Playtech (LON:PTEC) Trading Up 10.2% – Here’s Why

Playtech plc (LON:PTEC) shares rose 10.2% during trading on Wednesday . The company traded as high as GBX 354.50 and last traded at GBX 351.50. Approximately 1,682,517 shares traded hands during trading, a decline of 63% from the average daily volume of 4,554,998 shares. The stock had previously closed at GBX 319.

Analysts Set New Price Targets

Several research firms recently commented on PTEC. Jefferies Financial Group lowered shares of Playtech to a “hold” rating and decreased their price objective for the stock from GBX 405 to GBX 240 in a research report on Tuesday, November 25th. Deutsche Bank Aktiengesellschaft cut their target price 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 Trading Down 2.8%

The business has a 50 day simple moving average of GBX 286.22 and a two-hundred day simple moving average of GBX 323.19. The company has a current ratio of 1.55, a quick ratio of 1.09 and a debt-to-equity ratio of 40.06. The company has a market cap of £937.80 million, a PE ratio of 0.57, 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.