Playtech (OTCMKTS:PYTCF) Trading 11.8% Higher – Here’s Why

Playtech plc (OTCMKTS:PYTCF) shares shot up 11.8% on Tuesday . The company traded as high as $4.12 and last traded at $4.12. 2,064 shares were traded during trading, an increase of 91% from the average session volume of 1,082 shares. The stock had previously closed at $3.6850.

Analyst Ratings Changes

A number of brokerages have commented on PYTCF. Jefferies Financial Group cut Playtech to a “hold” rating in a research report on Tuesday, November 25th. Morgan Stanley downgraded Playtech to an “underweight” rating in a report on Friday, December 12th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Reduce”.

Playtech Stock Performance

The firm has a 50-day simple moving average of $3.66 and a two-hundred day simple moving average of $4.40.

About Playtech

Playtech is a leading provider of software and services for the global online gambling and financial trading industries. The company offers a comprehensive suite of technology solutions designed to support online casinos, sports betting, poker, bingo and live dealer experiences. Through a unified back-office platform, Playtech enables operators to manage player accounts, payments, compliance and marketing across a diverse range of verticals and brands.

The company’s product portfolio includes a proprietary casino platform, a sportsbook engine, live dealer studios and a variety of branded slot and table games.