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

PLAYSTUDIOS, Inc. (NASDAQ:MYPS) saw a significant drop in short interest during 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. Currently, 1.8% of the shares of the company are sold short. Based on an average daily volume of 245,221 shares, the days-to-cover ratio is presently 8.1 days. Based on an average daily volume of 245,221 shares, the days-to-cover ratio is presently 8.1 days. Currently, 1.8% of the shares of the company are sold short.

Institutional Trading of PLAYSTUDIOS

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

PLAYSTUDIOS Price Performance

Shares of PLAYSTUDIOS stock traded down $0.01 during trading on Tuesday, hitting $0.49. 194,169 shares of the company’s stock traded hands, compared to its average volume of 286,159. The firm’s fifty day moving average price is $0.55 and its 200 day moving average price is $0.73. PLAYSTUDIOS has a twelve month low of $0.43 and a twelve month high of $1.69. The company has a market cap of $61.28 million, a PE ratio of -1.68 and a beta of 0.95.

PLAYSTUDIOS (NASDAQ:MYPS) last posted its quarterly earnings results on Monday, March 16th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.05). The business had revenue of $55.40 million during the quarter, compared to analyst estimates of $56.23 million. PLAYSTUDIOS had a negative return on equity of 8.71% and a negative net margin of 15.10%. As a group, equities research analysts anticipate that PLAYSTUDIOS will post -0.17 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on MYPS shares. Weiss Ratings reissued a “sell (e+)” rating on shares of PLAYSTUDIOS in a report on Monday, December 29th. Benchmark reaffirmed a “hold” rating on shares of PLAYSTUDIOS in a research report on Tuesday. Zacks Research raised PLAYSTUDIOS from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 10th. Finally, Craig Hallum restated a “buy” rating on shares of PLAYSTUDIOS in a research note on Tuesday. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price 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.