Pagaya Technologies (NASDAQ:PGY) Reaches New 1-Year Low at $8.84

Pagaya Technologies Ltd. (NASDAQ:PGY)’s share price hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $8.84 and last traded at $8.90, with a volume of 691767 shares traded. The stock had previously closed at $9.45.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Wedbush decreased their price target on Pagaya Technologies from $18.00 to $11.50 and set a “neutral” rating for the company in a report on Friday, March 15th. Canaccord Genuity Group reiterated a “buy” rating and set a $42.00 price target on shares of Pagaya Technologies in a report on Thursday, February 22nd. Finally, JMP Securities decreased their price target on Pagaya Technologies from $30.00 to $25.00 and set a “market outperform” rating for the company in a report on Monday, April 8th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Pagaya Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $38.08.

Pagaya Technologies Price Performance

The stock has a market cap of $545.62 million, a P/E ratio of -4.28 and a beta of 6.67. The company has a debt-to-equity ratio of 0.49, a quick ratio of 4.05 and a current ratio of 4.05. The business has a 50 day simple moving average of $12.63 and a 200-day simple moving average of $14.43.

Insider Buying and Selling at Pagaya Technologies

In other news, CEO Gal Krubiner purchased 33,600 shares of the company’s stock in a transaction dated Thursday, April 4th. The shares were purchased at an average price of $10.36 per share, with a total value of $348,096.00. Following the transaction, the chief executive officer now directly owns 523,076 shares of the company’s stock, valued at $5,419,067.36. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CEO Gal Krubiner purchased 33,600 shares of the company’s stock in a transaction dated Thursday, April 4th. The shares were purchased at an average price of $10.36 per share, with a total value of $348,096.00. Following the transaction, the chief executive officer now directly owns 523,076 shares of the company’s stock, valued at $5,419,067.36. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Tami Rosen purchased 10,000 shares of the company’s stock in a transaction dated Friday, April 5th. The shares were purchased at an average cost of $10.47 per share, for a total transaction of $104,700.00. Following the transaction, the insider now directly owns 28,818 shares in the company, valued at $301,724.46. The disclosure for this purchase can be found here. Insiders acquired 194,807 shares of company stock worth $2,012,373 in the last quarter.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. MBE Wealth Management LLC purchased a new position in shares of Pagaya Technologies during the 4th quarter valued at $31,000. Pathstone Family Office LLC purchased a new stake in Pagaya Technologies during the 3rd quarter worth about $32,000. Acadian Asset Management LLC purchased a new stake in Pagaya Technologies during the 3rd quarter worth about $38,000. Fermata Advisors LLC purchased a new stake in Pagaya Technologies during the 3rd quarter worth about $38,000. Finally, Deuterium Capital Management LLC purchased a new stake in Pagaya Technologies during the 3rd quarter worth about $40,000. Hedge funds and other institutional investors own 57.14% of the company’s stock.

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.