Short Interest in GAN Limited (NASDAQ:GAN) Grows By 245.7%

GAN Limited (NASDAQ:GAN - Get Free Report) was the target of a significant growth in short interest in the month of April. As of April 15th, there was short interest totalling 243,700 shares, a growth of 245.7% from the March 31st total of 70,500 shares. Approximately 0.6% of the company's stock are short sold. Based on an average daily trading volume, of 212,100 shares, the short-interest ratio is presently 1.1 days.

Institutional Trading of GAN

A number of hedge funds and other institutional investors have recently modified their holdings of GAN. Oddo BHF Asset Management Sas bought a new stake in GAN during the third quarter worth about $3,676,000. Cigogne Management SA purchased a new position in shares of GAN during the fourth quarter valued at approximately $2,358,000. Arrowstreet Capital Limited Partnership boosted its position in shares of GAN by 475.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 925,449 shares of the company's stock worth $1,684,000 after purchasing an additional 764,752 shares in the last quarter. Black Maple Capital Management LP purchased a new stake in shares of GAN in the 4th quarter worth approximately $1,034,000. Finally, Credit Industriel ET Commercial bought a new position in GAN during the 4th quarter valued at approximately $1,009,000. 16.67% of the stock is owned by hedge funds and other institutional investors.

GAN Trading Down 1.6 %

GAN stock traded down $0.03 during trading hours on Wednesday, hitting $1.79. 46,595 shares of the stock traded hands, compared to its average volume of 177,124. GAN has a one year low of $1.17 and a one year high of $1.90. The firm's 50-day moving average price is $1.76 and its two-hundred day moving average price is $1.80. The company has a market cap of $81.97 million, a PE ratio of -5.97 and a beta of 1.88.

GAN (NASDAQ:GAN - Get Free Report) last released its quarterly earnings results on Monday, March 17th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.01). The company had revenue of $31.69 million during the quarter, compared to the consensus estimate of $41.11 million. During the same quarter in the previous year, the company earned ($0.21) EPS.

GAN Company Profile

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.