GAN Limited (NASDAQ:GAN) Short Interest Down 54.0% in March

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

GAN Price Performance

Shares of GAN stock remained flat at $1.78 on Friday. The stock had a trading volume of 123,202 shares, compared to its average volume of 175,741. The firm has a market cap of $81.52 million, a P/E ratio of -5.93 and a beta of 1.96. GAN has a one year low of $1.17 and a one year high of $1.90. The firm’s 50 day moving average is $1.80 and its 200-day moving average is $1.81.

GAN (NASDAQ:GAN) last posted its earnings results on Monday, March 17th. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.01). The company had revenue of $31.69 million during the quarter, compared to analyst estimates of $41.11 million. During the same quarter in the previous year, the firm earned ($0.21) earnings per share.

Institutional Trading of GAN

Hedge funds have recently modified their holdings of the stock. Oddo BHF Asset Management Sas bought a new position in GAN in the 3rd quarter valued at about $3,676,000. Cigogne Management SA acquired a new position in shares of GAN in the fourth quarter valued at approximately $2,358,000. Renaissance Technologies LLC increased its stake 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 worth $2,264,000 after purchasing an additional 424,678 shares during the period. Dynamic Technology Lab Private Ltd grew its holdings in GAN by 26.8% in the 4th 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 in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its position in GAN by 475.9% during the 4th 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 period. Institutional investors and hedge funds own 16.67% of the company’s stock.

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.