaya Technologies Ltd (PGY) stock’s beta is 7.88. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 1.55, the price-to-book (PB) ratio at 2.13.
Financial Health
The quick ratio of Pagaya Technologies Ltd for the three months ended June 29 was 3.77, and the current ratio was 3.77, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.69 and a total debt to equity ratio of 0.83 for the quarter ending June 29. Pagaya Technologies Ltd’s EBITDA margin for the year ending June 29 is -45.04%, while its operating margin for the same period stands at -24.90%. 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 June 29, Pagaya Technologies Ltd had $15.0 million in total debt. In the quarter under review, the net income was up 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 -$0.02 per share, but it turned out to be -$0.04, a -100.00% surprise. For the quarter, EBITDA amounted to -$5.77 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 28 September was 29.71%, suggesting the stock is oversold, with historical volatility in this time frame at 45.70%.
As of today, PGY’s price is $1.5920 -3.66% or -$0.0600 from its 5-day moving average. PGY is currently trading -32.19% lower than its 20-day SMA and +82.66% higher than its 100-day SMA. However, the stock’s current price level is -27.52% below the SMA50 and +116.44% above the SMA200.
The stochastic %K and %D were 8.17% and 6.28%, respectively, and the average true range (ATR) was 0.1368. With the 14-day stochastic at 8.61% and the average true range at 0.1550, the RSI (14) stands at 35.04%. The stock has reached -0.0767 on the 9-day MACD Oscillator while the 14-day reading was at -0.1876.
Analyst Ratings
JMP Securities launched coverage on Pagaya Technologies Ltd (NASDAQ: PGY) in its analyst report released on August 28, 2023. The firm assigned the stock a Mkt outperform 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 2 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 4 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 $2.75 and $6.00, with a median target of $3.25. Taking a look at these predictions, the average price target given by analysts for Pagaya Technologies Ltd (PGY) stock is $3.71.
