GIC Pte Ltd. has recently announced that it has increased stake in Pagaya Technologies Ltd. (NASDAQ:PGY) by 46.70%. After grabbing 42.87 million shares, the institutional investor is now in possession of 13.65 million shares of the Technology Company. The new investment brought the stake of investor firm to 8.10% having worth around $37.17 million. Moreover, Clal Pension & Provident Funds Lt increased its share by 0.71 million to have a control over 42.72 million shares. And Cantor Fitzgerald & Co. raised its holdings to 2.19 million shares by acquiring 2.19 million shares or 0.41% of the stake.
Pagaya Technologies Ltd. (PGY) concluded trading on 05/24/23 at a closing price of $1.09, with 2.8 million shares of worth about $3.05 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 10.09% during that period and on Wednesday the price saw a gain of about 2.83%. Currently the company’s common shares owned by public are about 711.07M shares, out of which, 226.37M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 5 analysts are covering the PGY stock and their offered price forecasts bring an average price target of $1.82. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $3.00 and could fall to a lowest price of $1.00. The stock’s current price level is 40.11% above of average price target set by the analysts, while a rise to estimated low would result in loss of -9.0% for the stock. However, touching the estimated high of $3.00 would mean a gain of 63.67% for the stock.
BlueStar TA-BIGITech Israel Techn, Global X FinTech ETF, and Fidelity Nasdaq Composite Index E are the top 3 mutual funds which are holding stakes in Pagaya Technologies Ltd. BlueStar TA-BIGITech Israel Techn is currently holding 0.66 million shares of worth totaling $0.57 million. The company recently came buying 0.0 shares which brought its stake up to 0.13% of the company’s outstanding shares. Fidelity Nasdaq Composite Index E, after buying 0.17 million shares, have now control over 0.03% of the stake in the company. It holds 190.0 shares of worth $0.15 million.
Pagaya Technologies Ltd. (NASDAQ: PGY) started trading at $1.05, below -$0.01 from concluding price of the previous day. However, the stock later moved at a day high price of 1.1450, or with a gain of 2.83%. Stock saw a price change of 26.30% in past 5 days and over the past one month there was a price change of 31.33%. Year-to-date (YTD), PGY shares are showing a performance of -12.10% which decreased to -89.02% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $0.57 but also hit the highest price of $34.50 during that period. The average intraday trading volume for Pagaya Technologies Ltd. shares is 1.92 million. The stock is currently trading 23.52% above its 20-day simple moving average (SMA20), while that difference is up 15.29% for SMA50 and it goes to -65.49% lower than SMA200.
GIC Pte Ltd. acquired 42.87 million shares of Pagaya Technologies Ltd. having value of about $37.17 million. Data submitted at the U.S SEC by GIC Pte Ltd. revealed that the firm now holds 13.65 million shares in the company valued at close to $14874093.13, or have control over 46.70% stake in the company. Pagaya Technologies Ltd. (NASDAQ: PGY) currently have 711.07M outstanding shares and institutions hold larger chunk of about 42.20% of that. Holding of mutual funds in the company is about 0.34% while other institutional holders and individual stake holders have control over 30.32% and — of the stake respectively.
The stock has a current market capitalization of $780.08M. It has posted earnings per share of -$0.46 in the same period. It has Quick Ratio of 4.20 while making debt-to-equity ratio of 0.49. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for PGY, volatility over the week remained 16.48% while standing at 10.71% over the month.
Analysts are in expectations that Pagaya Technologies Ltd. (PGY) stock would likely to be making an EPS of -$0.02 in the current quarter, while forecast for next quarter EPS is -$0.02 and it is $0 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.03 which is -$0.02 at the higher side of the target for the same. Stock’s fiscal year EPS is expected to drop by -133.40% while it is estimated to increase by 92.90% in next year.
Analysts at 5 brokerage firms have issued recommendations for the Pagaya Technologies Ltd. (PGY)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.40. Out of those 5 Wall Street analysts, 2 recommended a “Buy” rating, while 3 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
