PLAYSTUDIOS, Inc. (NASDAQ:MYPS) Sees Notable Rise in Short Interest

PLAYSTUDIOS, Inc. (NASDAQ:MYPS) has experienced a notable rise in short interest during January. As of the end of January, specifically January 31st, short interest reached a total of 582,200 shares. This marks a 14.7% increase from the 507,800 shares reported on January 15th. Given an average daily trading volume of 220,500 shares, the days-to-cover ratio currently stands at 2.6 days. At present, approximately 0.7% of the stock's shares are considered to be sold short.

PLAYSTUDIOS Stock Performance

On a recent trading day, shares of MYPS saw a decrease of 1.7%, falling by $0.03 to reach a price of $1.78. A total of 74,879 shares changed hands, which is lower than the average volume of 147,227 shares. The fifty-day simple moving average for PLAYSTUDIOS is $1.88, while the two-hundred-day simple moving average sits at $1.69. Over the past year, the stock has seen a low of $1.20 and a high of $3.04. The company has a market capitalization of approximately $221.93 million, carries a PE ratio of -9.37, a P/E/G ratio of 17.70, and has a beta value of 0.80.

Insider Trading Activities

In relevant insider activity, CFO Scott Edward Peterson sold 25,000 shares of MYPS on November 18th. These shares were sold at an average price of $1.74, resulting in a total transaction value of $43,500. As a result of this sale, Peterson's remaining stake in the company amounts to 558,998 shares, valued at about $972,656.52, reflecting a 4.28% reduction in his position. This information has been filed with the Securities and Exchange Commission, which can be accessed through a legal filing. Currently, insiders own 14.29% of the company's stock.

Changes in Institutional Holdings

Several institutional investors have recently adjusted their holdings in PLAYSTUDIOS. Proficio Capital Partners LLC established a new position in the fourth quarter valued at approximately $26,000. Meanwhile, Tower Research Capital LLC increased its position by 248.4%, now owning 15,760 shares valued at $29,000 after buying an additional 11,237 shares. Virtu Financial LLC and O Shaughnessy Asset Management LLC also acquired new positions, valued at around $32,000 and $33,000 respectively. In total, 37.52% of the stock is owned by institutional investors and hedge funds.

Analyst Opinions on MYPS

Recent analyst reports concerning MYPS have shown varied opinions. On January 22nd, Macquarie revised its rating on PLAYSTUDIOS from "strong-buy" to "hold." Similarly, JPMorgan Chase & Co. maintained an "underweight" rating in their notes from December 18th. Among the analysts covering the stock, there is one sell rating, three hold ratings, and two buy ratings. According to MarketBeat data, PLAYSTUDIOS is generally rated as a "Hold" with an average price target of $3.63.

About PLAYSTUDIOS, Inc.

PLAYSTUDIOS, Inc. is engaged in developing and publishing free-to-play casual games for mobile and social platforms across both the United States and internationally. The company boasts a diverse portfolio that includes various genres such as social casino, card, puzzle, and adventure games. Some of its notable titles include POP! Slots, myVEGAS Slots, my KONAMI Slots, MGM Slots Live, myVEGAS Blackjack, myVEGAS Bingo, and popular classics like Tetris and Sudoku.

PLAYSTUDIOS, MYPS, ShortInterest