Investors Purchase High Volume of Put Options on Pagaya Technologies (NASDAQ:PGY)

Pagaya Technologies Ltd. (NASDAQ:PGYGet Rating) was the target of some unusual options trading on Tuesday. Stock traders purchased 3,124 put options on the stock. This is an increase of 45% compared to the average volume of 2,157 put options.

Pagaya Technologies Stock Down 67.2 %

NASDAQ PGY opened at $2.29 on Wednesday. Pagaya Technologies has a 12 month low of $2.25 and a 12 month high of $34.50. The company has a current ratio of 5.31, a quick ratio of 5.31 and a debt-to-equity ratio of 0.13. The firm has a fifty day moving average of $14.20.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Pagaya Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Jane Street Group LLC acquired a new position in Pagaya Technologies during the second quarter valued at approximately $103,000. ExodusPoint Capital Management LP acquired a new position in Pagaya Technologies during the second quarter valued at approximately $113,000. Millennium Management LLC acquired a new position in shares of Pagaya Technologies during the second quarter worth $301,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Pagaya Technologies during the second quarter worth $6,270,000. Finally, Whale Rock Capital Management LLC acquired a new position in shares of Pagaya Technologies during the second quarter worth $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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