PICS (NASDAQ:PICS) Cut to Strong Sell at Zacks Research

PICS (NASDAQ:PICS) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Monday, Zacks reports.

Other equities research analysts have also issued reports about the company. Weiss Ratings upgraded PICS from a “sell (d)” rating to a “sell (d+)” rating in a research note on Monday, August 3rd. Wall Street Zen upgraded PICS from a “hold” rating to a “buy” rating in a research report on Sunday, October 11th. Mizuho lowered their target price on PICS from $18.00 to $16.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 26th. Finally, Royal Bank Of Canada cut their price target on PICS from $18.00 to $16.00 and set an “outperform” rating for the company in a report on Tuesday, August 25th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.50.

PICS Price Performance

Shares of PICS stock opened at $14.14 on Monday. PICS has a 1 year low of $8.08 and a 1 year high of $19.95. The firm has a fifty day moving average price of $10.82 and a 200-day moving average price of $11.28.

Institutional Investors Weigh In On PICS

A number of institutional investors have recently added to or reduced their stakes in the stock. Whetstone Capital Advisors LLC bought a new stake in shares of PICS during the second quarter valued at approximately $2,189,000. BlueCrest Capital Management Ltd purchased a new position in shares of PICS in the second quarter worth $3,986,000. Finally, Readystate Asset Management LP purchased a new position in shares of PICS in the second quarter worth $744,000.

PICS Company Profile

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.