GAN Limited (NASDAQ:GAN) Short Interest Up 67.3% in February

GAN Limited (NASDAQ:GAN) was the recipient of a significant increase in short interest during the month of February. As of February 28th, there was short interest totalling 123,600 shares, an increase of 67.3% from the February 13th total of 73,900 shares. Currently, 0.3% of the shares of the stock are sold short. Based on an average trading volume of 244,600 shares, the days-to-cover ratio is currently 0.5 days.

Institutional Investors Weigh In On GAN

Several hedge funds and other institutional investors have recently made changes to their positions in the company. CSS LLC IL purchased a new stake in shares of GAN in the fourth quarter valued at $439,000. Black Maple Capital Management LP purchased a new position in GAN in the 4th quarter worth about $1,034,000. Jane Street Group LLC purchased a new position in GAN in the 4th quarter worth about $55,000. Credit Industriel ET Commercial purchased a new position in GAN in the 4th quarter worth about $1,009,000. Finally, Cigogne Management SA purchased a new position in GAN in the 4th quarter worth about $2,358,000. Hedge funds and other institutional investors own 16.67% of the company’s stock.

GAN Stock Down 0.6 %

GAN stock traded down $0.01 during mid-day trading on Friday, reaching $1.77. 97,195 shares of the company’s stock traded hands, compared to its average volume of 180,004. The company has a market cap of $80.66 million, a price-to-earnings ratio of -5.90 and a beta of 1.96. The stock has a 50 day moving average of $1.81 and a two-hundred 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) last released its quarterly 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 company had revenue of $31.69 million for the quarter, compared to the consensus estimate of $41.11 million. During the same quarter last year, the firm posted ($0.21) earnings per share.

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.