PLAYSTUDIOS, Inc. (NASDAQ:MYPS) Short Interest Down 23.0% in February

PLAYSTUDIOS, Inc. (NASDAQ:MYPS) saw a significant drop in short interest in the month of February. As of February 27th, there was short interest totaling 1,974,368 shares, a drop of 23.0% from the February 12th total of 2,563,096 shares. Approximately 1.8% of the company’s stock are short sold. Based on an average daily volume of 245,221 shares, the short-interest ratio is currently 8.1 days. Based on an average daily volume of 245,221 shares, the short-interest ratio is currently 8.1 days. Approximately 1.8% of the company’s stock are short sold.

PLAYSTUDIOS Trading Down 1.3%

MYPS traded down $0.01 on Friday, hitting $0.51. 280,208 shares of the company’s stock were exchanged, compared to its average volume of 258,962. PLAYSTUDIOS has a twelve month low of $0.43 and a twelve month high of $1.69. The firm has a market cap of $64.31 million, a PE ratio of -1.76 and a beta of 0.95. The stock has a fifty day moving average of $0.55 and a two-hundred day moving average of $0.73.

Institutional Trading of PLAYSTUDIOS

Hedge funds have recently bought and sold shares of the company. Orion Porfolio Solutions LLC bought a new stake in PLAYSTUDIOS in the 3rd quarter valued at about $30,000. Quadrature Capital Ltd acquired a new stake in shares of PLAYSTUDIOS in the second quarter valued at approximately $49,000. Franklin Resources Inc. bought a new stake in shares of PLAYSTUDIOS during the third quarter valued at approximately $46,000. Verdad Advisers LP bought a new stake in shares of PLAYSTUDIOS during the fourth quarter valued at approximately $48,000. Finally, Williams & Novak LLC boosted its position in shares of PLAYSTUDIOS by 68.7% during the third quarter. Williams & Novak LLC now owns 82,450 shares of the company’s stock worth $79,000 after buying an additional 33,590 shares during the period. 37.52% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on MYPS. Wall Street Zen downgraded shares of PLAYSTUDIOS from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. Zacks Research raised shares of PLAYSTUDIOS from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 10th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of PLAYSTUDIOS in a research report on Monday, December 29th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $2.25.

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.