PLAYSTUDIOS, Inc. (NASDAQ:MYPS) Sees Large Increase in Short Interest

PLAYSTUDIOS, Inc. (NASDAQ:MYPS) saw a large growth in short interest in the month of January. As of January 15th, there was short interest totaling 1,945,654 shares, a growth of 19.6% from the December 31st total of 1,626,253 shares. Based on an average daily volume of 221,041 shares, the short-interest ratio is currently 8.8 days. Approximately 1.8% of the shares of the company are sold short. Approximately 1.8% of the shares of the company are sold short. Based on an average daily volume of 221,041 shares, the short-interest ratio is currently 8.8 days.

Analysts Set New Price Targets

MYPS has been the subject of several research analyst reports. Benchmark cut their price objective on PLAYSTUDIOS from $2.00 to $1.50 and set a “speculative buy” rating for the company in a research report on Tuesday, November 4th. Weiss Ratings reiterated a “sell (e+)” rating on shares of PLAYSTUDIOS in a report on Monday, December 29th. Wall Street Zen downgraded shares of PLAYSTUDIOS from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Finally, Zacks Research downgraded shares of PLAYSTUDIOS from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 6th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $2.00.

PLAYSTUDIOS Price Performance

NASDAQ:MYPS traded up $0.00 during mid-day trading on Wednesday, reaching $0.60. The company’s stock had a trading volume of 233,648 shares, compared to its average volume of 259,970. PLAYSTUDIOS has a twelve month low of $0.56 and a twelve month high of $1.90. The company’s fifty day simple moving average is $0.64 and its two-hundred day simple moving average is $0.84. The stock has a market cap of $75.60 million, a P/E ratio of -2.07 and a beta of 0.92.

PLAYSTUDIOS (NASDAQ:MYPS) last released its quarterly earnings data on Monday, November 3rd. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.05). PLAYSTUDIOS had a negative return on equity of 8.71% and a negative net margin of 15.10%.The firm had revenue of $57.65 million during the quarter, compared to analysts’ expectations of $58.77 million. Sell-side analysts expect that PLAYSTUDIOS will post -0.17 EPS for the current fiscal year.

Hedge Funds Weigh In On PLAYSTUDIOS

Institutional investors have recently added to or reduced their stakes in the company. NewEdge Advisors LLC increased its position in shares of PLAYSTUDIOS by 5,260.6% during the first quarter. NewEdge Advisors LLC now owns 134,015 shares of the company’s stock worth $170,000 after acquiring an additional 131,515 shares during the last quarter. Jane Street Group LLC acquired a new stake in PLAYSTUDIOS during the 1st quarter valued at approximately $203,000. Los Angeles Capital Management LLC increased its holdings in PLAYSTUDIOS by 16.5% during the 2nd quarter. Los Angeles Capital Management LLC now owns 174,479 shares of the company’s stock worth $229,000 after purchasing an additional 24,715 shares during the last quarter. Acadian Asset Management LLC raised its position in shares of PLAYSTUDIOS by 13.5% in the 2nd quarter. Acadian Asset Management LLC now owns 1,627,459 shares of the company’s stock valued at $2,127,000 after purchasing an additional 194,204 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of PLAYSTUDIOS by 75.8% during the second quarter. JPMorgan Chase & Co. now owns 420,165 shares of the company’s stock worth $550,000 after buying an additional 181,210 shares in the last quarter. Institutional investors and hedge funds own 37.52% of the company’s stock.

PLAYSTUDIOS Company Profile

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.