Galaxy Gaming Inc. (OTCMKTS:GLXZ) Sees Significant Increase in Short Interest

Galaxy Gaming Inc. (OTCMKTS:GLXZ) was the target of a large growth in short interest in October. As of October 15th, there was short interest totaling 3,089 shares, a growth of 287.6% from the September 30th total of 797 shares. Based on an average trading volume of 176,804 shares, the short-interest ratio is presently 0.0 days. Approximately 0.0% of the shares of the company are short sold.

Galaxy Gaming Stock Performance

Shares of OTCMKTS:GLXZ traded down $0.02 during trading on Thursday, hitting $1.62. 3,200 shares of the stock were exchanged, compared to its average volume of 65,826. Galaxy Gaming has a 1-year low of $1.42 and a 1-year high of $2.99. The company’s fifty day simple moving average is $1.63 and its 200-day simple moving average is $1.82. The company has a market capitalization of $40.60 million, a price-to-earnings ratio of 8.53 and a beta of 0.42.

Galaxy Gaming announced that its Board of Directors has approved a share repurchase plan on Wednesday, July 22nd that authorizes the company to repurchase $4 million in shares. This repurchase authorization authorizes the company to buy up to 10.5% of its stock through open market purchases. Share repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.

About Galaxy Gaming

Galaxy Gaming, Inc is a gaming technology and casino entertainment company that develops, licenses and distributes proprietary casino table games, electronic gaming products and related systems. Its offerings are designed for land-based casinos, online gaming operators and other regulated gaming businesses.

The company’s portfolio has included proprietary table games, side bets, progressive jackpots and electronic versions of casino games. Galaxy Gaming also provides casino management and jackpot systems, game content and licensing services, allowing operators to offer its products under regulatory approvals in applicable jurisdictions.

Founded in 1997 and headquartered in Las Vegas, Nevada, Galaxy Gaming has historically served casino operators in the United States and international markets.