PICS (NASDAQ:PICS) Stock Moved Down to “Strong Sell” by Zacks Research

Zacks Research cut shares of PICS (NASDAQ:PICS) from a hold rating to a strong sell rating in a report released on Monday morning,Zacks reports.

Other research analysts have also recently issued research reports about the company. Royal Bank Of Canada decreased their price target on PICS from $18.00 to $16.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 25th. Weiss Ratings raised shares of PICS from a “sell (d)” rating to a “sell (d+)” rating in a research report on Monday, August 3rd. Mizuho reduced their price objective on shares of PICS from $18.00 to $16.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 26th. Finally, Wall Street Zen upgraded shares of PICS from a “hold” rating to a “buy” rating in a research note on Sunday, October 11th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, PICS currently has an average rating of “Moderate Buy” and a consensus target price of $22.50.

PICS Stock Performance

NASDAQ:PICS opened at $14.14 on Monday. The company has a market cap of $1.51 billion and a price-to-earnings ratio of 16.07. PICS has a fifty-two week low of $8.08 and a fifty-two week high of $19.95. The stock has a fifty day moving average price of $10.82 and a 200-day moving average price of $11.28.

Institutional Investors Weigh In On PICS

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Whetstone Capital Advisors LLC acquired a new stake in shares of PICS in the 2nd quarter valued at $2,189,000. BlueCrest Capital Management Ltd acquired a new position in shares of PICS during the 2nd quarter worth $3,986,000. Finally, Readystate Asset Management LP acquired a new position in shares of PICS during the 2nd quarter worth $744,000.

PICS Company Profile

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.