Wall Street Zen Upgrades Priority Technology (NASDAQ:PRTH) to Buy

Priority Technology (NASDAQ:PRTH) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday.

A number of other research firms also recently weighed in on PRTH. Alliance Global Partners reaffirmed a “buy” rating on shares of Priority Technology in a research note on Thursday, November 6th. Zacks Research upgraded Priority Technology from a “strong sell” rating to a “hold” rating in a report on Wednesday, January 7th. iA Financial set a $11.00 target price on shares of Priority Technology in a research note on Thursday, November 6th. Weiss Ratings reissued a “hold (c)” rating on shares of Priority Technology in a research report on Monday, December 29th. Finally, Keefe, Bruyette & Woods downgraded shares of Priority Technology from a “moderate buy” rating to a “hold” rating and cut their price target for the company from $9.00 to $6.00 in a report on Tuesday, November 11th. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $8.50.

Priority Technology Stock Performance

Shares of NASDAQ:PRTH opened at $5.55 on Friday. The firm has a market cap of $454.38 million, a price-to-earnings ratio of 10.47 and a beta of 1.40. Priority Technology has a 1 year low of $4.44 and a 1 year high of $10.92. The business has a fifty day simple moving average of $5.65 and a 200 day simple moving average of $6.41.

Institutional Trading of Priority Technology

A number of institutional investors and hedge funds have recently modified their holdings of the company. Wells Fargo & Company MN boosted its holdings in shares of Priority Technology by 1,912.7% during the 4th quarter. Wells Fargo & Company MN now owns 711,136 shares of the company’s stock worth $3,876,000 after buying an additional 675,803 shares during the period. Norwood Investment Partners LP acquired a new position in Priority Technology during the 4th quarter worth $3,433,000. Beartown Capital Management LLC bought a new stake in Priority Technology during the fourth quarter valued at about $2,180,000. FourWorld Capital Management LLC acquired a new stake in shares of Priority Technology in the fourth quarter valued at about $2,007,000. Finally, AQR Capital Management LLC bought a new position in shares of Priority Technology in the first quarter worth about $2,292,000. 11.52% of the stock is currently owned by institutional investors and hedge funds.

Priority Technology Company Profile

Priority Technology Acquisition Corp is a special purpose acquisition company formed to effect a merger, capital stock exchange, asset acquisition, stock purchase, recapitalization or similar business combination with one or more businesses in the technology sector. As a blank-check company, it does not conduct any operations of its own and holds the proceeds from its initial public offering in a trust account pending the identification and completion of a business combination.

The company’s management team is focused on evaluating target businesses that offer scalable technology products or services, including software, digital platforms and related infrastructure.