Stock traders are buying a high volume of put options on Pagaya Technologies (NASDAQ:PGY)

Pagaya Technologies Ltd. (NASDAQ:PGY – Get Rating) recorded unusually large options trades on Tuesday. Equity investors bought 3,124 put options on the company. This represents an increase of approximately 45% from the average volume of 2,157 put options.

A Wall Street analyst gives his opinion

Separately, Moffett Nathanson assumed coverage of Pagaya Technologies shares in a Monday, September 12 report. They set a “market performance” rating and a price target of $12.00 on the stock.

Pagaya Technologies shares down 62.9%

The NASDAQ PGY traded at $4.40 at midday on Tuesday, hitting $2.59. The stock had a trading volume of 255,639 shares, compared to an average trading volume of 315,857. Pagaya Technologies has a 12-month low of $2.42 and a 12-month high of $34.50. The company has a debt ratio of 0.13, a quick ratio of 5.31 and a current ratio of 5.31. The stock’s 50-day moving average is $14.22.

Hedge funds weigh on Pagaya Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Jane Street Group LLC bought a new position in Pagaya Technologies in Q2 for a value of approximately $103,000. ExodusPoint Capital Management LP acquired a new equity stake in Pagaya Technologies in the second quarter worth approximately $113,000. Millennium Management LLC bought a new position in Pagaya Technologies during the second quarter for a value of approximately $301,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Pagaya Technologies in Q2 for $6,270,000. Finally, Whale Rock Capital Management LLC acquired a new stake in the shares of Pagaya Technologies in the 2nd quarter at a value of $48,660,000.

Company Profile Pagaya Technologies

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

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