Playtech (LON:PTEC) Shares Up 9.2% – Here’s What Happened

Playtech plc (LON:PTEC) shares shot up 9.2% on Wednesday . The stock traded as high as GBX 308 and last traded at GBX 298. 2,091,662 shares changed hands during trading, an increase of 141% from the average session volume of 868,488 shares. The stock had previously closed at GBX 273.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PTEC. Deutsche Bank Aktiengesellschaft cut their price target on Playtech from GBX 433 to GBX 390 and set a “buy” rating on the stock in a report on Friday, January 23rd. Jefferies Financial Group lowered Playtech to a “hold” rating and dropped their target price for the stock from GBX 405 to GBX 240 in a research report on Tuesday, November 25th.

Playtech Stock Down 0.7%

The business’s 50 day simple moving average is GBX 278.37 and its 200-day simple moving average is GBX 328.81. The company has a debt-to-equity ratio of 40.06, a quick ratio of 1.09 and a current ratio of 1.55. The company has a market cap of £836.11 million, a price-to-earnings ratio of 0.51, a price-to-earnings-growth ratio of 1.28 and a beta of 1.26.

Playtech Company Profile

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.