Lottery.com Inc. (NASDAQ:SEGG) Short Interest Down 43.1% in May

Lottery.com Inc. (NASDAQ:SEGG) was the recipient of a significant decline in short interest during the month of May. As of May 15th, there was short interest totaling 1,442,686 shares, a decline of 43.1% from the April 30th total of 2,536,219 shares. Currently, 11.0% of the shares of the stock are short sold. Based on an average daily volume of 3,102,097 shares, the days-to-cover ratio is currently 0.5 days.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Lottery.com in a research report on Wednesday, April 8th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $20.00.

Lottery.com Stock Performance

Shares of SEGG traded up $0.10 during trading hours on Thursday, hitting $1.91. The stock had a trading volume of 907,898 shares, compared to its average volume of 8,058,664. The firm has a market cap of $31.70 million, a P/E ratio of -0.50 and a beta of 2.36. Lottery.com has a 12-month low of $0.46 and a 12-month high of $16.40. The company’s fifty day simple moving average is $1.12 and its 200 day simple moving average is $1.16.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Lottery.com stock. DRW Securities LLC purchased a new position in shares of Lottery.com Inc. (NASDAQ:SEGG) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 58,609 shares of the company’s stock, valued at approximately $43,000. DRW Securities LLC owned approximately 0.64% of Lottery.com as of its most recent filing with the Securities and Exchange Commission. 7.72% of the stock is currently owned by institutional investors.

Lottery.com Company Profile

Lottery.com (NASDAQ: SEGG) operates a digital platform designed to streamline lottery participation by enabling users to purchase entries into state-regulated lotteries via mobile devices or the web. The company’s flagship mobile application and website serve as a gateway for consumers to participate in Powerball®, Mega Millions® and a range of other national and regional lottery drawings. Through partnerships with lottery providers, Lottery.com handles ticket procurement, secure storage and digital delivery of scanned tickets, offering a convenient alternative to traditional retail purchase.

Founded in 2016 and headquartered in Addison, Texas, Lottery.com has expanded its footprint beyond the United States, exploring opportunities in international markets such as Mexico and select European jurisdictions.