Pagaya Technologies Ltd (NASDAQ: PGY) Drops -237.57% From Highs, Now What?

During the last session, Pagaya Technologies Ltd (NASDAQ:PGY)’s traded shares were 1.4 million, with the beta value of the company hitting 6.70. At the end of the trading day, the stock’s price was $10.06, reflecting an intraday gain of 6.12% or $0.58. The 52-week high for the PGY share is $33.96, that puts it down -237.57 from that peak though still a striking 11.53% gain since the share price plummeted to a 52-week low of $8.90. The company’s market capitalization is $709.03M, and the average intraday trading volume over the past 10 days was 1.2 million shares, and the average trade volume was 1.26 million shares over the past three months.

Pagaya Technologies Ltd (NASDAQ:PGY) trade information

Pagaya Technologies Ltd (PGY) registered a 6.12% upside in the last session and has traded in the red over the past 5 sessions. The stock spiked 6.12% in intraday trading to $10.06, hitting a weekly high. The stock’s 5-day price performance is -4.55%, and it has moved by -41.38% in 30 days. Based on these gigs, the overall price performance for the year is -17.81%. The short interest in Pagaya Technologies Ltd (NASDAQ:PGY) is 0.87 million shares and it means that shorts have 0.47 day(s) to cover.

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Pagaya Technologies Ltd (PGY) estimates and forecasts

Statistics show that Pagaya Technologies Ltd has outperformed its competitors in share price, compared to the industry in which it operates. Pagaya Technologies Ltd (PGY) shares have gone down -44.85% during the last six months, with a year-to-date growth rate more than the industry average at 295.83% against 17.80. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to grow 96.30% this quarter and then jump 89.60% in the quarter after that. In the rating firms’ projections, revenue will increase 26.30% compared to the previous financial year.

Revenue for the current quarter is expected to be $225.96 million as predicted by 6 analyst(s). Meanwhile, a consensus of 6 analyst(s) estimates revenue growth to $236.97 million by the end of Jun 2024. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $186.64 million and $195.61 million respectively. In this case, analysts expect current quarter sales to grow by 21.10% and then jump by 21.10% in the coming quarter.

While earnings are projected to return 121.68% in 2024.

PGY Dividends

Pagaya Technologies Ltd is due to release its next quarterly earnings in May. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

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

Pagaya Technologies Ltd insiders own 23.32% of total outstanding shares while institutional holders control 37.51%, with the float percentage being 48.92%. Viola Ventures V.c. Management 4 Ltd. is the largest shareholder of the company, while 96 institutions own stock in it. As of Jun 29, 2023, the company held over 98.11 million shares (or 18.37% of all shares), a total value of $137.35 million in shares.

The next largest institutional holding, with 42.72 million shares, is of Clal Insurance Enterprises Holdings Ltd’s that is approximately 8.00% of outstanding shares. At the market price on Jun 29, 2023, these shares were valued at $59.8 million.

Also, the Mutual Funds coming in first place with the largest holdings of Pagaya Technologies Ltd (PGY) shares are ARK ETF Tr-ARK Israel Innovative Technology ETF and Global X Fds-Global X FinTech Thematic ETF. Data provided on Sep 29, 2023 indicates that ARK ETF Tr-ARK Israel Innovative Technology ETF owns about 0.94 million shares. This amounts to just over 0.18 percent of the company’s overall shares, with a $1.48 million market value. The same data shows that the other fund manager holds slightly less at 0.6 million, or about 0.11% of the stock, which is worth about $0.95 million.