Short Interest in PLAYSTUDIOS, Inc. (NASDAQ:MYPS) Grows By 236.3%

PLAYSTUDIOS, Inc. (NASDAQ:MYPS) saw a significant growth in short interest during the month of July. As of July 15th, there was short interest totaling 493,460 shares, a growth of 236.3% from the June 30th total of 146,734 shares. Based on an average daily trading volume, of 974,675 shares, the short-interest ratio is presently 0.5 days. Approximately 0.5% of the shares of the company are sold short.

PLAYSTUDIOS Stock Down 0.8%

PLAYSTUDIOS stock traded down $0.01 during mid-day trading on Tuesday, reaching $0.60. 150,212 shares of the company’s stock traded hands, compared to its average volume of 601,707. PLAYSTUDIOS has a 12-month low of $0.40 and a 12-month high of $1.25. The stock has a 50 day moving average of $0.59 and a two-hundred day moving average of $0.53. The company has a market cap of $77.53 million, a price-to-earnings ratio of -2.16 and a beta of 0.96.

PLAYSTUDIOS (NASDAQ:MYPS) last released its quarterly earnings results on Monday, May 11th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.03). PLAYSTUDIOS had a negative return on equity of 14.38% and a negative net margin of 15.79%.The company had revenue of $58.41 million during the quarter, compared to analysts’ expectations of $52.69 million.

Hedge Funds Weigh In On PLAYSTUDIOS

Several institutional investors have recently made changes to their positions in MYPS. Orion Porfolio Solutions LLC bought a new stake in shares of PLAYSTUDIOS in the third quarter valued at about $30,000. Franklin Resources Inc. bought a new stake in PLAYSTUDIOS during the third quarter valued at about $46,000. Verdad Advisers LP purchased a new position in PLAYSTUDIOS in the fourth quarter valued at about $48,000. Deutsche Bank AG purchased a new position in PLAYSTUDIOS in the fourth quarter valued at about $61,000. Finally, Wells Fargo & Company MN raised its holdings in PLAYSTUDIOS by 46.2% in the fourth quarter. Wells Fargo & Company MN now owns 100,224 shares of the company’s stock worth $65,000 after purchasing an additional 31,685 shares in the last quarter. Hedge funds and other institutional investors own 37.52% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of PLAYSTUDIOS in a research report on Wednesday, June 24th. Wall Street Zen raised PLAYSTUDIOS from a “sell” rating to a “hold” rating in a research report on Saturday, July 4th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $1.25.

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.