Shares of PEXA Group (ASX:PXA) experienced a drop of as much as 11% to A$11.21 in what is being marked as its largest ever intraday percentage fall.
The slump comes after the digital property settlements platform posted a net profit after tax attributable of A$17.6 million for the year ending June 30, a figure that fell short of the UBS estimate of A$43.3 million.
The company’s FY business revenue came in at A$283.4 million, which slightly surpassed the A$279.8 million posted the previous year.
The shares reached their lowest level since June 20, 2022.
The company witnessed over 482,200 shares change hands, surpassing the 30-day average volume of 423,533.
The stock has fallen by 9.2% so far in the week, making this their worst week since September of the previous year.
The stock is rated as a ‘buy’ or higher by seven analysts and as a ‘sell’ by two; their median price target is A$15.20.
Despite the weekly downturn, the stock has risen 5.4% this year up to the most recent close.
PEXA Group (ASX:PXA) is a digital property settlements platform.