Bragg Gaming Group Inc. (NASDAQ:BRAG) Sees Significant Increase in Short Interest

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 large growth in short interest in 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 company are short sold. Based on an average daily trading volume, of 67,400 shares, the days-to-cover ratio is presently 2.9 days. Based on an average daily trading volume, of 67,400 shares, the days-to-cover ratio is presently 2.9 days. Currently, 1.1% of the shares of the company are short sold.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Militia Capital Partners LP purchased a new position in Bragg Gaming Group in the first quarter worth about $58,000. Millennium Management LLC purchased a new position in Bragg Gaming Group in the fourth quarter worth about $58,000. XTX Topco Ltd purchased a new position in Bragg Gaming Group in the first quarter worth about $77,000. Goldman Sachs Group Inc. grew its position in Bragg Gaming Group by 40.0% in the first quarter. Goldman Sachs Group Inc. now owns 72,263 shares of the company's stock worth $297,000 after acquiring an additional 20,633 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Bragg Gaming Group by 15.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 82,944 shares of the company's stock worth $307,000 after acquiring an additional 10,838 shares in the last quarter. Hedge funds and other institutional investors own 4.04% of the company's stock.

Wall Street Analyst Weigh In

BRAG has been the subject of several analyst reports. Benchmark lowered Bragg Gaming Group from a "buy" rating to a "hold" rating and set a $6.00 price objective for the company. in a research note on Monday, August 18th. JMP Securities reduced their price objective on Bragg Gaming Group from $6.00 to $4.00 and set a "market outperform" rating for the company in a research note on Friday, August 15th. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $7.00.

Bragg Gaming Group Stock Up 4.9%

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

Bragg Gaming Group (NASDAQ:BRAG - Get Free Report) last issued its quarterly earnings data on Thursday, August 14th. The company reported ($0.08) earnings per share for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.02). The firm had revenue of $30.72 million for 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. Analysts anticipate that Bragg Gaming Group will post -0.14 earnings per share for the current year.

Bragg Gaming Group Company Profile

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.