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Pagaya Technologies Ltd. (NASDAQ: PGY): Getting A Free Pass?

Pagaya Technologies Ltd. (NASDAQ:PGY) shares, rose in value on Thursday, 08/04/22, with the stock price down by -34.24% to the previous day’s close as strong demand from buyers drove the stock to $17.69.

Actively observing the price movement in the last trading, the stock closed the session at $26.90, falling within a range of $16.71 and $26.50. Referring to stock’s 52-week performance, its high was $34.50, and the low was $2.42. On the whole, PGY has fluctuated by 382.02% over the past month.

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Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days.

The stock’s technical analysis shows that the PEG ratio is about 0, with the price of PGY currently trading nearly 54.93% and 91.12% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 55.45, while the 7-day volatility ratio is showing 47.65% which for the 30-day chart, stands at 44.40%. Furthermore, Pagaya Technologies Ltd. (PGY)’s average true range (ATR) is 4.94.

Data on historical trading for Pagaya Technologies Ltd. (NASDAQ:PGY) indicates that the trading volumes over the past 10 days have averaged 22.24 million and over the past 3 months, they’ve averaged 4.42 million. According to company’s latest data on outstanding shares, there are 35.94 million shares outstanding.

Pagaya Technologies Ltd.’s shares belong to company insiders and institutional investors own 22.80% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 0.18 million shares as on Jul 14, 2022, resulting in a short ratio of 1.09. The stock has risen by 78.15% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the PGY stock heading into the next quarter.

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