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

GAN Limited (NASDAQ:GAN) saw a large decline in short interest in the month of March. As of March 15th, there was short interest totalling 56,800 shares, a decline of 54.0% from the February 28th total of 123,600 shares. Approximately 0.1% of the company’s shares are short sold. Based on an average daily trading volume, of 232,400 shares, the days-to-cover ratio is presently 0.2 days.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GAN. Geode Capital Management LLC raised its position in shares of GAN by 2.2% during the third quarter. Geode Capital Management LLC now owns 436,926 shares of the company’s stock worth $774,000 after purchasing an additional 9,260 shares during the period. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in GAN during the 4th quarter worth approximately $36,000. Jane Street Group LLC bought a new position in GAN in the fourth quarter valued at approximately $55,000. AssuredPartners Investment Advisors LLC acquired a new stake in shares of GAN during the fourth quarter worth $62,000. Finally, Ridgewood Investments LLC bought a new position in GAN during the 4th quarter worth about $95,000. 16.67% of the stock is currently owned by institutional investors.

GAN Stock Performance

Shares of NASDAQ:GAN remained flat at $1.78 during mid-day trading on Friday. 123,202 shares of the company were exchanged, compared to its average volume of 176,055. The stock has a fifty day moving average of $1.80 and a 200 day moving average of $1.81. GAN has a 1-year low of $1.17 and a 1-year high of $1.90. The company has a market cap of $81.52 million, a price-to-earnings ratio of -5.93 and a beta of 1.96.

GAN (NASDAQ:GAN) last posted its 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 business had revenue of $31.69 million for the quarter, compared to the consensus estimate of $41.11 million. During the same quarter in the previous year, the business posted ($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.