Priority Technology Holdings, Inc. (NASDAQ:PRTH) Short Interest Down 17.0% in February

Priority Technology Holdings, Inc. (NASDAQ:PRTH) saw a large decrease in short interest in February. As of February 13th, there was short interest totaling 1,589,215 shares, a decrease of 17.0% from the January 29th total of 1,915,486 shares. Based on an average daily trading volume, of 384,317 shares, the days-to-cover ratio is currently 4.1 days. Currently, 5.7% of the shares of the stock are sold short. Currently, 5.7% of the shares of the stock are sold short. Based on an average daily trading volume, of 384,317 shares, the days-to-cover ratio is currently 4.1 days.

Analyst Ratings Changes

A number of analysts recently weighed in on PRTH shares. Wall Street Zen raised shares of Priority Technology from a “hold” rating to a “buy” rating in a research note on Saturday. Alliance Global Partners reaffirmed a “buy” rating on shares of Priority Technology in a report on Thursday, November 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of Priority Technology in a research note on Monday, December 29th. iA Financial set a $11.00 target price on Priority Technology in a report on Thursday, November 6th. Finally, Keefe, Bruyette & Woods lowered Priority Technology from a “moderate buy” rating to a “hold” rating and decreased their price target for the company from $9.00 to $6.00 in a research note on Tuesday, November 11th. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $8.50.

Institutional Trading of Priority Technology

Several large investors have recently made changes to their positions in the business. Wells Fargo & Company MN increased its stake in shares of Priority Technology by 1,912.7% in the fourth quarter. Wells Fargo & Company MN now owns 711,136 shares of the company’s stock valued at $3,876,000 after buying an additional 675,803 shares in the last quarter. Norwood Investment Partners LP bought a new stake in Priority Technology during the 4th quarter worth about $3,433,000. Beartown Capital Management LLC bought a new stake in Priority Technology during the 4th quarter worth about $2,180,000. FourWorld Capital Management LLC acquired a new stake in Priority Technology in the 4th quarter valued at about $2,007,000. Finally, AQR Capital Management LLC acquired a new stake in Priority Technology in the 1st quarter valued at about $2,292,000. Institutional investors own 11.52% of the company’s stock.

Priority Technology Price Performance

Shares of PRTH traded up $0.07 on Wednesday, hitting $5.73. The company’s stock had a trading volume of 184,884 shares, compared to its average volume of 316,540. The company has a market capitalization of $469.12 million, a PE ratio of 10.81 and a beta of 1.39. Priority Technology has a fifty-two week low of $4.44 and a fifty-two week high of $9.32. The company has a 50 day moving average price of $5.65 and a 200 day moving average price of $6.36.

About Priority Technology

Priority Technology Acquisition Corp is a special purpose acquisition company formed to effect a merger, capital stock exchange, asset acquisition, stock purchase, recapitalization or similar business combination with one or more businesses in the technology sector. As a blank-check company, it does not conduct any operations of its own and holds the proceeds from its initial public offering in a trust account pending the identification and completion of a business combination.

The company’s management team is focused on evaluating target businesses that offer scalable technology products or services, including software, digital platforms and related infrastructure.