Pagaya Technologies (NASDAQ:PGY) Trading 7.1% Higher - Should You Buy?

Pagaya Technologies Ltd. (NASDAQ:PGY - Get Free Report)'s share price shot up 7.1% during trading on Monday . The stock traded as high as $12.09 and last traded at $12.18. Approximately 362,362 shares were traded during trading, a decline of 79% from the average session volume of 1,692,548 shares. The stock had previously closed at $11.37.

Analysts Set New Price Targets

Several research firms have recently weighed in on PGY. UBS Group initiated coverage on shares of Pagaya Technologies in a research report on Friday, December 20th. They issued a "neutral" rating and a $11.00 target price for the company. Benchmark reissued a "buy" rating and issued a $25.00 price objective on shares of Pagaya Technologies in a report on Monday, March 17th. JMP Securities increased their target price on Pagaya Technologies from $25.00 to $26.00 and gave the stock a "market outperform" rating in a report on Friday, February 14th. B. Riley reiterated a "buy" rating and issued a $36.00 price target on shares of Pagaya Technologies in a report on Monday, March 17th. Finally, Canaccord Genuity Group reissued a "buy" rating and set a $25.00 price target on shares of Pagaya Technologies in a research report on Thursday, February 13th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $20.61.

Pagaya Technologies Trading Down 9.4 %

The firm has a market cap of $788.37 million, a P/E ratio of -1.90 and a beta of 5.98. 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 firm has a fifty day moving average of $11.51 and a 200-day moving average of $10.93.

Pagaya Technologies (NASDAQ:PGY - Get Free Report) last posted its 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). The company had revenue of $279.39 million during the quarter, compared to the consensus estimate of $264.28 million. Pagaya Technologies had a negative net margin of 39.20% and a positive return on equity of 0.82%. During the same quarter in the previous year, the business posted $0.24 earnings per share. Equities research analysts forecast that Pagaya Technologies Ltd. will post 0.88 earnings per share for the current year.

Insiders Place Their Bets

In related news, President Sanjiv Das sold 7,282 shares of the 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 represents a 7.40 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Tami Rosen sold 35,369 shares of the firm's 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 transaction, the insider now directly owns 38,181 shares in the company, valued at approximately $572,715. The trade was a 48.09 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 101,692 shares of company stock worth $1,205,379. Insiders own 49.56% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in PGY. R Squared Ltd acquired a new stake in Pagaya Technologies in the fourth quarter worth approximately $30,000. Pilgrim Partners Asia Pte Ltd bought a new stake in shares of Pagaya Technologies in the 4th quarter worth $43,000. Nisa Investment Advisors LLC bought a new stake in shares of Pagaya Technologies in the 4th quarter worth $57,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Pagaya Technologies in the fourth quarter valued at $67,000. Finally, Jefferies Financial Group Inc. bought a new position in Pagaya Technologies during the fourth quarter valued at about $93,000. 57.14% of the stock is currently owned by institutional investors.

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.