Playtech (LON:PTEC) Stock Price Up 9.7% – Here’s What Happened

Playtech plc (LON:PTEC)’s share price traded up 9.7% during trading on Tuesday . The company traded as high as GBX 300 and last traded at GBX 299.50. 1,027,069 shares traded hands during trading, an increase of 27% from the average session volume of 809,344 shares. The stock had previously closed at GBX 273.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Jefferies Financial Group downgraded Playtech to a “hold” rating and cut their target price for the stock from GBX 405 to GBX 240 in a research note on Tuesday, November 25th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Playtech from GBX 433 to GBX 390 and set a “buy” rating for the company in a research report on Friday, January 23rd.

Playtech Stock Performance

The company has a quick ratio of 1.09, a current ratio of 1.55 and a debt-to-equity ratio of 40.06. The firm has a 50-day simple moving average of GBX 277.15 and a 200 day simple moving average of GBX 329.02. The company has a market cap of £845.29 million, a price-to-earnings ratio of 0.51, a price-to-earnings-growth ratio of 1.28 and a beta of 1.26.

About Playtech

Playtech plc, a technology company, provides gambling software, services, content, and platform technologies worldwide. The company offers technologies across various product verticals, including live casino, sports, bingo, virtual sports, and poker. It also owns the intellectual property rights and licenses the software; provides digital marketing and advertising, consulting and online technical support, data mining processing, turnkey, live game, and video stream services; and operates betting shops.