GAN Limited (NASDAQ:GAN) Short Interest Up 16.4% in June

GAN Limited (NASDAQ:GAN) saw a significant increase in short interest in June. As of June 30th, there was short interest totalling 397,100 shares, an increase of 16.4% from the June 15th total of 341,100 shares. Based on an average daily volume of 122,900 shares, the days-to-cover ratio is currently 3.2 days.

Institutional Trading of GAN

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Gabelli Funds LLC raised its holdings in GAN by 5,788.6% during the 4th quarter. Gabelli Funds LLC now owns 989,282 shares of the company’s stock worth $1,563,000 after purchasing an additional 972,482 shares during the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. bought a new stake in shares of GAN during the fourth quarter worth approximately $1,525,000. Dynamic Technology Lab Private Ltd acquired a new position in GAN in the fourth quarter valued at approximately $1,001,000. PenderFund Capital Management Ltd. bought a new position in GAN in the fourth quarter valued at approximately $482,000. Finally, FNY Investment Advisers LLC acquired a new stake in GAN during the 4th quarter worth $292,000. Institutional investors and hedge funds own 16.67% of the company’s stock.

GAN Price Performance

Shares of GAN stock traded up $0.00 during trading hours on Wednesday, hitting $1.56. 34,448 shares of the company’s stock were exchanged, compared to its average volume of 171,524. GAN has a 52 week low of $0.83 and a 52 week high of $2.07. The stock has a market cap of $70.81 million, a price-to-earnings ratio of -1.73 and a beta of 2.02. The stock’s 50-day moving average is $1.41 and its 200-day moving average is $1.42.

GAN (NASDAQ:GAN) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($0.09) EPS for the quarter. GAN had a negative return on equity of 323.71% and a negative net margin of 32.10%. The company had revenue of $30.65 million for the quarter.

GAN Company Profile

GAN Limited operates as a business-to-business (B2B) supplier of enterprise software-as-a-service solutions to online casino gaming and sports betting applications in the United States, Europe, Latin America, and internationally. It operates through two segments: B2B and B2C. The company provides and licenses GameSTACK, an internet gaming platform that provides turnkey technology solution for regulated real-money internet gambling, online sports betting, and virtual simulated gaming.