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

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

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on PTEC shares. Jefferies Financial Group cut Playtech to a “hold” rating and decreased their target price for the company from GBX 405 to GBX 240 in a research report on Tuesday, November 25th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Playtech from GBX 433 to GBX 390 and set a “buy” rating on the stock in a report on Friday.

Playtech Stock Performance

The stock has a fifty day simple moving average of GBX 274.42 and a two-hundred day simple moving average of GBX 329.72. The company has a debt-to-equity ratio of 40.06, a quick ratio of 1.09 and a current ratio of 1.55. The stock has a market capitalization of £841.76 million, a price-to-earnings ratio of 0.51, a P/E/G ratio of 1.28 and a beta of 1.26.

Playtech Company Profile

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.