Playtech (LON:PTEC) Trading 10.2% Higher – Here’s What Happened

Playtech plc (LON:PTEC)’s share price shot up 10.2% during mid-day trading on Tuesday . The stock traded as high as GBX 354.50 and last traded at GBX 351.50. 1,682,517 shares were traded during trading, a decline of 63% from the average session volume of 4,554,998 shares. The stock had previously closed at GBX 319.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on PTEC shares. Jefferies Financial Group downgraded shares of Playtech to a “hold” rating and dropped their price objective for the company from GBX 405 to GBX 240 in a research note on Tuesday, November 25th. Deutsche Bank Aktiengesellschaft dropped their price target on Playtech from GBX 433 to GBX 390 and set a “buy” rating for the company in a research note on Friday, January 23rd.

Playtech Stock Up 10.2%

The firm has a market capitalization of £992.89 million, a price-to-earnings ratio of 0.60, a P/E/G ratio of 1.28 and a beta of 1.26. The company has a debt-to-equity ratio of 40.06, a current ratio of 1.55 and a quick ratio of 1.09. The stock has a fifty day moving average of GBX 283.77 and a two-hundred day moving average of GBX 322.89.

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.