Zacks Research Upgrades Bragg Gaming Group (NASDAQ:BRAG) to Hold

Bragg Gaming Group (NASDAQ:BRAG) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Wednesday,Zacks.com reports.

Bragg Gaming Group Stock Up 2.5%

Bragg Gaming Group stock opened at $2.04 on Wednesday. The business’s 50-day simple moving average is $1.80 and its 200 day simple moving average is $2.08. The stock has a market cap of $51.09 million, a price-to-earnings ratio of -5.51 and a beta of 0.87. Bragg Gaming Group has a 12-month low of $1.46 and a 12-month high of $4.82.

Bragg Gaming Group (NASDAQ:BRAG) last posted its quarterly earnings results on Thursday, March 19th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.03). The firm had revenue of $32.66 million during the quarter, compared to the consensus estimate of $28.35 million. Bragg Gaming Group had a negative net margin of 7.59% and a negative return on equity of 12.52%. As a group, sell-side analysts expect that Bragg Gaming Group will post -0.08 EPS for the current year.

Hedge Funds Weigh In On Bragg Gaming Group

A hedge fund recently raised its stake in Bragg Gaming Group stock. Jane Street Group LLC boosted its position in Bragg Gaming Group Inc. (NASDAQ:BRAG) by 43.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 20,009 shares of the company’s stock after acquiring an additional 6,072 shares during the period. Jane Street Group LLC owned 0.08% of Bragg Gaming Group worth $42,000 at the end of the most recent quarter. Institutional investors and hedge funds own 4.04% of the company’s stock.

About Bragg Gaming Group

Bragg Gaming Group is a business-to-business supplier of online gaming content, technology and platform solutions. The company develops and distributes a mix of proprietary, third-party and licensed casino games, including video slots, table games and live dealer experiences. Its core offering centers on a scalable gaming platform designed to support operator integration, player management and advanced analytics.

Bragg’s technology stack features its flagship ORYX Gaming platform, which provides a centralized hub for game aggregation, platform services and regulatory compliance tools.