Kambi Group (OTCMKTS:KMBIF) Trading 17.5% Higher – Here’s What Happened

Shares of Kambi Group plc (OTCMKTS:KMBIF) shot up 17.5% during mid-day trading on Wednesday . The stock traded as high as C$18.80 and last traded at C$18.80. Approximately 300 shares changed hands during trading, a decline of 53% from the average daily volume of 645 shares. The stock had previously closed at C$16.00.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group restated a “hold” rating on shares of Kambi Group in a report on Wednesday, July 29th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Kambi Group has a consensus rating of “Hold”.

Kambi Group Price Performance

The company has a 50 day simple moving average of C$16.50 and a 200 day simple moving average of C$14.69.

Kambi Group Company Profile

Kambi Group plc is a global business‐to‐business provider of premium sports betting services to licensed gaming operators. The company develops and delivers a fully managed sportsbook platform that includes front‐office user interfaces, back‐office risk management, pricing tools, customer intelligence and data analytics. Through proprietary technology and in‐house trading expertise, Kambi aims to offer flexible, scalable solutions that enable its operator clients to launch and operate sports betting products across multiple channels.

Founded in 2010 as a spin‐off from Unibet Group, Kambi made its public debut on Nasdaq Stockholm and has since expanded its footprint through strategic partnerships and licensing agreements.