Bragg Gaming Group Inc. (NASDAQ:BRAG) Sees Significant Increase in Short Interest

by · The Cerbat Gem

Bragg Gaming Group Inc. (NASDAQ:BRAG – Get Free Report) saw a large increase in short interest in the month of October. As of October 15th, there was short interest totalling 86,800 shares, an increase of 11.7% from the September 30th total of 77,700 shares. Based on an average daily volume of 35,300 shares, the days-to-cover ratio is currently 2.5 days. Currently, 0.5% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

Separately, JMP Securities reaffirmed a “market outperform” rating and set a $7.00 target price on shares of Bragg Gaming Group in a research note on Monday, October 14th.

View Our Latest Report on BRAG

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Marshall Wace LLP acquired a new position in Bragg Gaming Group during the 2nd quarter valued at $77,000. Dimensional Fund Advisors LP acquired a new position in shares of Bragg Gaming Group during the second quarter valued at about $200,000. Finally, Renaissance Technologies LLC lifted its stake in shares of Bragg Gaming Group by 40.7% in the second quarter. Renaissance Technologies LLC now owns 124,700 shares of the company’s stock valued at $720,000 after buying an additional 36,100 shares during the period. 4.04% of the stock is currently owned by institutional investors and hedge funds.

Bragg Gaming Group Stock Down 3.4 %

Shares of NASDAQ BRAG traded down $0.16 during mid-day trading on Thursday, hitting $4.55. 41,613 shares of the company traded hands, compared to its average volume of 44,336. Bragg Gaming Group has a 1 year low of $4.11 and a 1 year high of $7.00. The stock has a market capitalization of $113.79 million, a price-to-earnings ratio of -12.72 and a beta of 0.92. The business has a 50 day moving average of $4.95 and a two-hundred day moving average of $5.46.

Bragg Gaming Group (NASDAQ:BRAG – Get Free Report) last released its earnings results on Thursday, August 8th. The company reported ($0.11) earnings per share for the quarter. The business had revenue of $26.76 million for the quarter. Bragg Gaming Group had a negative net margin of 8.51% and a negative return on equity of 11.42%. As a group, research analysts anticipate that Bragg Gaming Group will post -0.15 EPS for the current year.

Bragg Gaming Group Company Profile

(Get Free Report)

Bragg Gaming Group Inc provides business to business online gaming technology platform and casino content aggregator worldwide. The company offers a range of games, including slot, table, card, video bingo, scratch card, and virtual sports, as well as live dealer games. It also provides player account management platform, a multi-channel and cross-product that enables operators to manage the entire product suite using one shared account and one wallet for casino, lottery, sportsbook, and other operations; and Fuze, a single integrated platform that delivers third party gaming content.

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