Pagaya Technologies (NASDAQ:PGY) Hits New 52-Week Low – What’s Next?

Shares of Pagaya Technologies Ltd. (NASDAQ:PGY) hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $8.56 and last traded at $8.61, with a volume of 1898871 shares trading hands. The stock had previously closed at $8.81.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. B. Riley lowered their target price on Pagaya Technologies from $48.00 to $36.00 and set a “buy” rating for the company in a report on Monday, September 30th. Oppenheimer started coverage on Pagaya Technologies in a research report on Tuesday, October 1st. They issued an “outperform” rating and a $12.00 price target for the company. Wedbush reaffirmed a “neutral” rating and set a $13.00 price objective on shares of Pagaya Technologies in a research report on Monday, August 12th. Canaccord Genuity Group cut their target price on Pagaya Technologies from $32.00 to $25.00 and set a “buy” rating on the stock in a research note on Wednesday, November 13th. Finally, Benchmark reissued a “buy” rating and set a $21.00 price target on shares of Pagaya Technologies in a research report on Wednesday, October 16th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $22.11.

Pagaya Technologies Stock Down 2.7 %

The company has a market capitalization of $615.50 million, a price-to-earnings ratio of -3.47 and a beta of 6.33. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.50 and a current ratio of 1.17. The business’s 50 day moving average is $11.50 and its 200 day moving average is $12.34.

Insider Transactions at Pagaya Technologies

In related news, President Sanjiv Das sold 10,683 shares of Pagaya Technologies stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $11.77, for a total value of $125,738.91. Following the completion of the transaction, the president now owns 64,794 shares in the company, valued at $762,625.38. The trade was a 14.15 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Yahav Yulzari sold 150,000 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $15.50, for a total value of $2,325,000.00. Following the completion of the transaction, the insider now directly owns 161,637 shares of the company’s stock, valued at $2,505,373.50. The trade was a 48.13 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 186,045 shares of company stock worth $2,755,982. Company insiders own 49.56% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in PGY. Geode Capital Management LLC increased its holdings in Pagaya Technologies by 7.8% in the 3rd quarter. Geode Capital Management LLC now owns 596,992 shares of the company’s stock worth $6,310,000 after acquiring an additional 43,068 shares in the last quarter. State Street Corp grew its position in shares of Pagaya Technologies by 14.6% in the third quarter. State Street Corp now owns 763,823 shares of the company’s stock valued at $8,074,000 after purchasing an additional 97,135 shares during the period. Point72 Asset Management L.P. grew its position in shares of Pagaya Technologies by 4,374.9% in the third quarter. Point72 Asset Management L.P. now owns 311,859 shares of the company’s stock valued at $3,296,000 after purchasing an additional 304,890 shares during the period. Centiva Capital LP acquired a new stake in shares of Pagaya Technologies in the third quarter valued at about $617,000. Finally, Arizona PSPRS Trust purchased a new stake in shares of Pagaya Technologies during the third quarter worth about $2,183,000. 57.14% of the stock is owned by institutional investors and hedge funds.

Pagaya Technologies Company Profile

Pagaya Technologies Ltd., a product-focused technology company, deploys data science and proprietary artificial intelligence-powered technology for financial institutions and investors in the United States, Israel, the Cayman Islands, and internationally. The company develops and implements proprietary artificial intelligence technology and related software solutions to assist partners to originate loans and other assets.