Short Interest in Priority Technology Holdings, Inc. (NASDAQ:PRTH) Declines By 17.0%

Priority Technology Holdings, Inc. (NASDAQ:PRTH) saw a significant drop in short interest in February. As of February 13th, there was short interest totaling 1,589,215 shares, a drop of 17.0% from the January 29th total of 1,915,486 shares. Currently, 5.7% of the shares of the stock are short sold. Based on an average trading volume of 384,317 shares, the short-interest ratio is currently 4.1 days. Based on an average trading volume of 384,317 shares, the short-interest ratio is currently 4.1 days. Currently, 5.7% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Alliance Global Partners reissued a “buy” rating on shares of Priority Technology in a report on Thursday, November 6th. Zacks Research upgraded Priority Technology from a “strong sell” rating to a “hold” rating in a research report on Wednesday, January 7th. iA Financial set a $11.00 price target on Priority Technology in a report on Thursday, November 6th. Wall Street Zen raised Priority Technology from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Keefe, Bruyette & Woods downgraded Priority Technology from a “moderate buy” rating to a “hold” rating and lowered their target price for the company from $9.00 to $6.00 in a research report on Tuesday, November 11th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, Priority Technology has an average rating of “Hold” and an average price target of $8.50.

Priority Technology Stock Performance

NASDAQ:PRTH opened at $5.65 on Tuesday. The firm has a market capitalization of $462.58 million, a PE ratio of 10.66 and a beta of 1.40. The stock’s fifty day moving average is $5.65 and its 200 day moving average is $6.38. Priority Technology has a fifty-two week low of $4.44 and a fifty-two week high of $10.92.

Hedge Funds Weigh In On Priority Technology

Large investors have recently made changes to their positions in the company. Raymond James Financial Inc. bought a new position in Priority Technology during the 2nd quarter valued at about $29,000. BNP Paribas Financial Markets boosted its position in shares of Priority Technology by 57.3% during the third quarter. BNP Paribas Financial Markets now owns 5,115 shares of the company’s stock valued at $35,000 after buying an additional 1,863 shares during the period. Strs Ohio bought a new position in shares of Priority Technology during the first quarter valued at approximately $46,000. Invesco Ltd. purchased a new stake in shares of Priority Technology in the fourth quarter worth approximately $58,000. Finally, AXQ Capital LP bought a new stake in shares of Priority Technology during the 4th quarter worth approximately $80,000. 11.52% of the stock is owned by hedge funds and other institutional investors.

About Priority Technology

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.