Playtech (LON:PTEC) Stock Price Up 9.2% – Here’s Why

Playtech plc (LON:PTEC) was up 9.2% during mid-day trading on Tuesday . The company traded as high as GBX 308 and last traded at GBX 298. Approximately 2,091,662 shares changed hands during trading, an increase of 141% from the average daily volume of 868,488 shares. The stock had previously closed at GBX 273.

Wall Street Analysts Forecast Growth

PTEC has been the topic of several analyst reports. Jefferies Financial Group cut Playtech to a “hold” rating and decreased their price objective for the stock from GBX 405 to GBX 240 in a report on Tuesday, November 25th. Deutsche Bank Aktiengesellschaft decreased their price target on Playtech from GBX 433 to GBX 390 and set a “buy” rating on the stock in a research note on Friday.

Playtech Trading Up 9.2%

The firm has a market capitalization of £841.76 million, a price-to-earnings ratio of 0.51, a PEG ratio of 1.28 and a beta of 1.26. The business’s 50-day moving average price is GBX 274.42 and its 200 day moving average price is GBX 329.72. The company has a debt-to-equity ratio of 40.06, a current ratio of 1.55 and a quick ratio of 1.09.

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.