Short Interest in Lottery.com Inc. (NASDAQ:SEGG) Drops By 88.4%

Lottery.com Inc. (NASDAQ:SEGG) was the recipient of a significant drop in short interest in August. As of August 14th, there was short interest totaling 131,625 shares, a drop of 88.4% from the July 30th total of 1,139,511 shares. Based on an average daily volume of 145,397 shares, the days-to-cover ratio is currently 0.9 days. Approximately 5.1% of the company’s shares are sold short.

Wall Street Analyst Weigh In

Several analysts have issued reports on SEGG shares. Wall Street Zen cut Lottery.com from a “sell” rating to a “strong sell” rating in a research report on Sunday, July 12th. Weiss Ratings lowered shares of Lottery.com from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, August 3rd. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Lottery.com currently has an average rating of “Hold” and a consensus target price of $140.00.

Lottery.com Price Performance

SEGG traded up $0.30 during trading on Tuesday, hitting $2.83. The company had a trading volume of 115,256 shares, compared to its average volume of 799,333. The company has a market cap of $9.23 million, a PE ratio of -0.10 and a beta of 2.50. The business has a 50-day moving average of $4.64 and a 200-day moving average of $6.81. Lottery.com has a 1-year low of $2.25 and a 1-year high of $52.94.

Institutional Investors Weigh In On Lottery.com

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

About Lottery.com

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.