Short Interest in Lottery.com Inc. (NASDAQ:SEGG) Decreases By 42.1%

Lottery.com Inc. (NASDAQ:SEGG) saw a significant decline in short interest in the month of June. As of June 30th, there was short interest totaling 678,197 shares, a decline of 42.1% from the June 15th total of 1,171,939 shares. Based on an average daily volume of 808,137 shares, the short-interest ratio is presently 0.8 days. Currently, 5.2% of the shares of the company are sold short.

Institutional Trading of Lottery.com

A hedge fund recently bought a new position in Lottery.com stock. DRW Securities LLC purchased a new stake in Lottery.com Inc. (NASDAQ:SEGG) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 58,609 shares of the company’s stock, valued at approximately $43,000. DRW Securities LLC owned 0.64% of Lottery.com at the end of the most recent reporting period. 7.72% of the stock is owned by institutional investors and hedge funds.

Lottery.com Price Performance

SEGG stock traded up $0.07 during mid-day trading on Friday, reaching $0.84. 300,235 shares of the company traded hands, compared to its average volume of 660,682. The company has a market capitalization of $13.92 million, a P/E ratio of -0.22 and a beta of 2.44. Lottery.com has a 52-week low of $0.46 and a 52-week high of $13.10. The company has a fifty day moving average price of $1.30 and a 200-day moving average price of $1.11.

Analysts Set New Price Targets

Several research analysts recently commented on SEGG shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Lottery.com in a report on Monday, July 6th. Wall Street Zen cut shares of Lottery.com from a “sell” rating to a “strong sell” rating in a report on Sunday, July 12th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $20.00.

About Lottery.com

Lottery.com (NASDAQ: SEGG) operates a digital platform designed to streamline lottery participation by enabling users to purchase entries into state-regulated lotteries via mobile devices or the web. The company’s flagship mobile application and website serve as a gateway for consumers to participate in Powerball®, Mega Millions® and a range of other national and regional lottery drawings. Through partnerships with lottery providers, Lottery.com handles ticket procurement, secure storage and digital delivery of scanned tickets, offering a convenient alternative to traditional retail purchase.

Founded in 2016 and headquartered in Addison, Texas, Lottery.com has expanded its footprint beyond the United States, exploring opportunities in international markets such as Mexico and select European jurisdictions.