Bragg Gaming Group (NASDAQ:BRAG) Upgraded at Zacks Research

Zacks Research upgraded shares of Bragg Gaming Group (NASDAQ:BRAG) from a strong sell rating to a hold rating in a research report sent to investors on Wednesday morning,Zacks.com reports.

Bragg Gaming Group Stock Performance

Shares of NASDAQ BRAG opened at $2.02 on Wednesday. Bragg Gaming Group has a fifty-two week low of $1.46 and a fifty-two week high of $4.82. The company has a 50 day simple moving average of $1.80 and a two-hundred day simple moving average of $2.08. The company has a market capitalization of $50.58 million, a price-to-earnings ratio of -5.46 and a beta of 0.98.

Bragg Gaming Group (NASDAQ:BRAG) last announced its earnings results on Thursday, March 19th. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.03). The business had revenue of $32.66 million for the quarter, compared to the consensus estimate of $28.35 million. Bragg Gaming Group had a negative net margin of 7.59% and a negative return on equity of 12.52%. On average, analysts forecast that Bragg Gaming Group will post -0.08 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Bragg Gaming Group

An institutional investor recently raised its position in Bragg Gaming Group stock. Goldman Sachs Group Inc. lifted its position in shares of Bragg Gaming Group Inc. (NASDAQ:BRAG) by 40.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 72,263 shares of the company’s stock after acquiring an additional 20,633 shares during the period. Goldman Sachs Group Inc. owned approximately 0.29% of Bragg Gaming Group worth $297,000 as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 4.04% of the company’s stock.

Bragg Gaming Group Company Profile

Bragg Gaming Group is a business-to-business supplier of online gaming content, technology and platform solutions. The company develops and distributes a mix of proprietary, third-party and licensed casino games, including video slots, table games and live dealer experiences. Its core offering centers on a scalable gaming platform designed to support operator integration, player management and advanced analytics.

Bragg’s technology stack features its flagship ORYX Gaming platform, which provides a centralized hub for game aggregation, platform services and regulatory compliance tools.