What Happened:

Shares of electronic gaming manufacturer and supplier PlayAGS (NYSE:AGS) jumped 12.8% in the morning session after B. Riley analyst initiated coverage on the stock and assigned a $16 price target, citing "multiple visible upside levers to consensus estimates and its stock valuation." The price target implied a +60% upside from where shares traded when the coverage was initiated.

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What is the market telling us:

PlayAGS's shares are a little volatile and over the last year have had 31 moves greater than 5%.

PlayAGS is up 13.6% since the beginning of the year, and at $9.40 per share it is trading close to its 52-week high of $9.72 from February 2024. Investors who bought $1,000 worth of PlayAGS's shares 5 years ago would now be looking at an investment worth $396.58.

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