PLAYSTUDIOS, Inc. (NASDAQ:MYPS) Experiences Notable Rise in Short Interest

PLAYSTUDIOS, Inc. (NASDAQ:MYPS - Get Free Report) has experienced a notable surge in short interest during January. As of January 31st, the total short interest reached 582,200 shares, representing a growth of 14.7% from the prior total of 507,800 shares recorded on January 15th. Given the average daily trading volume of 220,500 shares, the current days-to-cover ratio is 2.6 days. At present, approximately 0.7% of the company's shares are sold short.

Current Trading Performance of PLAYSTUDIOS

On Friday, shares of MYPS saw a decline of 1.7%, dropping by $0.03 to close at $1.78. The trading volume for the day stood at 74,879 shares, which is lower than the average volume of 147,227 shares. The fifty-day simple moving average for the stock is $1.88, while the 200-day simple moving average is $1.69. PLAYSTUDIOS has recorded a 52-week low of $1.20 and a 52-week high of $3.04. The company's market capitalization currently stands at $221.93 million, with a PE ratio of -9.37 and a P/E/G ratio of 17.70, alongside a beta of 0.80.

Recent Insider Transactions at PLAYSTUDIOS

In related insider activity, CFO Scott Edward Peterson sold 25,000 shares of the company on November 18th, at an average selling price of $1.74, resulting in a total sale value of $43,500. Following this transaction, Peterson now holds 558,998 shares of PLAYSTUDIOS, worth approximately $972,656.52, reflecting a decrease of 4.28% in his ownership stake. This information was disclosed in a filing with the Securities and Exchange Commission. Currently, insiders hold 14.29% of the stock.

Institutional Investment Trends for PLAYSTUDIOS

Several large investors have made significant changes to their holdings in PLAYSTUDIOS recently. Proficio Capital Partners LLC acquired a new stake during the fourth quarter, valued at approximately $26,000. Tower Research Capital LLC significantly increased its stake by 248.4% during the same quarter, now owning 15,760 shares valued at $29,000 after purchasing an additional 11,237 shares. Other investors such as Virtu Financial LLC, O Shaughnessy Asset Management LLC, and XTX Topco Ltd also made new acquisitions in the fourth quarter, with valuations around $32,000 to $34,000. Collectively, hedge funds and institutional investors hold around 37.52% of the company’s stock.

Analyst Opinions on PLAYSTUDIOS

PLAYSTUDIOS has attracted attention from several analysts, leading to mixed opinions. Macquarie downgraded the stock from a "strong-buy" to a "hold" rating in a report issued on January 22nd. Meanwhile, JPMorgan Chase & Co. maintained an "underweight" rating in a separate analysis from December 18th. Overall, one equity analyst rates the stock as a sell, three analysts suggest holding, and two analysts recommend buying. According to data from MarketBeat, PLAYSTUDIOS holds a consensus rating of "Hold" with an average price target set at $3.63.

About PLAYSTUDIOS

PLAYSTUDIOS, Inc. specializes in developing and publishing free-to-play casual games, which are available for mobile and social platforms in the U.S. and worldwide. Their game library includes various titles in social casino, card, puzzle, and adventure genres, such as POP! Slots, myVEGAS Slots, my KONAMI Slots, MGM Slots Live, and many more.

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