Pagaya Technologies (NASDAQ:PGY) Shares Gap Down - What's Next?

Pagaya Technologies Ltd. (NASDAQ:PGY - Get Free Report)'s stock price gapped down prior to trading on Monday . The stock had previously closed at $10.66, but opened at $10.08. Pagaya Technologies shares last traded at $10.07, with a volume of 281,497 shares changing hands.

Wall Street Analysts Forecast Growth

PGY has been the subject of several recent analyst reports. UBS Group initiated coverage on shares of Pagaya Technologies in a research note on Friday, December 20th. They issued a "neutral" rating and a $11.00 target price for the company. JMP Securities boosted their target price on Pagaya Technologies from $25.00 to $26.00 and gave the stock a "market outperform" rating in a research note on Friday, February 14th. Benchmark reiterated a "buy" rating and issued a $25.00 price target on shares of Pagaya Technologies in a research note on Monday, March 17th. Canaccord Genuity Group restated a "buy" rating and set a $25.00 price target on shares of Pagaya Technologies in a research note on Thursday, February 13th. Finally, Citigroup raised shares of Pagaya Technologies from a "neutral" rating to a "buy" rating and raised their price target for the company from $13.00 to $14.50 in a research note on Friday, February 7th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $20.61.

Pagaya Technologies Price Performance

The company's 50-day simple moving average is $11.66 and its 200 day simple moving average is $10.87. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.17 and a current ratio of 1.17. The company has a market cap of $722.86 million, a PE ratio of -1.75 and a beta of 5.98.

Pagaya Technologies (NASDAQ:PGY - Get Free Report) last issued its quarterly earnings results on Thursday, February 13th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.28 by ($0.32). Pagaya Technologies had a positive return on equity of 0.82% and a negative net margin of 39.20%. The firm had revenue of $279.39 million during the quarter, compared to analysts' expectations of $264.28 million. During the same quarter in the prior year, the firm earned $0.24 EPS. On average, sell-side analysts predict that Pagaya Technologies Ltd. will post 0.88 earnings per share for the current fiscal year.

Insider Transactions at Pagaya Technologies

In other news, insider Tami Rosen sold 35,369 shares of the stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $15.00, for a total transaction of $530,535.00. Following the completion of the sale, the insider now owns 38,181 shares in the company, valued at approximately $572,715. This represents a 48.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, President Sanjiv Das sold 7,282 shares of the business's stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $8.85, for a total value of $64,445.70. Following the completion of the transaction, the president now owns 91,163 shares in the company, valued at $806,792.55. This trade represents a 7.40 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 52,497 shares of company stock worth $714,905. Corporate insiders own 49.56% of the company's stock.

Hedge Funds Weigh In On Pagaya Technologies

Several institutional investors have recently bought and sold shares of PGY. R Squared Ltd purchased a new position in Pagaya Technologies during the fourth quarter worth about $30,000. Pilgrim Partners Asia Pte Ltd purchased a new position in Pagaya Technologies in the fourth quarter worth $43,000. Nisa Investment Advisors LLC acquired a new position in shares of Pagaya Technologies during the 4th quarter worth $57,000. KLP Kapitalforvaltning AS purchased a new position in shares of Pagaya Technologies in the 4th quarter valued at about $67,000. Finally, BNP Paribas Financial Markets lifted its stake in shares of Pagaya Technologies by 48.4% in the third quarter. BNP Paribas Financial Markets now owns 9,757 shares of the company's stock valued at $103,000 after purchasing an additional 3,181 shares during the period. 57.14% of the stock is owned by institutional investors and hedge funds.

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.