GAN Limited (NASDAQ:GAN) Short Interest Up 24.1% in March

GAN Limited (NASDAQ:GAN - Get Free Report) saw a significant 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. Approximately 0.2% of the company's stock are short sold. Based on an average daily trading volume, of 234,800 shares, the days-to-cover ratio is presently 0.3 days.

GAN Stock Performance

GAN stock traded down $0.02 during mid-day trading on Friday, reaching $1.73. 21,610 shares of the company were exchanged, compared to its average volume of 177,506. The firm has a market cap of $79.00 million, a P/E ratio of -5.75 and a beta of 1.88. The business has a fifty day moving average of $1.75 and a 200 day moving average of $1.80. GAN has a 12-month low of $1.17 and a 12-month high of $1.90.

GAN (NASDAQ:GAN - Get Free Report) 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 company had revenue of $31.69 million during the quarter, compared to analysts' expectations of $41.11 million. During the same period in the prior year, the business earned ($0.21) EPS.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Geode Capital Management LLC boosted its holdings in GAN by 2.2% in the third quarter. Geode Capital Management LLC now owns 436,926 shares of the company's stock worth $774,000 after acquiring an additional 9,260 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of GAN during the fourth quarter valued at about $36,000. Jane Street Group LLC purchased a new position in shares of GAN in the 4th quarter valued at approximately $55,000. AssuredPartners Investment Advisors LLC acquired a new stake in GAN in the 4th quarter worth approximately $62,000. Finally, Ridgewood Investments LLC purchased a new stake in GAN during the 4th quarter worth approximately $95,000. Hedge funds and other institutional investors own 16.67% of the company's stock.

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.