Playtech (LON:PTEC) Trading 9.2% Higher – Here’s Why

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

Analyst Upgrades and Downgrades

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

Playtech Stock Performance

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. The company has a debt-to-equity ratio of 40.06, a quick ratio of 1.09 and a current ratio of 1.55. The stock’s 50-day moving average is GBX 275.71 and its 200 day moving average is GBX 329.17.

Playtech Company Profile

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.