Pagaya Technologies Ltd (NASDAQ: PGY)’s Potential for Significant Price Increase in the Near Future

In the last trading session, 4.34 million Pagaya Technologies Ltd (NASDAQ:PGY) shares changed hands as the company’s beta touched 6.82. With the company’s per share price at $1.10 changed hands at $0.0 or 0.00% during last session, the market valuation stood at $784.80M. PGY’s last price was a discount, traded about -157.27% off its 52-week high of $2.83. The share price had its 52-week low at $0.78, which suggests the last value was 29.09% up since then. When we look at Pagaya Technologies Ltd’s average trading volume, we note the 10-day average is 6.5 million shares, with the 3-month average coming to 0.53.

Pagaya Technologies Ltd (NASDAQ:PGY) trade information

With action -0.90%, the performance over the past five days has been red. The company’s shares are showing year-to-date downside of -20.29%, with the 5-day performance at -0.90% in the red. However, in the 30-day time frame, Pagaya Technologies Ltd (NASDAQ:PGY) is -3.51% down. Looking at the short shares, we see there were 2.84 million shares sold at short interest cover period of 0.34 days.

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Pagaya Technologies Ltd (PGY) estimates and forecasts

Data shows that the Pagaya Technologies Ltd share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -52.38% over the past 6 months, a 128.57% in annual growth rate that is considerably higher than the industry average of 8.60%.

Pagaya Technologies Ltd (NASDAQ:PGY)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 25.73% of Pagaya Technologies Ltd shares while 42.78% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 57.60%. There are 42.78% institutions holding the Pagaya Technologies Ltd stock share, with Viola Ventures V.c. Management 4 Ltd. the top institutional holder. As of Jun 29, 2023, the company held 18.37% of the shares, roughly 98.11 million PGY shares worth $137.35 million.

Clal Insurance Enterprises Holdings Ltd holds the second largest percentage of outstanding shares, with 8.00% or 42.72 million shares worth $59.8 million as of Jun 29, 2023.

Among Mutual Funds, the top two as of Sep 29, 2023 were ARK ETF Tr-ARK Israel Innovative Technology ETF and Global X Fds-Global X FinTech Thematic ETF. With 0.94 million shares estimated at $1.48 million under it, the former controlled 0.18% of total outstanding shares. On the other hand, Global X Fds-Global X FinTech Thematic ETF held about 0.11% of the shares, roughly 0.6 million shares worth around $0.95 million.

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