PLAYSTUDIOS, Inc. (NASDAQ:MYPS) Short Interest Up 14.7% in January

PLAYSTUDIOS, Inc. (NASDAQ:MYPS - Get Free Report) was the target of a significant growth in short interest in January. As of January 31st, there was short interest totalling 582,200 shares, a growth of 14.7% from the January 15th total of 507,800 shares. Based on an average daily trading volume, of 220,500 shares, the days-to-cover ratio is currently 2.6 days. Currently, 0.7% of the shares of the stock are short sold.

Institutional Investors Weigh In On PLAYSTUDIOS

Several hedge funds have recently modified their holdings of the stock. Proficio Capital Partners LLC purchased a new stake in PLAYSTUDIOS in the 4th quarter worth about $26,000. Tower Research Capital LLC TRC lifted its stake in PLAYSTUDIOS by 248.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 15,760 shares of the company's stock worth $29,000 after acquiring an additional 11,237 shares in the last quarter. O Shaughnessy Asset Management LLC purchased a new stake in PLAYSTUDIOS in the 4th quarter worth about $33,000. XTX Topco Ltd purchased a new stake in PLAYSTUDIOS in the 4th quarter worth about $34,000. Finally, Virtu Financial LLC purchased a new stake in PLAYSTUDIOS in the 3rd quarter worth about $32,000. 37.52% of the stock is owned by hedge funds and other institutional investors.

PLAYSTUDIOS Stock Up 1.1 %

Shares of NASDAQ MYPS traded up $0.02 during mid-day trading on Thursday, hitting $1.76. 77,570 shares of the company traded hands, compared to its average volume of 150,369. PLAYSTUDIOS has a 1 year low of $1.20 and a 1 year high of $3.04. The stock has a market capitalization of $219.44 million, a price-to-earnings ratio of -9.26, a PEG ratio of 17.90 and a beta of 0.80. The business has a 50 day moving average of $1.84 and a two-hundred day moving average of $1.69.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on MYPS. JPMorgan Chase & Co. reaffirmed an "underweight" rating on shares of PLAYSTUDIOS in a research note on Wednesday, December 18th. Macquarie cut PLAYSTUDIOS from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $3.63.

About PLAYSTUDIOS

PLAYSTUDIOS, Inc develops and publishes free-to-play casual games for mobile and social platforms in the United States and internationally. The company's game portfolio includes a diverse range of titles comprising social casino, card, puzzle, and adventure games. It also offers POP! Slots, myVEGAS Slots, my KONAMI Slots, MGM Slots Live, myVEGAS Blackjack, myVEGAS Bingo, Tetris, Solitaire, Spider Solitaire, Jumbline 2, Sudoku, and Mahjong games.