Wall Street Zen downgraded shares of GAN (NASDAQ:GAN - Free Report) from a hold rating to a sell rating in a research note released on Thursday.
GAN Trading Up 0.2%
GAN traded up $0.00 during midday trading on Thursday, reaching $1.96. The company's stock had a trading volume of 696,152 shares, compared to its average volume of 200,335. GAN has a 1 year low of $1.29 and a 1 year high of $1.97. The stock's 50-day moving average is $1.79 and its 200-day moving average is $1.81. The firm has a market capitalization of $91.25 million, a price-to-earnings ratio of -6.55 and a beta of 1.86.
GAN (NASDAQ:GAN - Get Free Report) last issued its quarterly earnings results on Friday, May 9th. The company reported ($0.15) EPS for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.09). The firm had revenue of $29.37 million during the quarter, compared to analysts' expectations of $37.48 million.
Hedge Funds Weigh In On GAN
Several institutional investors and hedge funds have recently modified their holdings of the stock. Cigogne Management SA purchased a new stake in GAN during the 4th quarter valued at about $2,358,000. Groupe la Francaise bought a new position in shares of GAN in the first quarter worth approximately $2,293,000. Renaissance Technologies LLC grew its holdings in shares of GAN by 51.8% during the fourth quarter. Renaissance Technologies LLC now owns 1,244,005 shares of the company's stock valued at $2,264,000 after buying an additional 424,678 shares during the last quarter. Dynamic Technology Lab Private Ltd grew its holdings 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 buying an additional 201,712 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its position in shares of GAN by 475.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 925,449 shares of the company's stock valued at $1,684,000 after acquiring an additional 764,752 shares in the last quarter. 16.67% of the stock is currently owned by institutional investors.
About GAN
(
Get Free Report)
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.
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