Pagaya Technologies Ltd. (PGY) shares fell 19.66 percent to $14.98, down $3.66 on Monday, as investors reacted to the company's fourth quarterly and full-year financial results despite a return to profitability.
The stock is currently trading at $14.98, compared with a previous close of $18.64. Shares opened at $13.65 and moved between $13.50 and $15.25 during the session on the Nasdaq. Trading volume surged to about 15.61 million shares, well above the average volume of 3.47 million. The latest bid was $10.75 for 200 shares, while the ask stood at $17.48 for 200 shares.
Pagaya reported fourth-quarter net income to shareholders of $34.3 million, or $0.41 per share, compared with a loss of $237.9 million, or $3.20 per share, a year earlier. Full-year net income improved to $81.4 million, or $0.99 per share, from a loss of $401.4 million, or $5.66 per share, in 2024. Revenue for the year rose to $1.30 billion from $1.03 billion year over.
The stock's 52-week range is $8.50 to $44.99.
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