PLAYSTUDIOS (NASDAQ:MYPS) Stock Price Up 934.9% – Still a Buy?

PLAYSTUDIOS, Inc. (NASDAQ:MYPS)’s share price shot up 934.9% on Thursday. The company traded as high as $4.79 and last traded at $4.7450. Approximately 2,038 shares traded hands during mid-day trading, a decline of 100% from the average daily volume of 534,542 shares. The stock had previously closed at $0.4585.

Wall Street Analyst Weigh In

A number of research analysts recently commented on MYPS shares. Weiss Ratings downgraded shares of PLAYSTUDIOS from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, September 21st. Wall Street Zen raised PLAYSTUDIOS from a “sell” rating to a “hold” rating in a research note on Saturday, July 4th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, PLAYSTUDIOS has a consensus rating of “Hold” and an average target price of $12.50.

PLAYSTUDIOS Trading Down 4.5%

The stock has a market capitalization of $544.74 million, a PE ratio of -12.54 and a beta of 0.96. The business’s 50 day moving average is $0.54 and its 200 day moving average is $0.53.

PLAYSTUDIOS (NASDAQ:MYPS) last posted its quarterly earnings data on Tuesday, August 11th. The company reported ($1.00) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.63). PLAYSTUDIOS had a negative return on equity of 19.61% and a negative net margin of 20.65%.The firm had revenue of $54.99 million during the quarter, compared to analysts’ expectations of $57.05 million.

Institutional Trading of PLAYSTUDIOS

An institutional investor recently bought a new stake in PLAYSTUDIOS stock. Stoic Point Capital Management LLC purchased a new position in PLAYSTUDIOS, Inc. (NASDAQ:MYPS) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 862,771 shares of the company’s stock, valued at approximately $405,000. Stoic Point Capital Management LLC owned 0.67% of PLAYSTUDIOS at the end of the most recent reporting period. Hedge funds and other institutional investors own 37.52% of the company’s stock.

PLAYSTUDIOS Company Profile

PLAYSTUDIOS, Inc is a mobile and social gaming company that develops and operates free-to-play casual and social casino games. Its portfolio includes titles such as myVEGAS Slots, myKONAMI Slots, POP! Slots and MGM Slots Live, which are designed for play on mobile devices and other digital platforms.

The company’s games are built around its playAWARDS loyalty program, which allows players to earn points and redeem them for real-world rewards. These rewards may include hotel stays, dining, entertainment, travel and other experiences offered through participating partners.

Founded in 2011 and headquartered in Las Vegas, Nevada, PLAYSTUDIOS serves players internationally through digital distribution platforms.