Bragg Gaming Group Inc. (NASDAQ:BRAG) Short Interest Update

Key Points

• Bragg Gaming Group Inc. experienced a significant 29.3% increase in short interest during August, rising from 151,700 shares at the end of July to 196,100 shares as of August 15th.
• The stock currently holds a consensus rating of "Moderate Buy" from analysts, with an average target price of $7.00, though it has seen mixed ratings from brokerages recently.
• In its latest earnings report, Bragg Gaming posted an EPS of ($0.08), missing estimates, despite revenue exceeding expectations at $30.72 million.

Bragg Gaming Group Inc. (NASDAQ:BRAG - Get Free Report) was the recipient of a significant growth in short interest during the month of August. As of August 15th, there was short interest totaling 196,100 shares, a growth of 29.3% from the July 31st total of 151,700 shares. Currently, 1.1% of the shares of the stock are sold short. Based on an average trading volume of 67,400 shares, the short-interest ratio is currently 2.9 days. Based on an average trading volume of 67,400 shares, the short-interest ratio is currently 2.9 days. Currently, 1.1% of the shares of the stock are sold short.

Institutional Trading of Bragg Gaming Group

Large investors have recently added to or reduced their stakes in the stock. Millennium Management LLC purchased a new stake in Bragg Gaming Group in the 4th quarter valued at $58,000. Dimensional Fund Advisors LP grew its holdings in Bragg Gaming Group by 15.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 82,944 shares of the company's stock valued at $307,000 after buying an additional 10,838 shares in the last quarter. XTX Topco Ltd purchased a new stake in Bragg Gaming Group in the first quarter valued at $77,000. Militia Capital Partners LP acquired a new position in shares of Bragg Gaming Group in the 1st quarter valued at $58,000. Finally, Cidel Asset Management Inc. lifted its stake in shares of Bragg Gaming Group by 23.6% in the 1st quarter. Cidel Asset Management Inc. now owns 156,898 shares of the company's stock valued at $654,000 after purchasing an additional 29,913 shares during the last quarter. 4.04% of the stock is currently owned by hedge funds and other institutional investors.

Bragg Gaming Group Trading Up 4.9%

NASDAQ:BRAG traded up $0.13 during trading hours on Friday, hitting $2.80. The company had a trading volume of 150,638 shares, compared to its average volume of 82,094. The company has a 50-day moving average of $3.63 and a 200 day moving average of $4.00. The company has a market cap of $70.11 million, a P/E ratio of -11.67 and a beta of 0.83. Bragg Gaming Group has a 1 year low of $2.59 and a 1 year high of $6.12.

Bragg Gaming Group (NASDAQ:BRAG - Get Free Report) last issued its earnings results on Thursday, August 14th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.02). The company had revenue of $30.72 million during the quarter, compared to analysts' expectations of $27.86 million. Bragg Gaming Group had a negative net margin of 5.04% and a negative return on equity of 7.51%. Bragg Gaming Group has set its FY 2025 guidance at EPS. On average, analysts forecast that Bragg Gaming Group will post -0.14 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on BRAG. JMP Securities lowered their price target on Bragg Gaming Group from $6.00 to $4.00 and set a "market outperform" rating on the stock in a research note on Friday, August 15th. Benchmark lowered Bragg Gaming Group from a "buy" rating to a "hold" rating and set a $6.00 price target on the stock. in a research note on Monday, August 18th. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $7.00.

About Bragg Gaming Group

Bragg Gaming Group Inc provides business to business online gaming technology platform and casino content aggregator worldwide. The company offers a range of games, including slot, table, card, video bingo, scratch card, and virtual sports, as well as live dealer games. It also provides player account management platform, a multi-channel and cross-product that enables operators to manage the entire product suite using one shared account and one wallet for casino, lottery, sportsbook, and other operations; and Fuze, a single integrated platform that delivers third party gaming content.