GAN Limited (NASDAQ:GAN) Sees Significant Increase in Short Interest

GAN Limited (NASDAQ:GAN) was the target of a significant increase in short interest during the month of March. As of March 31st, there was short interest totalling 70,500 shares, an increase of 24.1% from the March 15th total of 56,800 shares. Approximately 0.2% of the company’s shares are short sold. Based on an average trading volume of 234,800 shares, the short-interest ratio is currently 0.3 days.

Hedge Funds Weigh In On GAN

Institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC lifted its position in shares of GAN by 2.2% during the third quarter. Geode Capital Management LLC now owns 436,926 shares of the company’s stock worth $774,000 after purchasing an additional 9,260 shares in the last quarter. Oddo BHF Asset Management Sas acquired a new stake in GAN during the 3rd quarter worth approximately $3,676,000. Ridgewood Investments LLC acquired a new position in shares of GAN in the fourth quarter worth $95,000. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of GAN during the fourth quarter worth $36,000. Finally, AssuredPartners Investment Advisors LLC purchased a new stake in shares of GAN during the fourth quarter worth $62,000. 16.67% of the stock is owned by institutional investors and hedge funds.

GAN Price Performance

Shares of GAN stock traded down $0.02 during trading hours on Monday, hitting $1.72. The company had a trading volume of 45,788 shares, compared to its average volume of 180,112. GAN has a fifty-two week low of $1.17 and a fifty-two week high of $1.90. The company’s fifty day moving average is $1.75 and its 200 day moving average is $1.80. The stock has a market capitalization of $78.77 million, a PE ratio of -5.73 and a beta of 1.88.

GAN (NASDAQ:GAN) last issued its quarterly earnings data on Monday, March 17th. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.01). The firm had revenue of $31.69 million during the quarter, compared to analyst estimates of $41.11 million. During the same period in the previous year, the firm earned ($0.21) earnings per share.

GAN Company Profile

GAN Limited operates as a business-to-business (B2B) supplier of enterprise software-as-a-service solutions to online casino gaming and sports betting applications in the United States, Europe, Latin America, and internationally. It operates through two segments: B2B and B2C. The company provides and licenses GameSTACK, an internet gaming platform that provides turnkey technology solution for regulated real-money internet gambling, online sports betting, and virtual simulated gaming.