Uncovering Institutional Buying In Pagaya Technologies Ltd (NASDAQ: PGY)

Currently, there are 508.38M common shares owned by the public and among those 335.83M shares have been available to trade.

The company’s stock has a 5-day price change of 9.24% and 0.00% over the past three months. PGY shares are trading -5.80% year to date (YTD), with the 12-month market performance up to 0.78% higher. It has a 12-month low price of $0.78 and touched a high of $2.83 over the same period. PGY has an average intraday trading volume of 8.10 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 11.25%, 3.50%, and -12.36% respectively.

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Institutional ownership of Pagaya Technologies Ltd (NASDAQ: PGY) shares accounts for 17.09% of the company’s 508.38M shares outstanding.

It has a market capitalization of $927.48M and a beta (3y monthly) value of 6.90. The earnings-per-share (ttm) stands at -$0.21. Price movements for the stock have been influenced by the stock’s volatility, which stands at 8.87% over the week and 7.96% over the month.

Analysts forecast that Pagaya Technologies Ltd (PGY) will achieve an EPS of -$0.01 for the current quarter, -$0.01 for the next quarter and $0 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.03 while analysts give the company a high EPS estimate of $0.02. Comparatively, EPS for the current quarter was -$0.05 a year ago. Earnings per share for the fiscal year are expected to increase by 73.91%, and 95.37% over the next financial year.

Looking at the support for the PGY, a number of firms have released research notes about the stock. Jefferies stated their Buy rating for the stock in a research note on December 14, 2023, with the firm’s price target at $2.50. JMP Securities coverage for the Pagaya Technologies Ltd (PGY) stock in a research note released on August 28, 2023 offered a Mkt Outperform rating with a price target of $2.75. B. Riley Securities was of a view on July 27, 2023 that the stock is Buy, while The Benchmark Company gave the stock Buy rating on April 26, 2023, issuing a price target of $2. Canaccord Genuity on their part issued Buy rating on February 16, 2023.

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