PLAYSTUDIOS, Inc. (NASDAQ:MYPS) Short Interest Update

PLAYSTUDIOS, Inc. (NASDAQ:MYPS) saw a large increase in short interest during the month of March. As of March 31st, there was short interest totaling 3,041,144 shares, an increase of 35.1% from the March 15th total of 2,250,285 shares. Currently, 2.8% of the shares of the stock are sold short. Based on an average trading volume of 382,922 shares, the short-interest ratio is currently 7.9 days.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Craig Hallum restated a “buy” rating and set a $1.00 target price on shares of PLAYSTUDIOS in a report on Tuesday, March 17th. Benchmark reiterated a “hold” rating on shares of PLAYSTUDIOS in a research report on Tuesday, March 17th. Weiss Ratings reissued a “sell (e+)” rating on shares of PLAYSTUDIOS in a research note on Friday, March 27th. Finally, Zacks Research upgraded PLAYSTUDIOS from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 10th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $1.25.

Institutional Investors Weigh In On PLAYSTUDIOS

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Orion Porfolio Solutions LLC purchased a new position in shares of PLAYSTUDIOS during the 3rd quarter worth $30,000. Franklin Resources Inc. acquired a new stake in PLAYSTUDIOS in the 3rd quarter valued at approximately $46,000. Verdad Advisers LP purchased a new stake in PLAYSTUDIOS in the fourth quarter valued at approximately $48,000. Deutsche Bank AG acquired a new position in PLAYSTUDIOS during the fourth quarter worth $61,000. Finally, Wells Fargo & Company MN lifted its stake in PLAYSTUDIOS by 46.2% during the fourth quarter. Wells Fargo & Company MN now owns 100,224 shares of the company’s stock worth $65,000 after purchasing an additional 31,685 shares in the last quarter. Hedge funds and other institutional investors own 37.52% of the company’s stock.

PLAYSTUDIOS Trading Down 2.3%

MYPS stock traded down $0.01 during trading on Friday, reaching $0.46. 72,197 shares of the stock were exchanged, compared to its average volume of 307,793. The firm has a market capitalization of $58.87 million, a price-to-earnings ratio of -2.09 and a beta of 0.95. The business has a 50 day moving average price of $0.48 and a 200-day moving average price of $0.65. PLAYSTUDIOS has a 1 year low of $0.41 and a 1 year high of $1.69.

PLAYSTUDIOS (NASDAQ:MYPS) last posted its quarterly earnings results on Monday, March 16th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.05). The firm had revenue of $55.40 million during the quarter, compared to analysts’ expectations of $56.23 million. PLAYSTUDIOS had a negative net margin of 12.18% and a negative return on equity of 10.75%. On average, research analysts anticipate that PLAYSTUDIOS will post -0.17 EPS for the current year.

About PLAYSTUDIOS

PLAYSTUDIOS, traded on NASDAQ as MYPS, is a digital entertainment company that develops free-to-play mobile and social casino games. Its flagship titles include POP! Slots, myVEGAS Slots and my KONAMI Slots, which combine classic casino mechanics with branded content and a proprietary loyalty program. Through the MyPLAY system, players earn virtual currency and loyalty points redeemable for real-world rewards, including hotel stays, dining and entertainment vouchers at partner venues.

Founded in 2011 and headquartered in Las Vegas, Nevada, PLAYSTUDIOS was co-founded by industry veteran Andrew Pascal, who serves as its Chief Executive Officer.