Pagaya Technologies Ltd. recently reported another strong quarter with 31% revenue growth. The AI lending tech platform faces constant funding requirements from bank partners, and recent internal capital raises hurt the stock. The stock trades at less than 5x adjusted EBITDA targets despite strong growth, with related fintechs out of favor due to the interest rate environment.
Institutional owners/shares have increased dramatically in the most recent quarter. Pagaya is addressing the market's concerns over its funding of risk-retention, and the overall percentage of its risk-retention assets. Pagaya's share price is clearly moving in conjunction with a traditional, short-term moving average, and may be on the cusp of a breakout.