GAN Limited (NASDAQ:GAN) Sees Significant Growth in Short Interest

GAN Limited (NASDAQ:GAN) was the target of a significant increase in short interest in the month of February. As of February 28th, there was short interest totalling 123,600 shares, an increase of 67.3% from the February 13th total of 73,900 shares. Currently, 0.3% of the company’s shares are sold short. Based on an average daily volume of 244,600 shares, the short-interest ratio is presently 0.5 days.

Institutional Trading of GAN

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of GAN in the fourth quarter worth about $36,000. Jane Street Group LLC bought a new position in GAN in the 4th quarter worth about $55,000. AssuredPartners Investment Advisors LLC bought a new position in GAN in the 4th quarter worth about $62,000. Ridgewood Investments LLC bought a new stake in shares of GAN during the fourth quarter valued at approximately $95,000. Finally, Rangeley Capital LLC purchased a new stake in shares of GAN in the fourth quarter valued at approximately $182,000. Hedge funds and other institutional investors own 16.67% of the company’s stock.

GAN Stock Down 0.6 %

NASDAQ GAN opened at $1.77 on Monday. GAN has a 52 week low of $1.17 and a 52 week high of $1.90. The firm has a market capitalization of $80.66 million, a price-to-earnings ratio of -5.90 and a beta of 1.96. The company has a fifty day moving average of $1.81 and a two-hundred day moving average of $1.81.

GAN (NASDAQ:GAN) last released its quarterly earnings results on Monday, March 17th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.01). The company had revenue of $31.69 million for the quarter, compared to analysts’ expectations of $41.11 million. During the same period in the previous year, the company posted ($0.21) earnings per share.

About GAN

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.