Pagaya Technologies Ltd. (NASDAQ:PGY) Short Interest Update

Pagaya Technologies Ltd. (NASDAQ:PGYGet Free Report) was the target of a large increase in short interest in February. As of February 15th, there was short interest totalling 3,670,000 shares, an increase of 29.2% from the January 31st total of 2,840,000 shares. Based on an average trading volume of 8,900,000 shares, the days-to-cover ratio is presently 0.4 days. Approximately 1.4% of the shares of the stock are short sold.

Pagaya Technologies Stock Performance

PGY stock traded down $0.10 during trading on Monday, reaching $1.43. 10,073,230 shares of the stock were exchanged, compared to its average volume of 8,919,859. The company has a market capitalization of $1.01 billion, a P/E ratio of -7.94 and a beta of 6.84. The company has a current ratio of 4.05, a quick ratio of 4.63 and a debt-to-equity ratio of 0.49. Pagaya Technologies has a twelve month low of $0.78 and a twelve month high of $2.83. The stock has a 50 day simple moving average of $1.25 and a 200-day simple moving average of $1.45.

Shares of Pagaya Technologies are scheduled to reverse split before the market opens on Friday, March 8th. The 1-12 reverse split was announced on Monday, March 4th. The number of shares owned by shareholders will be adjusted after the market closes on Thursday, March 7th.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PGY. Canaccord Genuity Group reissued a “buy” rating and set a $3.50 price objective on shares of Pagaya Technologies in a research note on Thursday, February 22nd. Jefferies Financial Group began coverage on Pagaya Technologies in a research note on Thursday, December 14th. They set a “buy” rating and a $2.50 price objective for the company. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Pagaya Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $3.54.

View Our Latest Stock Report on Pagaya Technologies

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of PGY. Millennium Management LLC bought a new position in Pagaya Technologies in the 2nd quarter worth approximately $301,000. Jane Street Group LLC bought a new position in Pagaya Technologies in the 2nd quarter worth approximately $103,000. ExodusPoint Capital Management LP bought a new position in Pagaya Technologies in the 2nd quarter worth approximately $113,000. HRT Financial LP bought a new position in Pagaya Technologies in the 4th quarter worth approximately $66,000. Finally, JPMorgan Chase & Co. grew its holdings in Pagaya Technologies by 299,769.2% during the 4th quarter. JPMorgan Chase & Co. now owns 584,745 shares of the company’s stock worth $725,000 after acquiring an additional 584,550 shares during the period. Institutional investors own 57.14% of the company’s stock.

About Pagaya Technologies

(Get Free Report)

Pagaya Technologies Ltd. operates as a financial technology company in Israel, the United States, and internationally. It primarily develops and implements proprietary artificial intelligence technology and related software solutions to assist partners to originate loans and other assets. The company's partners include high-growth financial technology companies, incumbent banks and financial institutions, auto finance providers, and residential real estate service providers.

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