Playtech (LON:PTEC) Stock Price Up 9.7% – Here’s What Happened

Shares of Playtech plc (LON:PTEC) traded up 9.7% during mid-day trading on Tuesday . The company traded as high as GBX 308 and last traded at GBX 299.55. 1,677,764 shares changed hands during mid-day trading, an increase of 98% from the average session volume of 845,494 shares. The stock had previously closed at GBX 273.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PTEC. Jefferies Financial Group downgraded Playtech to a “hold” rating and reduced their target price for the stock from GBX 405 to GBX 240 in a research report on Tuesday, November 25th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Playtech from GBX 433 to GBX 390 and set a “buy” rating on the stock in a research report on Friday.

Playtech Price Performance

The company has a quick ratio of 1.09, a current ratio of 1.55 and a debt-to-equity ratio of 40.06. The company has a 50 day moving average of GBX 274.42 and a two-hundred day moving average of GBX 329.72. The firm has a market cap of £841.76 million, a P/E ratio of 0.51, a PEG ratio of 1.28 and a beta of 1.26.

About Playtech

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.