Playtech (LON:PTEC) Trading 9.2% Higher – Here’s What Happened

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

Analyst Ratings Changes

Several research firms have recently commented on PTEC. Jefferies Financial Group lowered shares of Playtech to a “hold” rating and reduced their price target for the company from GBX 405 to GBX 240 in a report on Tuesday, November 25th. Deutsche Bank Aktiengesellschaft dropped their target price on Playtech from GBX 433 to GBX 390 and set a “buy” rating on the stock in a research report on Friday.

Playtech Stock Up 9.2%

The company’s 50-day moving average is GBX 275.71 and its 200 day moving average is GBX 329.17. The stock has a market capitalization of £841.76 million, a PE ratio of 0.51, a price-to-earnings-growth ratio of 1.28 and a beta of 1.26. The company has a current ratio of 1.55, a quick ratio of 1.09 and a debt-to-equity ratio of 40.06.

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.