Priority Technology (NASDAQ:PRTH) Upgraded by Wall Street Zen to Buy Rating

Wall Street Zen upgraded shares of Priority Technology (NASDAQ:PRTH) from a hold rating to a buy rating in a research report sent to investors on Saturday morning.

PRTH has been the topic of several other research reports. Zacks Research raised Priority Technology from a “strong sell” rating to a “hold” rating in a report on Wednesday, January 7th. iA Financial set a $11.00 price objective on Priority Technology in a research report on Thursday, November 6th. Alliance Global Partners reissued a “buy” rating on shares of Priority Technology in a research report on Thursday, November 6th. Weiss Ratings restated a “hold (c)” rating on shares of Priority Technology in a research note on Monday, December 29th. Finally, Keefe, Bruyette & Woods lowered shares of Priority Technology from a “moderate buy” rating to a “hold” rating and dropped their price target for the company from $9.00 to $6.00 in a research note on Tuesday, November 11th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $8.50.

Priority Technology Price Performance

Shares of Priority Technology stock opened at $5.55 on Friday. Priority Technology has a 52-week low of $4.44 and a 52-week high of $10.92. The company has a market capitalization of $454.38 million, a P/E ratio of 10.47 and a beta of 1.40. The company has a 50 day moving average of $5.65 and a 200 day moving average of $6.40.

Institutional Trading of Priority Technology

Institutional investors and hedge funds have recently bought and sold shares of the business. Steamboat Capital Partners LLC grew its position in Priority Technology by 13.5% during the 4th quarter. Steamboat Capital Partners LLC now owns 1,576,734 shares of the company’s stock worth $8,593,000 after purchasing an additional 187,893 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Priority Technology by 13.9% during the third quarter. Vanguard Group Inc. now owns 1,487,948 shares of the company’s stock worth $10,222,000 after buying an additional 181,795 shares during the period. Wells Fargo & Company MN grew its holdings in shares of Priority Technology by 1,912.7% during the fourth quarter. Wells Fargo & Company MN now owns 711,136 shares of the company’s stock worth $3,876,000 after buying an additional 675,803 shares during the last quarter. Geode Capital Management LLC increased its position in Priority Technology by 8.8% in the 4th quarter. Geode Capital Management LLC now owns 660,518 shares of the company’s stock valued at $3,601,000 after acquiring an additional 53,317 shares during the period. Finally, Norwood Investment Partners LP acquired a new position in Priority Technology in the 4th quarter valued at about $3,433,000. Hedge funds and other institutional investors own 11.52% of the company’s stock.

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.