PICS (NASDAQ:PICS) Cut to Hold at Wall Street Zen

Wall Street Zen downgraded shares of PICS (NASDAQ:PICS) from a buy rating to a hold rating in a report published on Saturday,Wall Street Zen reports.

Several other research analysts also recently commented on PICS. Royal Bank Of Canada cut their target price on PICS from $18.00 to $16.00 and set an “outperform” rating on the stock in a report on Tuesday, August 25th. Weiss Ratings raised PICS from a “sell (d)” rating to a “sell (d+)” rating in a research note on Monday, August 3rd. Mizuho lowered their price objective on PICS from $18.00 to $16.00 and set an “outperform” rating for the company in a research report on Wednesday, August 26th. Finally, Zacks Research lowered PICS from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 18th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $22.50.

PICS Price Performance

Shares of PICS stock opened at $11.62 on Friday. PICS has a twelve month low of $8.08 and a twelve month high of $19.95. The company’s fifty day moving average is $10.68 and its 200 day moving average is $11.15.

Hedge Funds Weigh In On PICS

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Readystate Asset Management LP bought a new stake in PICS during the second quarter valued at $744,000. Whetstone Capital Advisors LLC bought a new position in shares of PICS in the 2nd quarter worth about $2,189,000. Finally, BlueCrest Capital Management Ltd bought a new position in shares of PICS in the 2nd quarter worth about $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.