Galaxy Gaming Inc. (OTCMKTS:GLXZ) Shares Shorted: Short Interest Down 77.0% in October

Galaxy Gaming Inc. (OTCMKTS:GLXZ) was the target of a large decrease in short interest in the month of October. As of October 30th, there was short interest totaling 712 shares, a decrease of 77.0% from the October 15th total of 3,089 shares. Approximately 0.0% of the shares of the company are sold short. Based on an average trading volume of 100,447 shares, the short-interest ratio is presently 0.0 days.

Galaxy Gaming Price Performance

Shares of GLXZ stock opened at $1.57 on Friday. The company has a 50 day moving average price of $1.60 and a 200-day moving average price of $1.75. Galaxy Gaming has a 52 week low of $1.42 and a 52 week high of $2.99. The firm has a market capitalization of $39.50 million, a PE ratio of 4.49 and a beta of 0.42.

Galaxy Gaming (OTCMKTS:GLXZ) last posted its earnings results on Monday, November 9th. The company reported $0.20 EPS for the quarter. The business had revenue of $7.98 million during the quarter. Galaxy Gaming had a net margin of 28.32% and a negative return on equity of 59.73%.

Galaxy Gaming declared that its board has authorized a stock repurchase plan on Wednesday, July 22nd that permits the company to buy back $4 million in shares. This buyback authorization permits the company to repurchase up to 10.5% of its stock through open market purchases. Share buyback plans are usually a sign that the company’s management believes its shares are undervalued.

Galaxy Gaming Company Profile

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.