Priority Technology (NASDAQ:PRTH) Stock Rating Upgraded by Wall Street Zen

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

Several other equities analysts also recently commented on the stock. Alliance Global Partners reiterated 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 report on Wednesday, January 7th. Weiss Ratings reissued a “hold (c)” rating on shares of Priority Technology in a research note on Monday, December 29th. Keefe, Bruyette & Woods downgraded Priority Technology from a “moderate buy” rating to a “hold” rating and cut their price objective for the company from $9.00 to $6.00 in a research report on Tuesday, November 11th. Finally, iA Financial set a $11.00 target price on Priority Technology in a research report on Thursday, November 6th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Priority Technology presently has an average rating of “Hold” and a consensus price target of $8.50.

Priority Technology Price Performance

NASDAQ PRTH opened at $5.55 on Friday. Priority Technology has a 52 week low of $4.44 and a 52 week high of $10.92. The firm has a market capitalization of $454.38 million, a price-to-earnings ratio of 10.47 and a beta of 1.39. The company has a fifty day moving average of $5.65 and a two-hundred day moving average of $6.39.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Knights of Columbus Asset Advisors LLC bought a new position in shares of Priority Technology during the third quarter valued at approximately $1,840,000. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Priority Technology by 40.3% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 184,952 shares of the company’s stock worth $1,439,000 after buying an additional 53,163 shares during the period. Acadian Asset Management LLC boosted its position in Priority Technology by 66.2% during the 2nd quarter. Acadian Asset Management LLC now owns 594,095 shares of the company’s stock valued at $4,618,000 after acquiring an additional 236,622 shares in the last quarter. Sierra Summit Advisors LLC purchased a new position in shares of Priority Technology in the 2nd quarter valued at $688,000. Finally, Kovack Advisors Inc. raised its position in shares of Priority Technology by 167.9% in the 2nd quarter. Kovack Advisors Inc. now owns 57,600 shares of the company’s stock worth $448,000 after acquiring an additional 36,100 shares in the last quarter. 11.52% of the stock is currently owned by 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.