Pagaya Technologies (NASDAQ:PGY) Shares Gap Down to $11.03

Pagaya Technologies Ltd. (NASDAQ:PGYGet Rating) shares gapped down before the market opened on Friday . The stock had previously closed at $11.03, but opened at $10.42. Pagaya Technologies shares last traded at $10.80, with a volume of 303 shares changing hands.

Analysts Set New Price Targets

Separately, Moffett Nathanson initiated coverage on Pagaya Technologies in a research note on Monday, September 12th. They set a “market perform” rating and a $12.00 price objective for the company.

Pagaya Technologies Stock Performance

The company has a debt-to-equity ratio of 0.13, a current ratio of 5.31 and a quick ratio of 5.31. The business has a 50-day moving average of $14.14.

Hedge Funds Weigh In On Pagaya Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in PGY. Jane Street Group LLC acquired a new position in Pagaya Technologies during the 2nd quarter worth approximately $103,000. ExodusPoint Capital Management LP acquired a new stake in shares of Pagaya Technologies in the 2nd quarter worth approximately $113,000. Millennium Management LLC acquired a new stake in shares of Pagaya Technologies in the 2nd quarter worth approximately $301,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Pagaya Technologies in the 2nd quarter worth approximately $6,270,000. Finally, Whale Rock Capital Management LLC acquired a new stake in shares of Pagaya Technologies in the 2nd quarter worth approximately $48,660,000.

About Pagaya Technologies

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Pagaya Technologies Ltd. operates as a financial technology company in Israel, the United States, and the Cayman Islands. It develops and implements proprietary artificial intelligence technology and related software solutions to assist partners to originate loans and other assets. Its partners include high-growth financial technology companies, incumbent financial institutions, auto finance providers, and brokers.

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