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

PLAYSTUDIOS, Inc. (NASDAQ:MYPS) was the target of a large increase in short interest in the month of July. As of July 15th, there was short interest totaling 493,460 shares, an increase of 236.3% from the June 30th total of 146,734 shares. Approximately 0.5% of the shares of the company are sold short. Based on an average daily volume of 974,675 shares, the days-to-cover ratio is presently 0.5 days.

PLAYSTUDIOS Price Performance

Shares of NASDAQ:MYPS traded down $0.01 during midday trading on Monday, hitting $0.61. The company had a trading volume of 181,040 shares, compared to its average volume of 741,594. The company has a market cap of $78.18 million, a price-to-earnings ratio of -2.18 and a beta of 0.96. PLAYSTUDIOS has a 12-month low of $0.40 and a 12-month high of $1.25. The company has a fifty day moving average of $0.59 and a two-hundred day moving average of $0.53.

PLAYSTUDIOS (NASDAQ:MYPS) last released its earnings results on Monday, May 11th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.03). PLAYSTUDIOS had a negative net margin of 15.79% and a negative return on equity of 14.38%. The company had revenue of $58.41 million for the quarter, compared to analysts’ expectations of $52.69 million.

Wall Street Analyst Weigh In

MYPS has been the subject of several research reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of PLAYSTUDIOS in a research report on Wednesday, June 24th. Wall Street Zen raised shares of PLAYSTUDIOS from a “sell” rating to a “hold” rating in a report on Saturday, July 4th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $1.25.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Orion Porfolio Solutions LLC bought a new position in shares of PLAYSTUDIOS during the 3rd quarter valued at approximately $30,000. Franklin Resources Inc. bought a new stake in PLAYSTUDIOS during the 3rd quarter worth approximately $46,000. Verdad Advisers LP bought a new stake in PLAYSTUDIOS during the 4th quarter worth approximately $48,000. Deutsche Bank AG purchased a new position in PLAYSTUDIOS during the fourth quarter valued at approximately $61,000. Finally, Wells Fargo & Company MN lifted its holdings in PLAYSTUDIOS by 46.2% during the fourth quarter. Wells Fargo & Company MN now owns 100,224 shares of the company’s stock valued at $65,000 after purchasing an additional 31,685 shares in the last quarter. 37.52% of the stock is owned by hedge funds and other institutional investors.

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.