Playtech (LON:PTEC) Stock Price Up 9.2% – Here’s What Happened

Playtech plc (LON:PTEC) shares shot up 9.2% on Tuesday . The stock traded as high as GBX 308 and last traded at GBX 298. 2,091,662 shares were traded during mid-day trading, an increase of 141% from the average session volume of 868,488 shares. The stock had previously closed at GBX 273.

Wall Street Analysts Forecast Growth

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

Playtech Trading Up 9.2%

The firm has a market cap of £841.76 million, a P/E ratio of 0.51, a price-to-earnings-growth ratio of 1.28 and a beta of 1.26. The company has a current ratio of 1.55, a quick ratio of 1.09 and a debt-to-equity ratio of 40.06. The company’s fifty day moving average price is GBX 275.71 and its two-hundred day moving average price is GBX 329.17.

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.