GAN Limited (NASDAQ:GAN) Sees Significant Growth in Short Interest

GAN Limited (NASDAQ:GAN - Get Free Report) was the target of a significant growth in short interest in 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. Currently, 0.6% of the company's stock are short sold. Based on an average trading volume of 212,100 shares, the short-interest ratio is currently 1.1 days.

GAN Stock Up 0.3 %

Shares of GAN stock traded up $0.01 on Friday, reaching $1.80. The stock had a trading volume of 125,007 shares, compared to its average volume of 177,044. GAN has a 12 month low of $1.17 and a 12 month high of $1.90. The firm has a market capitalization of $82.20 million, a price-to-earnings ratio of -5.98 and a beta of 1.88. The firm's 50-day moving average is $1.76 and its two-hundred day moving average is $1.80.

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Oddo BHF Asset Management Sas bought a new position in GAN during the third quarter worth $3,676,000. Cigogne Management SA purchased a new position in GAN during the 4th quarter worth $2,358,000. Renaissance Technologies LLC grew its position in GAN by 51.8% in the 4th quarter. Renaissance Technologies LLC now owns 1,244,005 shares of the company's stock worth $2,264,000 after purchasing an additional 424,678 shares in the last quarter. Dynamic Technology Lab Private Ltd increased its position in shares of GAN by 26.8% during the fourth quarter. Dynamic Technology Lab Private Ltd now owns 954,455 shares of the company's stock valued at $1,737,000 after acquiring an additional 201,712 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings in GAN by 475.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 925,449 shares of the company's stock worth $1,684,000 after buying an additional 764,752 shares during the last quarter. 16.67% of the stock is currently owned by institutional investors and hedge funds.

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.