Snail (NASDAQ:SNAL) Releases Earnings Results, Misses Expectations By $1.91 EPS

Snail (NASDAQ:SNAL) announced its earnings results on Tuesday. The company reported ($0.36) EPS for the quarter, missing the consensus estimate of $1.55 by ($1.91), FiscalAI reports. Snail had a negative net margin of 11.73% and a negative return on equity of 15.49%. The company had revenue of $21.80 million for the quarter, compared to analysts’ expectations of $29.00 million.

Snail Price Performance

Snail stock traded up $0.07 during trading hours on Tuesday, hitting $4.59. The company had a trading volume of 276,552 shares, compared to its average volume of 1,903,004. Snail has a fifty-two week low of $1.70 and a fifty-two week high of $10.80. The firm has a market capitalization of $39.11 million, a P/E ratio of -1.48 and a beta of 1.29. The firm’s fifty day moving average is $3.96 and its 200-day moving average is $3.64.

Hedge Funds Weigh In On Snail

Several institutional investors and hedge funds have recently modified their holdings of SNAL. Connective Capital Management LLC acquired a new position in shares of Snail in the third quarter worth $158,000. Evergreen Capital Management LLC acquired a new stake in Snail during the second quarter valued at $59,000. Finally, Susquehanna International Group LLP grew its stake in Snail by 63.3% in the third quarter. Susquehanna International Group LLP now owns 29,929 shares of the company’s stock valued at $33,000 after purchasing an additional 11,601 shares in the last quarter. 0.36% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Wall Street Zen raised Snail to a “buy” rating in a research note on Saturday, May 30th. Weiss Ratings raised shares of Snail from a “sell (d-)” rating to a “sell (d)” rating in a research note on Wednesday, May 27th. Zacks Research downgraded shares of Snail from a “strong-buy” rating to a “hold” rating in a research report on Friday. Finally, Noble Financial restated an “outperform” rating on shares of Snail in a research report on Thursday, July 2nd. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold”.

About Snail

Snail Inc (NASDAQ: SNAL) is a digital entertainment company focused on the development, publishing and operation of free-to-play online games for PC and mobile platforms. The company’s portfolio spans a variety of genres that include massively multiplayer online role-playing games (MMORPGs), strategy titles, and casual mobile games. Snail manages its games throughout the entire lifecycle, providing design, development, server hosting and community support services to engage players worldwide.

Founded in the early 2000s and headquartered in Xiamen, China, Snail has expanded its footprint with regional offices in North America, Europe and Southeast Asia.