Pagaya Technologies (NASDAQ:PGY) Shares Set to Reverse Split on Friday, March 8th

Shares of Pagaya Technologies Ltd. (NASDAQ:PGYFree Report) are going to reverse split 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.

Pagaya Technologies Price Performance

NASDAQ:PGY traded down $0.10 during trading hours on Monday, reaching $1.43. 10,073,230 shares of the company traded hands, compared to its average volume of 8,919,859. The company has a debt-to-equity ratio of 0.49, a current ratio of 4.05 and a quick ratio of 4.63. The firm’s 50-day moving average is $1.25 and its 200-day moving average is $1.45. The stock has a market cap of $1.01 billion, a P/E ratio of -8.24 and a beta of 6.84. Pagaya Technologies has a 1-year low of $0.78 and a 1-year high of $2.83.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Jefferies Financial Group initiated coverage on Pagaya Technologies in a research report on Thursday, December 14th. They set a “buy” rating and a $2.50 price objective for the company. Canaccord Genuity Group reiterated a “buy” rating and set a $3.50 price target on shares of Pagaya Technologies in a report on Thursday, February 22nd. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Pagaya Technologies has an average rating of “Moderate Buy” and an average target price of $3.54.

View Our Latest Stock Report on Pagaya Technologies

Hedge Funds Weigh In On Pagaya Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the business. Nuveen Asset Management LLC acquired a new position in Pagaya Technologies during the 4th quarter worth approximately $7,713,000. Yarra Square Partners LP purchased a new stake in shares of Pagaya Technologies during the fourth quarter valued at approximately $4,099,000. JTC Employer Solutions Trustee Ltd lifted its position in shares of Pagaya Technologies by 143.8% during the third quarter. JTC Employer Solutions Trustee Ltd now owns 2,761,840 shares of the company’s stock worth $4,364,000 after purchasing an additional 1,629,156 shares in the last quarter. Capricorn Fund Managers Ltd boosted its stake in shares of Pagaya Technologies by 12.6% in the fourth quarter. Capricorn Fund Managers Ltd now owns 1,736,073 shares of the company’s stock valued at $2,396,000 after purchasing an additional 194,073 shares during the period. Finally, ARK Investment Management LLC grew its holdings in Pagaya Technologies by 58.8% during the 4th quarter. ARK Investment Management LLC now owns 1,489,697 shares of the company’s stock valued at $2,056,000 after purchasing an additional 551,520 shares in the last quarter. Institutional investors and hedge funds own 57.14% of the company’s stock.

About Pagaya Technologies

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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.

Further Reading

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