PICS (NASDAQ:PICS) Stock Rating Lowered by Zacks Research

PICS (NASDAQ:PICS) was downgraded by equities researchers at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Monday, Zacks reports.

Several other research firms have also recently weighed in on PICS. Mizuho decreased their price target on PICS from $18.00 to $16.00 and set an “outperform” rating for the company in a research note on Wednesday, August 26th. Royal Bank Of Canada dropped their price objective on PICS from $18.00 to $16.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 25th. Weiss Ratings raised PICS from a “sell (d)” rating to a “sell (d+)” rating in a research report on Monday, August 3rd. Finally, Wall Street Zen upgraded PICS from a “hold” rating to a “buy” rating in a report on Sunday, October 11th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, PICS currently has an average rating of “Moderate Buy” and a consensus target price of $22.50.

PICS Trading Up 4.0%

Shares of PICS opened at $14.14 on Monday. The business’s fifty day simple moving average is $10.82 and its two-hundred day simple moving average is $11.28. PICS has a 12 month low of $8.08 and a 12 month high of $19.95.

Institutional Investors Weigh In On PICS

A number of large investors have recently made changes to their positions in the company. Readystate Asset Management LP purchased a new stake in shares of PICS during the 2nd quarter valued at about $744,000. Whetstone Capital Advisors LLC bought a new position in shares of PICS in the 2nd quarter worth approximately $2,189,000. Finally, BlueCrest Capital Management Ltd bought a new position in shares of PICS in the 2nd quarter worth approximately $3,986,000.

About PICS

PicS N.V. operates as a digital financial services company which provides digital wallet and application for individuals and businesses principally in Brazil. It offers a range of transactional products for its consumers, including Pix, an instant payment system, peer-to-peer between PicPay accounts, bill payments, payroll portability, global account and a payment assistant. PicS N.V., formerly known as Picpay Holdings Netherlands B.V., is based in S?o Paulo, Brazil.