PICS (NASDAQ:PICS) Stock Rating Lowered by Wall Street Zen

PICS (NASDAQ:PICS) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Saturday, Wall Street Zen reports.

Several other research analysts have also recently commented on the stock. Zacks Research cut shares of PICS from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 18th. Weiss Ratings upgraded shares of PICS from a “sell (d)” rating to a “sell (d+)” rating in a research report on Monday, August 3rd. Royal Bank Of Canada dropped their price target on shares of PICS from $18.00 to $16.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 25th. Finally, Mizuho reduced their price target on shares of PICS from $18.00 to $16.00 and set an “outperform” rating for the company in a research note on Wednesday, August 26th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $22.50.

PICS Stock Performance

Shares of PICS opened at $9.09 on Friday. PICS has a 12 month low of $8.08 and a 12 month high of $19.95. The stock has a fifty day moving average price of $10.70 and a 200 day moving average price of $11.18.

Institutional Trading of PICS

Institutional investors have recently modified their holdings of the company. Whetstone Capital Advisors LLC bought a new position in PICS during the second quarter valued at about $2,189,000. BlueCrest Capital Management Ltd acquired a new position in PICS during the second quarter worth about $3,986,000. Finally, Readystate Asset Management LP bought a new stake in PICS in the second quarter worth about $744,000.

About PICS

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.