Bragg Gaming Group (NASDAQ:BRAG) Trading Down 1.7% – What’s Next?

Shares of Bragg Gaming Group Inc. (NASDAQ:BRAG) were down 1.7% during trading on Tuesday . The stock traded as low as $1.72 and last traded at $1.72. 754 shares traded hands during mid-day trading, a decline of 98% from the average daily volume of 39,132 shares. The stock had previously closed at $1.75.

Analyst Ratings Changes

BRAG has been the subject of a number of research analyst reports. Maxim Group dropped their price objective on shares of Bragg Gaming Group to $6.00 and set a “buy” rating for the company in a research note on Tuesday, June 9th. Weiss Ratings cut shares of Bragg Gaming Group from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, June 15th. Finally, Zacks Research upgraded shares of Bragg Gaming Group from a “strong sell” rating to a “hold” rating in a report on Wednesday, April 29th. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $5.33.

Bragg Gaming Group Trading Down 1.7%

The firm has a market capitalization of $43.07 million, a PE ratio of -5.55 and a beta of 0.92. The firm has a 50-day moving average of $1.81 and a two-hundred day moving average of $1.91.

Bragg Gaming Group (NASDAQ:BRAG) last posted its quarterly earnings results on Thursday, May 14th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.03. The firm had revenue of $29.64 million during the quarter, compared to the consensus estimate of $29.00 million. Bragg Gaming Group had a negative return on equity of 10.65% and a negative net margin of 6.27%. Equities research analysts expect that Bragg Gaming Group Inc. will post -0.02 earnings per share for the current fiscal year.

Institutional Trading of Bragg Gaming Group

A number of institutional investors have recently modified their holdings of the company. Jane Street Group LLC increased its position in Bragg Gaming Group by 43.6% during the 4th quarter. Jane Street Group LLC now owns 20,009 shares of the company’s stock worth $42,000 after purchasing an additional 6,072 shares in the last quarter. Royal Bank of Canada grew its stake in Bragg Gaming Group by 15.0% during the first quarter. Royal Bank of Canada now owns 57,864 shares of the company’s stock worth $100,000 after buying an additional 7,527 shares during the period. Finally, Goldman Sachs Group Inc. increased its position in shares of Bragg Gaming Group by 40.0% in the first quarter. Goldman Sachs Group Inc. now owns 72,263 shares of the company’s stock worth $297,000 after acquiring an additional 20,633 shares in the last quarter. Hedge funds and other institutional investors 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.