Priority Technology (NASDAQ:PRTH) Upgraded at Wall Street Zen

Priority Technology (NASDAQ:PRTH) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Saturday.

A number of other analysts also recently commented on the stock. Zacks Research upgraded shares of Priority Technology from a “strong sell” rating to a “hold” rating in a report on Wednesday, January 7th. Alliance Global Partners restated a “buy” rating on shares of Priority Technology in a research report on Thursday, November 6th. Keefe, Bruyette & Woods downgraded Priority Technology from a “moderate buy” rating to a “hold” rating and cut their price objective for the company from $9.00 to $6.00 in a research report on Tuesday, November 11th. Weiss Ratings reissued a “hold (c)” rating on shares of Priority Technology in a research note on Monday, December 29th. Finally, iA Financial set a $11.00 target price on Priority Technology in a research report on Thursday, November 6th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $8.50.

Priority Technology Price Performance

Shares of PRTH stock opened at $5.55 on Friday. The stock has a 50-day simple moving average of $5.65 and a 200 day simple moving average of $6.41. The stock has a market capitalization of $454.38 million, a P/E ratio of 10.47 and a beta of 1.40. Priority Technology has a fifty-two week low of $4.44 and a fifty-two week high of $10.92.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of PRTH. Raymond James Financial Inc. acquired a new position in Priority Technology during the second quarter valued at $29,000. BNP Paribas Financial Markets grew its stake in Priority Technology by 57.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 5,115 shares of the company’s stock valued at $35,000 after acquiring an additional 1,863 shares in the last quarter. Strs Ohio acquired a new position in shares of Priority Technology in the 1st quarter valued at about $46,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Priority Technology in the second quarter worth approximately $82,000. Finally, Invesco Ltd. acquired a new stake in shares of Priority Technology during the fourth quarter worth approximately $58,000. Hedge funds and other institutional investors own 11.52% of the company’s stock.

About Priority Technology

Priority Technology Acquisition Corp is a special purpose acquisition company formed to effect a merger, capital stock exchange, asset acquisition, stock purchase, recapitalization or similar business combination with one or more businesses in the technology sector. As a blank-check company, it does not conduct any operations of its own and holds the proceeds from its initial public offering in a trust account pending the identification and completion of a business combination.

The company’s management team is focused on evaluating target businesses that offer scalable technology products or services, including software, digital platforms and related infrastructure.