Playtech (LON:PTEC) Stock Price Breaks Below 200-Day Moving Average – Time to Sell?

Shares of Playtech plc (LON:PTEC) crossed below its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of GBX 356.98 and traded as low as GBX 349.40. Playtech shares last traded at GBX 349.40, with a volume of 19,547,037 shares trading hands.

Wall Street Analysts Forecast Growth

PTEC has been the topic of several analyst reports. Citigroup upgraded Playtech to a “buy” rating in a report on Friday, July 10th. Jefferies Financial Group restated a “hold” rating and issued a GBX 405 price target on shares of Playtech in a report on Thursday, July 9th.

Playtech Price Performance

The stock has a market cap of £970.80 million, a PE ratio of 38.82, a P/E/G ratio of 1.28 and a beta of 0.66. The company has a debt-to-equity ratio of 23.48, a current ratio of 1.50 and a quick ratio of 1.09. The business has a fifty day moving average of GBX 387.97 and a 200 day moving average of GBX 356.98.

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.