Pagaya Technologies Ltd (NASDAQ:PGY) shares, rose in value, with the stock price up by 2.68% to the previous day’s close as strong demand from buyers drove the stock to $10.33.
Actively observing the price movement in the last trading, the stock closed the session at $10.06. The value of beta (5-year monthly) was 6.88. Referring to stock’s 52-week performance, its high was $33.96, and the low was $8.90. On the whole, PGY has fluctuated by -35.76% over the past month.
As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.04, which is expected to increase to $0.12 for fiscal year -$0.04 and then to about $0.84 by fiscal year 2025. Data indicates that the EPS growth is expected to be 98.10% in 2025, while the next year’s EPS growth is forecast to be 2,200.00%.
Analysts have estimated the company’s revenue for the quarter at $225.96 million, with a low estimate of $211.6 million and a high estimate of $232.3 million. According to the average forecast, sales growth in current quarter could jump up 21.10%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $976.24 million, representing an increase of 26.30% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that PGY’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium term indicators have put the stock in the category of 100% Sell while long term indicators on average have been pointing out that it is a 100% Sell.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of PGY currently trading nearly -14.57% and -26.09% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 39.14, while the 7-day volatility ratio is showing 7.25% which for the 30-day chart, stands at 10.13%. Furthermore, Pagaya Technologies Ltd (PGY)’s beta value is 6.69, and its average true range (ATR) is 1.14.
A comparison of Pagaya Technologies Ltd (PGY) with its peers suggests the former has fared considerably weaker in the market. PGY showed an intraday change of 2.68% in last session, and over the past year, it shrunk by -13.91%%.
Data on historical trading for Pagaya Technologies Ltd (NASDAQ:PGY) indicates that the trading volumes over the past 10 days have averaged 1.38 million and over the past 3 months, they’ve averaged 1.27 million. According to company’s latest data on outstanding shares, there are 49.39 million shares outstanding.
Nearly 60.69% of Pagaya Technologies Ltd’s shares belong to company insiders and institutional investors own 14.54% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 0.87 million shares as on Mar 15, 2024, resulting in a short ratio of 0.47. According to the data, the short interest in Pagaya Technologies Ltd (PGY) stood at 1.38% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 0.31 million. The stock has fallen by -37.62% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the PGY stock heading into the next quarter.
