Pagaya Technologies (NASDAQ:PGY) Sees Unusually-High Trading Volume - What's Next?

Pagaya Technologies Ltd. (NASDAQ:PGY - Get Free Report) shares saw unusually-strong trading volume on Monday . Approximately 2,289,623 shares changed hands during trading, an increase of 80% from the previous session's volume of 1,274,971 shares.The stock last traded at $16.18 and had previously closed at $14.62.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on PGY shares. 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. Oppenheimer began coverage on Pagaya Technologies in a report on Tuesday, October 1st. They issued an "outperform" rating and a $12.00 price objective for the company. JMP Securities reaffirmed a "market outperform" rating and set a $25.00 price target on shares of Pagaya Technologies in a research report on Tuesday, September 3rd. B. Riley dropped their target price on shares of Pagaya Technologies from $48.00 to $36.00 and set a "buy" rating on the stock in a report on Monday, September 30th. Finally, Benchmark reiterated a "buy" rating and set a $21.00 price target on shares of Pagaya Technologies in a report on Wednesday, October 16th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $22.89.

Pagaya Technologies Trading Up 16.3 %

The firm's fifty day simple moving average is $11.71 and its 200 day simple moving average is $12.30. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.50 and a current ratio of 1.50. The stock has a market capitalization of $1.22 billion, a P/E ratio of -8.43 and a beta of 6.33.

Pagaya Technologies (NASDAQ:PGY - Get Free Report) last posted its quarterly earnings results on Friday, August 9th. The company reported ($0.15) EPS for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.11). The business had revenue of $250.34 million for the quarter, compared to analyst estimates of $239.16 million. Pagaya Technologies had a negative return on equity of 3.10% and a negative net margin of 14.58%. As a group, equities research analysts forecast that Pagaya Technologies Ltd. will post -0.09 EPS for the current fiscal year.

Insider Transactions at Pagaya Technologies

In other news, insider Yahav Yulzari bought 23,600 shares of the company's stock in a transaction on Monday, September 30th. The stock was purchased at an average cost of $10.52 per share, for a total transaction of $248,272.00. Following the completion of the transaction, the insider now owns 311,637 shares of the company's stock, valued at $3,278,421.24. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. In other Pagaya Technologies news, insider Yahav Yulzari purchased 23,600 shares of the company's stock in a transaction dated Monday, September 30th. The stock was purchased at an average price of $10.52 per share, with a total value of $248,272.00. Following the completion of the purchase, the insider now owns 311,637 shares of the company's stock, valued at approximately $3,278,421.24. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, President Sanjiv Das sold 10,683 shares of the business's stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $11.77, for a total transaction of $125,738.91. Following the completion of the sale, the president now directly owns 64,794 shares in the company, valued at approximately $762,625.38. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 36,045 shares of company stock worth $430,982. Corporate insiders own 19.70% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. nVerses Capital LLC acquired a new stake in Pagaya Technologies in the 2nd quarter valued at $74,000. SG Americas Securities LLC bought a new stake in Pagaya Technologies during the 2nd quarter worth approximately $101,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Pagaya Technologies in the second quarter worth approximately $166,000. The Manufacturers Life Insurance Company bought a new position in shares of Pagaya Technologies in the second quarter valued at approximately $187,000. Finally, Castle Hook Partners LP purchased a new position in shares of Pagaya Technologies during the first quarter valued at approximately $188,000. 57.14% of the stock is owned by institutional investors.

About Pagaya Technologies

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.

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