Short Interest in Gambling.com Group Limited (NASDAQ:GAMB) Rises By 20.6%

Gambling.com Group Limited (NASDAQ:GAMB - Get Free Report) was the target of a large increase in short interest during the month of March. As of March 31st, there was short interest totalling 1,080,000 shares, an increase of 20.6% from the March 15th total of 895,800 shares. Based on an average trading volume of 437,700 shares, the days-to-cover ratio is presently 2.5 days. Currently, 6.4% of the company's shares are sold short.

Analyst Upgrades and Downgrades

GAMB has been the topic of several recent analyst reports. Truist Financial cut their target price on shares of Gambling.com Group from $18.00 to $17.00 and set a "buy" rating on the stock in a report on Wednesday. Jefferies Financial Group boosted their price objective on shares of Gambling.com Group from $20.00 to $21.00 and gave the company a "buy" rating in a research report on Wednesday, January 15th. Macquarie increased their target price on shares of Gambling.com Group from $18.00 to $19.00 and gave the stock an "outperform" rating in a report on Friday, March 21st. Benchmark restated a "buy" rating and set a $18.00 price target on shares of Gambling.com Group in a report on Thursday, February 20th. Finally, Cantor Fitzgerald initiated coverage on Gambling.com Group in a report on Wednesday, March 5th. They issued an "overweight" rating and a $20.00 price objective for the company. Nine research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $17.67.

Gambling.com Group Stock Performance

Shares of Gambling.com Group stock traded up $0.23 during trading hours on Friday, reaching $12.78. 213,567 shares of the stock traded hands, compared to its average volume of 270,875. The company has a 50 day moving average price of $12.82 and a 200 day moving average price of $12.95. Gambling.com Group has a one year low of $7.52 and a one year high of $17.14. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $444.27 million, a price-to-earnings ratio of 16.38 and a beta of 1.04.

Gambling.com Group (NASDAQ:GAMB - Get Free Report) last released its earnings results on Thursday, March 20th. The company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.10. The company had revenue of $35.30 million for the quarter, compared to the consensus estimate of $35.20 million. Gambling.com Group had a return on equity of 25.06% and a net margin of 23.40%. Gambling.com Group's revenue for the quarter was up 8.6% compared to the same quarter last year. On average, equities research analysts expect that Gambling.com Group will post 0.88 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Gambling.com Group

A number of hedge funds have recently modified their holdings of GAMB. State Street Corp lifted its position in Gambling.com Group by 4.2% during the third quarter. State Street Corp now owns 194,120 shares of the company's stock valued at $1,945,000 after purchasing an additional 7,806 shares during the last quarter. Barclays PLC raised its position in Gambling.com Group by 94.0% during the 3rd quarter. Barclays PLC now owns 38,494 shares of the company's stock valued at $385,000 after purchasing an additional 18,656 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Gambling.com Group in the fourth quarter worth about $163,000. Exchange Traded Concepts LLC boosted its stake in shares of Gambling.com Group by 2.7% during the fourth quarter. Exchange Traded Concepts LLC now owns 49,799 shares of the company's stock valued at $701,000 after purchasing an additional 1,325 shares in the last quarter. Finally, Gagnon Securities LLC bought a new stake in Gambling.com Group during the 4th quarter valued at $317,000. 72.26% of the stock is currently owned by institutional investors.

About Gambling.com Group

Gambling.com Group Limited operates as a performance marketing company for the online gambling industry worldwide. It provides digital marketing services for the iGaming and social casino products. The company's focus is on online casino, online sports betting, and fantasy sports industry. It publishes various branded websites, including Gambling.com, Casinos.com, RotoWire.com, and Bookies.com.