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

GAN Limited (NASDAQ:GAN - Get Free Report) saw a large increase in short interest in 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. Currently, 0.2% of the shares of the stock are sold short. Based on an average daily volume of 234,800 shares, the days-to-cover ratio is currently 0.3 days.

GAN Price Performance

Shares of GAN stock traded up $0.01 during trading on Friday, hitting $1.74. The stock had a trading volume of 79,894 shares, compared to its average volume of 180,651. GAN has a fifty-two week low of $1.17 and a fifty-two week high of $1.90. The business has a fifty day moving average of $1.75 and a two-hundred day moving average of $1.80. The firm has a market cap of $79.69 million, a P/E ratio of -5.80 and a beta of 1.88.

GAN (NASDAQ:GAN - Get Free Report) last announced its quarterly earnings data on Monday, March 17th. The company reported ($0.09) EPS 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 the consensus estimate of $41.11 million. During the same period in the previous year, the business earned ($0.21) EPS.

Institutional Trading of GAN

Several institutional investors have recently made changes to their positions in the stock. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of GAN during the 4th quarter worth about $36,000. Jane Street Group LLC acquired a new stake in GAN in the 4th quarter valued at approximately $55,000. AssuredPartners Investment Advisors LLC bought a new position in GAN during the fourth quarter worth $62,000. Ridgewood Investments LLC bought a new position in GAN during the fourth quarter worth $95,000. Finally, Rangeley Capital LLC acquired a new position in GAN during the 4th quarter valued at $182,000. 16.67% of the stock is currently owned by institutional investors and hedge funds.

About GAN

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.

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